The average 30-year fixed mortgage rate rose from 5.56% to 5.63% over the seven-day period ending June 16, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate increased from 5.14% to 5.22%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages rose from 5.01% to 5.10%, and the average rate for one-year Treasury-indexed ARMs climbed from 4.21% to 4.25%. Fees and points averaged 0.5 of a point for fixed-rate mortgages and five-year hybrid ARMs and 0.7 of a point for one-year ARMs. "Although the 30-year mortgage rate ticked up this week, which wasn't completely unexpected, it is still below last year's annual average and well below where it was at this time last year," said Frank Nothaft, Freddie Mac's chief economist. "Driven by low mortgage rates, recently released single-family housing starts for May continued to advance." A year ago, the average 30-year and 15-year fixed rates were 6.32% and 5.70%, respectively, and the average one-year ARM rate was 4.13%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.
-
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
1h ago -
The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
4h ago -
Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17