The 30-year fixed-rate mortgage (FRM) averaged 4.54 percent for the week ending Sept. 6, up from last week when it averaged 4.52 percent. The 15-year FRM this week averaged 3.99 percent, up from last week when it averaged 3.97 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.93 percent, up from last week when it averaged 3.85 percent.
“Borrowing costs may be slowly on the rise again in coming weeks, as investors remain optimistic about the underlying strength of the economy,” said Sam Khater, Freddie Mac’s chief economist. “It’s important to note that rates are now up three-quarters of a percentage point from last year and home prices, albeit at a slower pace, are still outrunning rising inflation and incomes. This weakening in affordability is hindering many interested buyers this fall, even as the robust economy brings them into the market. The good news is that purchase mortgage applications have recently rebounded to above year ago levels.”
Location will be headed by branch manager Jesse Seidel.
Geneva Financial, a direct mortgage lender, has announced the opening of a new branch in Greenwood Village, Colo., led by branch manager Jesse Seidel.
Seidel and his new branch serve homebuyers throughout the state and over 15 other states ac...
Rick Hogle will manage overall performance of retail operations.
Cherry Creek Mortgage, a nationwide, full-service mortgage lender, announced Rick Hogle has joined the company as chief revenue officer, where he will manage the overall performance of Cherry Creek’s retail operations.
In his new role, Hogle will oversee the growth and deve...
The legal battle between REX Home Loans (Real Estate Exchange, Inc.) and NAR continues to heat up, even though REX is reported to have shut down operations.
Sustainable Communities Innovation Challenge seeks ideas to advance racial equity in housing, focusing on addressing supply, funding and credit barriers.