With the COVID-19 pandemic still raging across the U.S., the mortgage industry is still seeing mortgage rates flirt with all-time low numbers. Freddie Mac's Primary Mortgage Market Survey (PMMS) revealed that the 30-year fixed-rate mortgage is averaging 3.31%.
"Mortgage rates continue to hover near all-time lows for the third straight week. As a result, refinance activity remains high, but home purchase demand is weak due to economic tightening,” said Sam Khater, Freddie Mac’s Chief Economist. "While new monthly economic data are driving markets lower this week, they are a lagging indicator and should be priced in already. Real time daily economic activity metrics suggest that the economy will likely not decline much further. Going forward, the key question is no longer the depth of the economic contraction, but the duration."
McCargo was first woman and first woman of color at the helm of Ginnie Mae.
The U.S. Department of Housing and Urban Development (HUD) today announced that Alanna McCargo, president of the Government National Mortgage Association (Ginnie Mae), will resign, effective May 3, 2024.
McCargo has served in the Biden-Harris Administration since January ...
Maximum Acceleration hires mortgage exec. as education director, adds banking manager
Brandon Christensen, a longtime mortgage broker and trainer, has been named Director of Education and National Instructor for Maximum Acceleration LLC, a leading NMLS-approved course provider for mortgage pre-license and continuing education.
"Having Brandon join our amaz...