Skip to main content

HSH.com: International Unrest Force Rates Slowly Upward

NationalMortgageProfessional.com
Aug 28, 2013

Rates on the most popular types of mortgages climbed slightly upward according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by five basis points (0.05 percent) to 4.66 percent. Conforming 5/1 Hybrid ARM rates increased by six basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.47 percent. "After a strong bounce last week, mortgage rates are stabilizing at the moment," said Keith Gumbinger, vice president of HSH.com. "Last Friday's report, which showed a 13.4 percent decline in new home sales for July, is our first indication that higher mortgage rates are having an effect on the housing market. If housing is slowing, the Federal Reserve's expected process of 'tapering' QE may become a more protracted process, or begin later than mid-September." Stock markets have been unsteady of late, given the unfolding situation in Syria and across the Middle East, which has added uncertainty about any political or military moves which may be implemented. "Troubles in the world can be a mortgage borrower's best friend," said Gumbinger. "Worried investors often park cash in U.S. Treasuries as a safe haven, driving yields down and dragging mortgage rates along with them. So far, this action by investors has been enough to slow last week's rise; should it persist, mortgage rates may actually be lower later this week." Average mortgage rates and points for conforming residential mortgages for the week ending Aug. 27, according to HSH.com: Conforming 30-year fixed-rate mortgage ►Average rate: 4.66 percent ►Average points: 0.20 Conforming 5/1-year adjustable-rate mortgage ►Average rate: 3.47 percent ►Average points: 0.16 Average mortgage rates and points for conforming residential mortgages for the previous week ending Aug. 20 were, according to HSH.com: Conforming 30-year fixed-rate mortgage ►Average Rate: 4.61 percent ►Average Points: 0.21 Conforming 5/1-year adjustable-rate mortgage ►Average Rate: 3.41 percent ►Average Points: 0.17
Published
Aug 28, 2013
Clear Capital Announces 350 New Hires And 170 Job Openings

Clear Capital, a national real estate valuation technology company, announced it has hired more than 350 people so far in 2021, with 170 jobs currently open and accepting applications.

Community
Oct 28, 2021
Fitch To Rate BRAVO 2021-NQM3, Presale Issued

Fitch Ratings assigned its expected ratings to Bravo Residential Funding Trust's 2021-NQM3 supported by 934 loans with a total interest-bearing balance of approximately $346 million as of the cutoff date, according to Fitch.

Non-QM
Oct 28, 2021
Guild Mortgage Announces Medical Professional Mortgage Program

Guild Mortgage introduced a new mortgage product to help medical professionals buy their first home with no down payment.

Industry News
Oct 27, 2021
Mortgage Coach And HomeBinder Partner On New Integration For Homeowners

Mortgage Coach announced a new integration with HomeBinder aimed to help homeowners stay connected with their lenders.

Tech
Oct 27, 2021
Non-QM Lender Angel Oak Appoints David Raju As Group CIO

Firm continues to seek ways to optimize data and improve technology capabilities.

Non-QM
Oct 27, 2021
Evergrande Steadily Repays Debt While Taking On New Risk

Evergrande Chairman Hui Ka Yan has ambitious plans, signaling last Friday that the firm wants to move away from housing and focus on making electric cars. 

Industry News
Oct 26, 2021