Mortgage Rates Dip for Fourth Consecutive Week – NMP Skip to main content

Mortgage Rates Dip for Fourth Consecutive Week

NationalMortgageProfessional.com
May 23, 2014

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates moving lower for the fourth consecutive week with fixed mortgage rates hitting new lows for 2014, as the 30-year fixed-rate mortgage (FRM) averaged 4.14 percent with an average 0.6 point for the week ending May 22, 2014, down from last week when it averaged 4.20 percent. A year ago at this time, the 30-year FRM averaged 3.59 percent. Also this week, the 15-year FRM averaged 3.25 percent with an average 0.5 point, down from last week when it averaged 3.29 percent. A year ago at this time, the 15-year FRM averaged 2.77 percent.  "Mortgage rates continued to decline this week as industrial production slipped by 0.6 percent in April, below the market consensus forecast," said Frank Nothaft, vice president and chief economist for Freddie Mac. "Meanwhile, housing starts jumped 13 percent in April to a seasonally adjusted annual rate of 1,072,000 units, well above expectations. Permits rose to a seasonally adjusted annual rate of 1,080,000 in April, also above expectations." Also this week, the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent with an average 0.4 point, down from last week when it averaged 3.01 percent. A year ago, the five-year ARM averaged 2.63 percent. The one-year Treasury-indexed ARM averaged 2.43 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the one-year ARM averaged 2.55 percent. 
Published
May 23, 2014
Angel Oak Home Loans Opens 3 New Branches

Continues expansion in Western U.S. with new branches in California, Nevada & Utah.

Industry News
Dec 02, 2021
Open Mortgage Names New President

Joe Stephenson, formerly of American Advisors Group, to lead daily operations.

Industry News
Dec 01, 2021
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech
Nov 29, 2021