The average 30-year fixed mortgage rate fell from 5.89% to 5.80% over the seven-day period ended Aug. 18, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate decreased from 5.47% to 5.40%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages fell from 5.40% to 5.34%, and the average rate for one-year Treasury-indexed ARMs climbed from 4.57% to 4.58%. Fees and points averaged 0.5 of a point for fixed-rate mortgages, 0.6 of a point for hybrid ARMs, and 0.7 of a point for one-year ARMs. "Mortgage rates can fluctuate from week to week depending on market conditions and expectations," said Frank Nothaft, Freddie Mac's chief economist. "That is probably what happened this week. Although economic indicators of late have been positive, they were not quite what the market had been expecting." A year ago, the average 30-year and 15-year fixed rates were 5.81% and 5.19%, respectively, and the average one-year ARM rate was 4.01%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18