The average 30-year fixed mortgage rate rose from 6.34% to 6.42% for the seven-day period ended Sept. 27, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate rose from 5.98% to 6.09%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages declined from 6.21% to 6.15%, and the average rate for one-year Treasury-indexed ARMs decreased from 5.65% to 5.60%, Freddie Mac reported. Fees and points averaged 0.5 of a point for fixed-rate mortgages and hybrid ARMs, and 0.6 of a point for one-year ARMs. "Consistent with the direction of 10-year Treasury securities, average rates on 30-year fixed-rate mortgages drifted up in the past week to levels close to those at the beginning of the month," said Frank Nothaft, Freddie Mac's chief economist. "Also tracking short-term Treasury notes, average rates on one-year adjustable-rate mortgages dropped by 5 hundredths of a percent. Though it is the fourth consecutive eek rates on ARMs have declined, the share of mortgage applications for ARMs has been trending down, and last week reached its lowest level since March 2003, according to the Mortgage Bankers Association." A year ago, the average 30-year and 15-year fixed rates were 6.31% and 5.98%, respectively, and the average hybrid and one-year ARM rates were 6.00% and 5.47%, Freddie Mac said. Freddie can be found online at http://www.freddiemac.com.
-
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.
11h ago -
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.
11h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
11h ago -
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.
April 25 -
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