The average 30-year fixed mortgage rate fell from 6.32% to 6.30% over the seven-day period ended Dec. 15, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate fell from 5.87% to 5.85%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages decreased from 5.78% to 5.77%, and the average rate for one-year Treasury-indexed ARMs declined from 5.16% to 5.15%. 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. "Earlier in the week, interest rates were a bit higher, as financial markets were a little anxious about what language the Federal Reserve would use in its statement this month," said Frank Nothaft, Freddie Mac's chief economist. "When the Fed signaled that its interest rate tightening might be coming to an end, the financial market breathed a sigh of relief, and rates eased somewhat." A year ago, the average 30-year and 15-year fixed rates were 5.68% and 5.11%, respectively, and the average one-year ARM rate was 4.18%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.
-
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
3h ago -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27 -
Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
March 27