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Frank Nothaft

Fixed-Rates Hit Lowest Mark Since June 2013


Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates hitting new lows for the year as 10-year bond yields briefly dipped below two percent. At 3.97 percent the average 30-year fixed rate is at its lowest level since the week of June 20, 2013 when it averaged 3.93 percent. This was also the last time the 30-year fixed averaged below four percent in the PMMS until this week.Click to continue

Fixed-Rate Mortgages Dip Back Down to 2014 Lows

Home in Hands Pic

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates falling back near their lows for 2014, as the 30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.5 point for the week ending Oct. 9, 2014, down from last week when it averaged 4.19 percent. A year ago at this time, the 30-year FRM averaged 4.23 percent.Click to continue

Nationwide Fixed-Rates Drop Slightly to 4.19 Percent

Home Money/Credit: Comstock

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) flat to slightly down amid positive data on GDP, but mixed housing reports. The 30-year FRM averaged 4.19 percent, with an average 0.4 point for the week ending Oct. 2, 2014, down from last week when it averaged 4.20 percent. A year ago at this time, the 30-year FRM averaged 4.22 percent.Click to continue

Cash-Out Refis Tick Higher as Boom Ends

House Atop Money/Credit: Creatas

Freddie Mac has released the results of its second quarter 2014 quarterly refinance analysis, showing that borrowers will save in aggregate more than $1 billion in interest payments over the coming year, as borrowers continued to shorten their payment terms and build equity in their homes.Click to continue

Number Crunched: Is Industry Data Adding Up?


The acclaimed writer and futurist Alvin Toffler once remarked, “You can use all the quantitative data you can get, but you still have to distrust it and use your own intelligence and judgment.”

Of course, Toffler was not talking about surplus amount of data relating to the housing industry and the mortgage market. However, the excess quantity of data servings sometimes creates a contradictory picture, creating both confusion and bemusement across the industry.Click to continue

Rising Job Numbers Plus Unchanged Mortgage Rates Equals … What?

Rates Climb

New data on job creation and average fixed mortgage rates were simultaneously released today by the U.S. Bureau of Labor Statistics (BLS) and Freddie Mac. While this data was not intentionally timed to be released on the same day, the announcements offered a new affirmation on the overlap between the job market and the housing market.Click to continue

Can Millennials and Jumbos Drive the Mortgage Market?


Three new reports issued today offer a mix of different emotions on the state of housing and the mortgage market, with an affirmation of current problems and a forecast for a much brighter tomorrow. However, some industry experts point to a XL-sized non-agency product as being the latest tool to help drive activity.Click to continue

Despite a Decline in Delinquencies, Most Markets Remain Weak

House Bottoms Out Pic

Freddie Mac has released its Multi-Indicator Market Index (MiMi) showing mixed signals for the U.S. housing market. Most markets remain weak, despite declining mortgage delinquencies, improving local employment, house price gains and attractive mortgage rates due to weak home purchase mortgage applications.Click to continue