Skip to main content

HSH.com: Thirty-Year Fixed-Rates Rise Slightly to 4.43 Percent for the Week

NationalMortgageProfessional.com
Feb 26, 2014

Rates on the most popular types of mortgages were mixed, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by one basis points (0.01 percent) to 4.43 percent. Conforming 5/1 Hybrid ARM rates decreased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.12 percent. "Incoming data about the economy has been disappointing for a number of weeks, but the reasons aren't quite clear," said Keith Gumbinger, vice president of HSH.com. "Harsh winter weather is likely affecting some facets of the data to some degree, but how much is hard to determine. Without a clear path to follow, mortgage rates are mostly wandering sideways, awaiting confirmation of any trend, either up or down." In recent weeks, softer-than-forecast reports covering retail sales, employment growth, housing, manufacturing activity and other important indicators have all failed to meet expectations or otherwise pointed to a slackening of growth. The most recent estimate for Gross Domestic Product (GDP) in the fourth quarter of 2013 shows a U.S. growth rate of 3.2 percent. A new update for GDP comes Friday; this figure is expected to be marked down, and the first two months of 2014 seem to be featuring slower growth as well. The present situation where investors attempt to peer through the haze to get a clearer picture of the true pace of growth is familiar," said Gumbinger. "In some ways, this is very similar to what we endured in November and December, when the government shutdown produced distorted data for a time. It took a couple of months to see that we actually fared pretty well. Perhaps that will also be the case this time, and the Fed's relatively rosy outlook will come to pass." Average mortgage rates and points for conforming residential mortgages for the week ending February 25, according to HSH.com: Conforming 30-year fixed-rate mortgage ►Average rate: 4.43 percent ►Average points: 0.18 Conforming 5/1-year adjustable-rate mortgage ►Average rate: 3.12 percent ►Average points: 0.09 Average mortgage rates and points for conforming residential mortgages for the previous week ending Feb. 18 were, according to HSH.com: Conforming 30-year fixed-rate mortgage ►Average rate: 4.42 percent ►Average points: 0.16 Conforming 5/1-year adjustable-rate mortgage ►Average rate: 3.14 percent ►Average points: 0.10
Published
Feb 26, 2014
Federal Regulators Race To Address Cryptocurrency Risks

Cryptocurrency is quickly morphing into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks to consumers and the market. 

Industry News
Sep 24, 2021
MBA Initiative Seeks To Close Racial Homeownership Gap

Says its advocacy, partnerships & connections will help increase opportunities for minority borrowers

Industry News
Sep 24, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021