The average 30-year fixed mortgage rate rose from 6.11% to 6.12% over the seven-day period ended Dec. 14, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate rose from 5.84% to 5.86%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages was unchanged at 5.92%, and the average rate for one-year Treasury-indexed ARMs increased from 5.43% to 5.45%, Freddie Mac reported. Fees and points averaged 0.4 of a point for 30-year fixed-rate mortgages, 0.5 of a point for 15-year fixed-rate mortgages, 0.6 of a point for hybrid ARMs, and 0.8 of a point for one-year ARMs. "Mixed economic reports have kept mortgage rates from making any drastic changes this week," said Frank Nothaft, Freddie Mac's chief economist. "On the upside, there was stronger job growth and greater-than-expected retail sales in November. Offsetting that news was weaker wage growth in that same time frame and lower indications of consumer sentiment in December." A year ago, the average 30-year and 15-year fixed rates were 6.30% and 5.85%, respectively, and the average hybrid and one-year ARM rates were 5.77% and 5.15%, respectively, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.
-
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
1h ago -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
2h ago -
Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
6h ago -
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
7h ago -
Better's home equity loan product can be originated in a week or less, the company says.
7h ago -
The top five producers had an average dollar loan volume of more than $140 million in 2023.
11h ago