The average 30-year fixed mortgage rate fell from 6.22% to 6.21% over the seven-day period ended Jan. 5, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate was unchanged at 5.76%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages decreased from 5.79% to 5.78%, and the average rate for one-year Treasury-indexed ARMs rose from 5.15% to 5.16%. Fees and points averaged 0.5 of a point for fixed-rate mortgages and 0.7 of a point for ARMs. "Financial markets paused this week, trying to decipher the December minutes of the Federal Reserve's monetary policy committee, which seemed to hint that the Fed might slow the pace of rate hikes in 2006," said Frank Nothaft, Freddie Mac's chief economist. "As a result, mortgage rates were little changed this week. Interest rates for 30-year fixed-rate mortgages currently are below the monthly averages set in November and December 2005." A year ago, the average 30-year and 15-year fixed rates were 5.77% and 5.21%, respectively, and the average one-year ARM rate was 4.10%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25