Fixed Mortgage Rates Swing Upward – NMP Skip to main content

Fixed Mortgage Rates Swing Upward

Phil Hall
Nov 10, 2016
Average fixed mortgage rates are on the rise, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS)

Average fixed mortgage rates are on the rise, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS).

The 30-year fixed-rate mortgage (FRM) averaged 3.57 percent for the week ending Nov. 10, up from last week when it averaged 3.54 percent. The 15-year FRM this week averaged 2.88 percent, up from last week when it averaged 2.84 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.88 percent this week, up from last week when it averaged 2.87 percent.

However, Freddie Mac Chief Economist Sean Becketti warned that this uptick should not be credited to Tuesday’s election results.

“This week's survey reflects pre-election market conditions,” Becketti said. “As a result, the 30-year mortgage rate increased to 3.57 percent, only three basis points higher than last week's level. On Wednesday, the 10-year Treasury yield closed above two percent, about 25 basis points higher than its pre-election value and its highest yield since January. At this point, it is too soon to tell whether Treasuries will hold this new level or if the mortgage rate will increase as much over the coming week.”

Nov 10, 2016
loanDepot And mellohome's 'Grand Slam' Experience Builds Momentum

After recently launching Grand Slam, a new buying experience, loadDepot and its sister company, mellohome, has seen more than 1,400 accepted customer offers.

Industry News
Dec 08, 2021
SoCal VA Homes Stresses Importance Of New VA Loan Limits

SoCal VA Homes, a company that works exclusively with active military and Veteran homebuyers, expressed how important the Federal Housing Finance Agency's new conforming loan limit is to the demographic.

Military Lending
Dec 08, 2021
OpenClose Launches Mobile Assist

OpenClose, a fintech provider of mortgage software solutions for banks, credit unions, and mortgage lenders launched its native mobile app platform, Mobile Assist.

Dec 07, 2021
Deephaven Heightens Foreign National DSCR Program

Deephaven is amping up its Foreign National DSCR Program as a response to the increase in the real estate investment market.

Dec 07, 2021
Revolution Mortgage Opens Second Mortgage Branch In Cincinnati

Columbus, OH-based Revolution Mortgage announced the opening of its second branch in Cincinnati and 14th branch in Ohio.

Industry News
Dec 06, 2021
Nations Lending Teams Up With NBA Legend Dennis Rodman On Integrated Brand Campaign

Nations Lending, a full-service national mortgage lender, announced the launch of its first integrated brand campaign starring NBA Champion and All-Star Dennis Rodman.

Sales and Marketing
Dec 06, 2021