Skip to main content

Mortgage Rates Take a Slight Drop

Phil Hall
May 18, 2017
Mortgage rates began 2018 on the decline, according to Freddie Mac’s latest Primary Mortgage Market Survey (PMMS)

Mortgage rates were on the decline, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending May 18.
 
The 30-year fixed-rate mortgage (FRM) averaged 4.02 percent, down from last week when it averaged 4.05 percent. The 15-year FRM this week averaged 3.27 percent, down from last week when it averaged 3.29 percent. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.13 percent this week, down from last week when it averaged 3.14 percent.  
 
Sean Becketti, chief economist at Freddie Mac, forecast more rate declines were on the way. “This week's survey closed prior to Wednesday's flight to quality,” he said. “The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week's survey.”

 
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021