Skip to main content

Fixed-Rate Mortgages Drop, Availability Rises

Apr 06, 2017
the Mortgage Bankers Association (MBA) announced that its Mortgage Credit Availability Index (MCAI) increased 3.2 percent to 183.4 in March

It was another week of declining fixed-rate mortgages (FRM), according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending April 6.
 
The 30-year FRM averaged 4.10 percent, down from last week when it averaged 4.14 percent, while the 15-year FRM this week averaged 3.36 percent, down from last week when it averaged 3.39 percent. However, the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) squeaked out a scant uptick, averaging 3.19 percent this week after recording a 3.18 percent average in the prior week.
 
“After three straight weeks of declines, the 30-year mortgage rate is now barely above the 2017 low,” said Sean Becketti, chief economist at Freddie Mac. “Next week's survey rate may be determined by Friday's employment report and whether or not it can sustain the strength from earlier this year.”
It was another week of declining fixed-rate mortgages (FRM), according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending April 6
 
Separately, the Mortgage Bankers Association (MBA) announced that its Mortgage Credit Availability Index (MCAI) increased 3.2 percent to 183.4 in March. Three of the four component indices increased—the Jumbo MCAI (up 11.7 percent), the Conventional MCAI (up 4.5 percent) and the Government MCAI (up 2.3 percent)—while the Conforming MCAI slipped by 2.6 percent.
 
“Credit availability increased in March driven by increased availability of Jumbo loan programs and Government loan programs,” said Lynn Fisher, MBA’s vice president of research and economics. “Led by a wave of adjustable rate Jumbo offerings, the Jumbo MCAI surged in March, more than offsetting its 4.4 percent decline in February, which was the first tightening of the that component index in 11 months. Increases observed in the Government MCAI were driven by increased availability of FHA’s Streamline Refinance and 203 K home rehabilitation loan programs.”
the Mortgage Bankers Association (MBA) announced that its Mortgage Credit Availability Index (MCAI) increased 3.2 percent to 183.4 in March
About the author
Published
Apr 06, 2017
FHA To Lay Off 40% Of Workforce

Mass terminations across the federal government expected to hit federal mortgage insurer

Feb 18, 2025
Mass Firings At CFPB Imminent, Filing Says

Unions representing CFPB employees said 95% of the Bureau's workforce could be cut by the weekend

Feb 14, 2025
Realty Fees On The Rebound

Real estate commissions are trending back up, post-NAR settlement.

Feb 13, 2025
Wire Fraud Losses Are Mounting

First-time homebuyers are especially at risk for wire fraud, report finds.

Feb 13, 2025
HUD Secretary Halts Equal Access Rule Enforcement

HUD to be transformed 'in His own image'

Feb 10, 2025
Rocket's All-American Return To The Super Bowl

The company spends millions to remind Americans of "the meaning of home."

Feb 10, 2025