Skip to main content

Mortgage Rates Rise as International Economic Woes Continue

NationalMortgageProfessional.com
Jul 16, 2015
House in Hands Pic

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing fixed-rate mortgages (FRMs) reversing course and moving to their highest level this year amid ongoing volatility in bond markets. The 30-year fixed-rate mortgage (FRM) averaged 4.09 percent, with an average 0.6 point for the week ending July 16, 2015, up from last week when it averaged 4.04 percent. A year ago at this time, the 30-year FRM averaged 4.13 percent. Also this week, the 15-year FRM averaged 3.25 percent with an average 0.6 point, up from last week when it averaged 3.20 percent. A year ago at this time, the 15-year FRM averaged 3.23 percent. 

"The crisis in Greece continues to generate volatility in U.S. Treasury yields," said Sean Becketti, chief economist, Freddie Mac. "The tentative agreement hammered out last weekend gave investors the confidence to pull back a bit from Treasuries. Rates rose about 16 basis points on the 10-year Treasury from last week. As a result, the average rate on a 30-year fixed-rate mortgage rose 5 basis points this week to 4.09 percent, the highest level since October of last year."

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent this week with an average 0.5 point, up from last week when it averaged 2.93 percent. A year ago, the five-year ARM averaged 2.97 percent. The one-year Treasury-indexed ARM averaged 2.50 percent this week with an average 0.3 point, unchanged from last week. At this time last year, the one-year ARM averaged 2.39 percent. 

Published
Jul 16, 2015
ChainLogix Appoints New Vice President, Operations

Jeryl Graham hired to accelerate growth in title & mortgage services.

Industry News
Oct 15, 2021
JPMorgan Chase To Commit $8.4M To Improve Household Stability For The Underserved

JPMorgan Chase announced six organizations that will receive philanthropic capital as part of the firm’s $400 million five-year commitment to improve housing affordability and stability for Black, Hispanic and Latino, and other underserved households.

Community
Oct 15, 2021
SRE Mortgage Alliance 'Restructuring & Reorganizing'

7 p.m. UPDATE: Owner of technology-based wholesale residential mortgage lender in El Segundo to determine organization's future.

Wholesale
Oct 15, 2021
Ginnie Mae Issued Record MBS Volume In FY2021

The record $939 billion issued included nearly $73 billion in September.

Industry News
Oct 14, 2021
UWM Completes Test Of Cryptocurrency Mortgage Payments

United Wholesale Mortgage evaluated and accepted the first-ever cryptocurrency mortgage payment in September and an additional five payments in October from borrowers.

Industry News
Oct 14, 2021
Arvielo Re-Appointed To HUD Advisory Committee

Nationwide mortgage lender New American Funding’s Co-Founder and President Patty Arvielo has been re-appointed to serve on the U.S. Department of Housing & Urban Development's Housing Counseling Federal Advisory Committee.

Industry News
Oct 13, 2021