The average rate for a 30-year fixed-rate mortgage in Freddie Mac’s latest weekly survey dropped two basis points to 3.37%, just a basis point above its record low.
The average rate for a 15-year FRM was four basis points lower during the week ending Oct. 18 at 2.66%.
Shorter-term rates rose slightly compared to
A year ago, rates were as follows: 4.11% for a 30-year loan, 3.38% for a 15-year loan, 3.01% for a five-year Treasury hybrid and 2.94% for a one-year Treasury ARM.
The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.
A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.
Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.
A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.
Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.
LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.
