Skip to main content

Mortgage Rates Slightly Lower

Phil Hall
Nov 01, 2018
Mortgage rates took a tumble, according to the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac

Mortgage rates took a slight dip in the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac.
 
The 30-year fixed-rate mortgage (FRM) averaged 4.83 percent for the week ending Nov. 1, down from last week when it averaged 4.86 percent. The 15-year FRM this week averaged 4.23 percent, down from last week when it averaged 4.29 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.04 percent, down from last week when it averaged 4.14 percent.
 
Sam Khater, Freddie Mac’s Chief Economist, insisted that any increase in mortgage rates will not damage the housing market or the wider economy.
 
“While higher mortgage rates have led to a decline in home sales this year, the weakness has been concentrated in expensive segments versus entry-level and first-time buyer which remains firm throughout most of the rest of the country,” Khater said. “Despite higher mortgage rates, the monthly mortgage payment remains affordable. For many buyers the chronic lack of entry-level supply is a larger hurdle than higher mortgage rates because choices are limited and the inventory shortage has caused home prices to rise well above fundamentals.”
Mortgage rates took a slight dip in the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac

 
Published
Nov 01, 2018
ChainLogix Appoints New Vice President, Operations

Jeryl Graham hired to accelerate growth in title & mortgage services.

Industry News
Oct 15, 2021
JPMorgan Chase To Commit $8.4M To Improve Household Stability For The Underserved

JPMorgan Chase announced six organizations that will receive philanthropic capital as part of the firm’s $400 million five-year commitment to improve housing affordability and stability for Black, Hispanic and Latino, and other underserved households.

Community
Oct 15, 2021
SRE Mortgage Alliance 'Restructuring & Reorganizing'

Owner of technology-based wholesale residential mortgage lender in El Segundo to determine organization's future.

Wholesale
Oct 15, 2021
Ginnie Mae Issued Record MBS Volume In FY2021

The record $939 billion issued included nearly $73 billion in September.

Industry News
Oct 14, 2021
UWM Completes Test Of Cryptocurrency Mortgage Payments

United Wholesale Mortgage evaluated and accepted the first-ever cryptocurrency mortgage payment in September and an additional five payments in October from borrowers.

Industry News
Oct 14, 2021
Arvielo Re-Appointed To HUD Advisory Committee

Nationwide mortgage lender New American Funding’s Co-Founder and President Patty Arvielo has been re-appointed to serve on the U.S. Department of Housing & Urban Development's Housing Counseling Federal Advisory Committee.

Industry News
Oct 13, 2021