Skip to main content

Fixed Mortgage Rates and Credit Availability Down

Jun 08, 2017
The median home will be worth $6,275 more a year from now, according to new data released by Zillow

The 30-year fixed mortgage rate fell for the fourth consecutive week and hit its lowest level in nearly seven months, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending June 8.
 
The 30-year fixed-rate mortgage (FRM) averaged 3.89 percent, down from last week when it averaged 3.94 percent. The 15-year FRM this week averaged 3.16 percent, down from last week when it averaged 3.19 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.11 percent this week, unchanged from last week.
 
Separately, the Mortgage Bankers Association (MBA) reported that monthly Mortgage Credit Availability Index (MCAI) dropped by 1.1 percent to 181.0 in May. Two of the four component indices saw decreases (the Government MCAI was down 1.9 percent and the Conforming MCAI fell by 0.3 percent) and two saw increases (the Conventional MCAI was up 0.2 percent and the Jumbo MCAI was up 0.8 percent).
 
"Credit availability slipped in May, primarily driven by investors consolidating their offerings for government insured loans," said MBA Vice President of Research and Economics Lynn Fisher. "These decreases were partially offset by continued expansion among jumbo loan programs. The Jumbo MCAI has increased in 13 of the last 15 months."

 
About the author
Published
Jun 08, 2017
Rocket's All-American Return To The Super Bowl

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

Feb 10, 2025
Homebuilders Cheer Delay Of Trump Trade War

Canada and Mexico stave off tariffs on billions of dollars of materials crucial to the U.S. homebuilding industry

Feb 04, 2025
OCMBC President Arrested For DUI, Murder

Serene Vernon (Rosenberg) had three prior convictions, per a police report

Feb 02, 2025
Trump Fires CFPB Director Chopra

Chopra posts a letter to X with his final statements

American Heritage Lending Halts Funding Loans In Maryland

AHL suspended the ability to lock new consumer loans in Maryland, effective immediately

Jan 31, 2025
Katie Sweeney Joins Rocket Pro To Lead Broker Strategy, Advocacy

The former AIME chairwoman and CEO asks the broker community, particularly Rocket Pro’s brokers, to trust her. 

Jan 29, 2025