Mixed Housing Data Causes Slight Rise in Rates – NMP Skip to main content

Mixed Housing Data Causes Slight Rise in Rates

NationalMortgageProfessional.com
Sep 25, 2014

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) easing slightly from the previous week amid mixed housing data. The 30-year FRM averaged 4.20 percent, with an average 0.5 point for the week ending Sept. 25, 2014, down from last week when it averaged 4.23 percent. A year ago at this time, the 30-year FRM averaged 4.32 percent. The 15-year FRM also averaged 3.36 percent with an average 0.5 point, down from last week when it averaged 3.37 percent. A year ago at this time, the 15-year FRM averaged 3.37 percent. "Mortgage rates were slightly changed with the rate on the 30-year fixed mortgage down three basis points,” said Frank Nothaft, vice president and chief economist for Freddie Mac. “Meanwhile, existing home sales dropped 1.8 percent in August to a seasonally-adjusted annual rate of 5.05 million. Sales of new single-family homes surged 18 percent in August to an annual pace of 504,000 units. Also, the Federal Housing Finance Agency reported house prices rose just 0.1 percent on a seasonally-adjusted basis in July, and were up 4.4 percent over the past year." The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08 percent this week with an average 0.4 point, up from last week when it averaged 3.06 percent. A year ago, the five-year ARM averaged 3.07 percent. Also last week, 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 2.63 percent.
Published
Sep 25, 2014
Ginnie Mae Exits The Stone Age And Embraces Blockchain

'Some of the procurement stuff that we do, maybe it’s archaic, maybe it needs to be innovated.'

Industry News
Jan 26, 2022
Katten Partner To Head Women In Securitization

Katten announced that Claudine Chen-Young, a partner in its Structured Finance and Securitization practice in Washington, is the newly named chair of Women in Securitization.

Industry News
Jan 26, 2022
AFR Adds Director Of Marketing

American Financial Resources, Inc. named Lauren Blackburn as its director of marketing, where she will be tasked with driving the company's marketing strategy.

Community
Jan 26, 2022
Standard Communities Creates Affordable Housing For The 'Missing Middle'

Standard Communities is taking over housing stock in the least affordable areas in America.

Industry News
Jan 26, 2022
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