Skip to main content

FHFA Shows Interest Rates Slide in November

NationalMortgageProfessional.com
Dec 30, 2014

Nationally, interest rates on conventional purchase-money mortgages decreased from October to November, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was four percent for loans closed in late November, down 11 basis points from 4.11 percent in October.

The average interest rate on all mortgage loans was 4.01 percent, down 10 basis points from 4.11 in October. The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.24 percent, a decrease of eight basis points from 4.32 in October.

The effective interest rate on all mortgage loans was 4.16 percent in November, down 11 basis points from 4.27 percent in November.  The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.

The average loan amount for all loans was $293,600 in November, up $8,600 from $285,000 in October.

Published
Dec 30, 2014
Equifax Confirms Credit Report Hike

Costs could go up as much as 400% in some cases, according to NCRA.

Industry News
Nov 29, 2022
‘Massive’ Increase In Credit Report Cost Coming In 2023

NCRA says a 'vast majority' of mortgage lenders will incur price increases ranging from 10% to 400%.

Industry News
Nov 28, 2022
Homepoint Offering $500 Credit To Borrowers For Appraisals

Savings intended to help ‘on-the-fence’ homebuyers feel more comfortable buying a home.

Industry News
Nov 28, 2022
Creativity Found In The Oddest Place

Flagstar’s MortgageTech Accelerator program has its roots in Major League Baseball

Industry News
Nov 21, 2022
UWM Expands Temporary Rate Buydown Offerings

In a rising rate environment, this temporary rate buydown will be an attractive option for borrowers.

Industry News
Nov 16, 2022
Down Payment Assistance Facilitator Arrive Home Launched

Social enterprise

Industry News
Nov 15, 2022