The average 30-year fixed mortgage rate fell from 5.80% to 5.77% over the seven-day period ended Aug. 25, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate decreased from 5.40% to 5.35%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages fell from 5.34% to 5.30%, and the average rate for one-year Treasury-indexed ARMs declined from 4.58% to 4.56%. Fees and points averaged 0.5 of a point for 30-year fixed-rate mortgages, 0.6 of a point for 15-year FRMs and hybrid ARMs, and 0.7 of a point for one-year ARMs. "New-home sales hit a record in July, while existing-home sales were at the third-highest level they have ever been," said Frank Nothaft, Freddie Mac's chief economist. "There is no doubt that low mortgage rates have been the driver of this phenomenal housing market." A year ago, the average 30-year and 15-year fixed rates were 5.82% and 5.21%, respectively, and the average one-year ARM rate was 4.05%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.
-
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
53m ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
1h ago -
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