Mortgage Rates Flat, Credit Availability Slightly Down

May 04, 2017

It is beginning to look like a dismal spring for the mortgage market, as home loan applications dropped for the fifth consecutive week, according to data from the Mortgage Bankers Association covering the week ending May 4

Freddie Mac’s latest Primary Mortgage Market Survey (PMMS) saw minimal movement for the week ending May 4.

The 30-year fixed-rate mortgage (FRM) averaged 4.02 percent, down from last week when it averaged 4.03 percent, and the 15-year FRM this week averaged 3.27 percent, the same as last week. A year ago at this time, the 15-year FRM averaged 2.86 percent. But the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.13 percent this week, up from last week’s 3.12 percent average.

Separately, the Mortgage Bankers Association (MBA) reported that its Mortgage Credit Availability Index (MCAI) dipped by 0.2 percent to 183 in April. Three of the four component indices were down—the Conforming MCAI dropped 0.9 percent, followed by the Conventional MCAI with a 0.6 percent fall and the Jumbo MCAI sliding 0.4 percent—while the Government MCAI was unchanged from last month.

“After some program changes early in the year and some merger activity among investors, credit availability held fairly steady in April with little discernable change in the composition of the supply of credit for government and jumbo programs,” said Lynn Fisher, MBA’s vice president of research and economics. “Conforming credit availability has slipped a bit since the beginning of the year, with fewer program offerings along a range of credit characteristics and no particular culprit.”

About the author

Phil Hall

Link copied

Published

May 04, 2017

Analysis and Data

Figure Says Partners More Than Doubled HELOC Volume On Its Platform

Consumer loan marketplace volume reached $4.3 billion as Figure Connect drove more production off the company’s balance sheet and helped lift adjusted margins to a record 55%

Figure Technology Solutions said mortgage partners using its platform generated substantially more home equity lending volume than their previous production would have predicted, adding an originator-level measure to a quarter marked by rapid marketplace growth and record pr...

People On The Move

eLEND Names Avi Marcus Chief Legal Officer

Marcus will oversee legal strategy and corporate governance as the lender expands its use of AI, automation, and digital mortgage technology

American Financial Resources LLC, which does business as eLEND, has appointed Avi Marcus chief legal officer and corporate secretary.Marcus brings more than 15 years of executive legal experience across mortgage lending, real estate, financial services, and technology. He ha...

Aug

Las Vegas, NV

More from

Industry News

July CPI Eases Mortgage-Rate Risk, But Doesn’t Promise Relief

Consumer inflation rose just 0.1% in July, reducing pressure for a September Fed rate hike as mortgage rates remain near their highest levels of the year

Industry News

Aug 13, 2026

The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News

Jul 30, 2026

New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News

Jul 15, 2026

First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest