Skip to main content

HSH.com: Mortgage Rates Dip Yet Again

NationalMortgageProfessional.com
Jan 21, 2015

Rates on the most popular types of mortgages pressed lower again, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate rate mortgages (FRMs) fell by another six basis points (0.06 percent) to 3.71 percent. Conforming 5/1 Hybrid ARM rates decreased by nine basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.95 percent.

"Even though the U.S. economy is pretty strong, it's not immune to troubles around the globe," said Keith Gumbinger, vice president of HSH.com. "For example, slower growth among our trading partners will tend to temper export growth, while lower oil and commodities prices may produce deflation in some economies and also drag inflation down. The net result is lower interest and mortgage rates here, much to the benefit of homeowners looking to refinance."

Other central banks such as the European Central Bank are turning to Quantitative Easing (QE)-style stimulus measures, and government-issued bonds in various countries have fallen to or near record-low levels. This has served to intensify the wash of cash to U.S. shores, more than offsetting any firmer rates our domestic economy might manage.

"Even with new programs to prop up growth and combat deflation expected to hit the Eurozone shortly, it will take some time to see if they work, and investors will be rightfully skeptical, at least at first," said Gumbinger. "The Fed tinkered with a variety of unique monetary policies before hitting a good combination, and until it's clear that these other central bank programs work, chances for homeowners to lock in rock-bottom mortgage rates will continue."

Average mortgage rates and points for conforming residential mortgages for the week ending January 20, according to HSH.com:

Conforming 30-year fixed-rate mortgage
Average rate: 3.71 percent
Average points: 0.13

Conforming 5/1-year adjustable-rate mortgage
Average rate: 2.95 percent
Average points: 0.09

Average mortgage rates and points for conforming residential mortgages for the previous week ending Jan. 13 were, according to HSH.com:
Conforming 30-year fixed-rate mortgage
Average rate: 3.77 percent
Average points: 0.18

Conforming 5/1-year adjustable-rate mortgage
Average rate: 3.04 percent
Average points: 0.09

Published
Jan 21, 2015
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021