Mortgage Rates Rebound, Remain Below the Four Percent Mark – NMP Skip to main content

Mortgage Rates Rebound, Remain Below the Four Percent Mark

NationalMortgageProfessional.com
Oct 30, 2014

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that average fixed-rate mortgages (FRMs) moved higher across the board this week, rebounding from the lowest rates of the year of 3.92 percent. This week, the 30-year FRM averaged 3.98 percent, with an average 0.5 point, up from last week when it averaged 3.92 percent. A year ago at this time, the 30-year FRM averaged 4.10 percent. Also this week, the 15-year FRM averaged 3.13 percent with an average 0.5 point, up from last week when it averaged 3.08 percent. A year ago at this time, the 15-year FRM averaged 3.20 percent.

"Mortgage rates grew across the board this week, rebounding from the lowest rates of the year," said Frank Nothaft, vice president and chief economist, Freddie Mac. "New home sales grew at an annual rate of 467,000 sales in September, the fastest rate observed during the recovery. Meanwhile, the National S&P Case-Shiller House Price Index grew at a seasonally adjusted annual rate of 0.4 percent in August."

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.94 percent this week with an average 0.5 point, up from last week when it averaged 2.91 percent. A year ago, the five-year ARM averaged 2.96 percent. The one-year Treasury-indexed ARM averaged 2.43 percent this week with an average 0.4 point, up from last week when it averaged 2.41 percent. At this time last year, the one-year ARM averaged 2.51 percent.

Published
Oct 30, 2014
Class Action Lawsuit Filed Against Equifax Over Glitch

Complaint stems from errors in credit scores made earlier this year.

Industry News
Aug 08, 2022
Birchwood Credit Services Promotes New Chief Operating Officer

Barrett Elliot has been with national provider of mortgage credit reporting services since 2010.

Industry News
Aug 08, 2022
Redfin 2Q Revenues Up, Profits Down

Company officials said that in the third quarter they expect total revenue between $590 million and $627 million.

Industry News
Aug 05, 2022
Mutual of Omaha Mortgage Announces Wholesale Division

Loans available through its own platform and in partnership with ReadyPrice, LenderPrice, and Loansifter.

Industry News
Aug 05, 2022
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
Deal With Opendoor Allows Zillow Back Into iBuying Business

As it releases rough 2Q earnings report, Zillow announces partnership with former rival.

Tech
Aug 04, 2022