Skip to main content

HSH.com: Rates Slip Slightly Over Last Week

NationalMortgageProfessional.com
Aug 13, 2014

Rates on the most popular types of mortgages ebbed slightly lower this week according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by three basis points (0.03 percent) to 4.21 percent. Conforming 5/1 Hybrid ARM rates decreased] by three basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.15 percent. "Mortgage rates continue to bob about like a raft on the ocean," said Keith Gumbinger, vice president of HSH.com. "One week we'll see a small upward swell, only to find rates ebb lower the following week. At some point, we're likely to break out of this pattern, probably upward, but for now the 'summer of stability' for mortgage rates continues." Mortgage rates have held to a tight range since mid to late May, wobbling gently over that time. Opposing economic and political forces have served to produce the near-stasis at very favorable levels, and this beneficial happenstance may result in the easing of lending standards for at least some borrowers. "The latest Federal Reserve survey of Senior Loan Officers should provide a little encouragement for mortgage shoppers, as the report noted some banks have begun easing tight underwriting guidelines," said Gumbinger. "While these changes are only at the fringes for now, that the so-called 'credit box' is beginning to expand can mean more and better opportunities for mortgage borrowers to get a crack at these low mortgage rates before they eventually disappear." Average mortgage rates and points for conforming residential mortgages for the week ending August 12, according to HSH.com: Conforming 30-year fixed-rate mortgage ►Average rate: 4.21 percent ►Average points: 0.18 Conforming 5/1-year adjustable-rate mortgage ►Average rate: 3.15 percent ►Average points: 0.10 Average mortgage rates and points for conforming residential mortgages for the previous week ending August 05 were, according to HSH.com: Conforming 30-year fixed-rate mortgage ►Average Rate: 4.24 percent ►Average Points: 0.14 Conforming 5/1-year adjustable-rate mortgage ►Average Rate: 3.18 percent ►Average Points: 0.07
Published
Aug 13, 2014
Atlanta Real Estate Agent Sentenced For Running Multi-Year Mortgage Fraud Schemes

So far, up to 11 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
Crypto-Craze In The Mortgage Industry

'It’s time to tell the Emperor he has no clothes.'

Industry News
Jan 24, 2022
What Millennials Want from the Homebuying Process

Research backs the need for education and technology in creating the kind of efficient, customer-focused homebuying experience younger consumers expect.

Analysis and Data
Jan 24, 2022
Ross Mortgage Makes Three Leadership Promotions

Ross Mortgage Corporation's president, Tim Pascarella, announced three leadership promotions within the company.

Community
Jan 24, 2022
Rising Mortgage Rates Could Propel Buyers To Purchase Homes Sooner

First American Financial Corporation published its Nov. 2021 First American Real Estate House Price Index, which found that rising mortgage rates may have a strong effect on prospective buyers.

Analysis and Data
Jan 24, 2022
PenFed CU Sees Record Annual Mortgage Lending Volume

PenFed Credit Union announced it's financial highlights from 2021 which includes record annual mortgage lending volume.

Industry News
Jan 21, 2022