Skip to main content

Mortgage Rates Take a Dip

Phil Hall
Jun 09, 2016
Mortgage rates were on the decline this week, according to the latest Primary Mortgage Market Survey (PMMS) released by Freddie Mac

Mortgage rates were on the decline this week, according to the latest Primary Mortgage Market Survey (PMMS) released by Freddie Mac.

The 30-year fixed-rate mortgage (FRM) averaged 3.60 percent for the week ending June 9, down from last week when it averaged 3.66 percent. The 15-year FRM this week averaged 2.87 percent, down from last week when it averaged 2.92 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, down from last week when it averaged 2.88 percent.

Sean Becketti, chief economist at Freddie Mac, blamed the rates’ drop on last week’s dismal jobs numbers.

“Growing optimism about the state of the economy was quickly erased with May's employment report,” Becketti said. “The disappointing release caused an immediate flight to quality resulting in the 10-year Treasury yield dropping 10 basis points on Friday … This week marks the 10th consecutive week the 30-year rate has averaged under 3.7 percent, allowing an extended window for homebuyers to take advantage of these historically-low borrowing costs.”

Published
Jun 09, 2016
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
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