New foreclosure prevention system revealed at Congressional Black Caucus – NMP Skip to main content

New foreclosure prevention system revealed at Congressional Black Caucus

National Mortgage Professional
Sep 22, 2008

Freddie Mac PMMS: One-year ARM ticks up as all other rates fallMortgagePress.comFreddie Mac, Primary Mortgage Market Survey, ARMs, statistics Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.94 percent with an average 0.6 point for the week ending Oct. 9, 2008, down from last week when it averaged 6.10 percent. Last year at this time, the 30-year FRM averaged 6.40 percent. The 15-year FRM this week averaged 5.63 percent with an average 0.6 point, down from last week when it averaged 5.78 percent. A year ago at this time, the 15-year FRM averaged 6.06 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.90 percent this week, with an average 0.6 point, down from last week when it averaged six percent. A year ago, the 5-year ARM averaged 6.12 percent. One-year Treasury-indexed ARMs averaged 5.15 percent this week with an average 0.6 point, up from last week when it averaged 5.12 percent. At this time last year, the one-year ARM averaged 5.73 percent. Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. "Longer-term mortgage rates fell for the first time in three weeks, roughly following bond market yields," said Frank Nothaft, Freddie Mac vice president and chief economist. "Meanwhile, the latest housing market data showed some pickup in home purchase activity in August. Pending existing home sales in August rose 8.4 percent, reflecting the largest monthly increase since October 2001, and July's figures had an upward revision, according to the National Association of Realtors. "More recently mortgage applications for both home purchases and refinancing grew slightly over the week ending Oct. 3, reversing a two-week decline, based on figures from the Mortgage Bankers Association." For more information, visit www.freddiemac.com.
Published
Sep 22, 2008
KBRA Assigns Preliminary Ratings To CSMC 2022-NQM1 Trust

Kroll Bond Rating Agency assigned preliminary ratings to CSMC 2022-NQM1, a $553.7 million non-prime RMBS transaction sponsored by DLJ Mortgage Capital, Inc.

Non-QM
Jan 25, 2022
Hunt Mortgage Appoints Chief Operating Officer

Bindiya Jain previously has served as a vice president at South Shore Bank and at UniBank for Saving. 

Industry News
Jan 25, 2022
Guild Mortgage Names VP Of Marketplace Diversity Strategy

Guild Mortgage named Victoria Garcia DeLuca as the company's vice president of marketplace diversity strategy, which is aimed at increasing homeownership among minorities and underserved markets.

Industry News
Jan 25, 2022
Deephaven Introduces Jumbo-Prime Loans

Non-agency/non-QM Deephaven Mortgage announced a new jumbo-prime loan product, as it looks to help mortgage banks and brokers compete for high-net-worth borrowers.

Jumbo
Jan 25, 2022
Rocket Mortgage Brokers Now Backed By A Crew Of Experts

Every broker partner with the company will have direct access to a small, dedicated team of mortgage experts to answer their loan questions.

Industry News
Jan 24, 2022
Atlanta Real Estate Agent Sentenced For Running Multi-Year Mortgage Fraud Scheme

So far, up to 11 people have plead guilty in Federal Court to the multi-year mortgage fraud scheme, which netted more than $21 million in fraudulent mortgage loans.

Industry News
Jan 24, 2022