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Frank Nothaft

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?

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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?

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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

Housing Market Showing Signs of Stability Amid Still Uneasy Economy

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A pair of new reports issued today—Freddie Mac’s Primary Mortgage Market Survey (PMMS) and Zillow’s first quarter overview on all-cash purchases—offered a view that might suggest housing is showing evidence of stabilizing, even if the economy is still wobbling about. According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 4.17 percent with an average 0.6 point for the week ending June 19, down from last week when it averaged 4.20 percent. A year ago at this time, the 30-year FRM averaged 3.93 percent.Click to continue

Mortgage Rates Tick Upwards as Optimism Remains Flat

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Average fixed mortgage rates inched higher for a second consecutive week, according to results in Freddie Mac’s Primary Mortgage Market Survey (PMMS). However, the rising rate level failed to help raise a sense of confidence among many real estate finance professionals.Click to continue

Freddie Mac: The FRM World Goes Flat

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It was a pretty flat week in average fixed mortgage rates, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending June 5. But several mortgage industry leaders believe that the flat rates have little, if any, driving impact on the health of the housing market.Click to continue

Fixed-Rates Near Four Pecent Mark, Hit Lowest Point in Seven Months

House Dip

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) falling for the fifth consecutive week and hitting new 2014 lows. The 30-year FRM averaged 4.12 percent with an average 0.6 point for the week ending May 29, 2014, down from last week when it averaged 4.14 percent. A year ago at this time, the 30-year FRM averaged 3.81 percent. The average for the 30-year rate is at its lowest point since the week of Oct. 31, 2013.Click to continue