The average 30-year fixed mortgage rate fell to 7.42% for the week ending Dec. 15 from 7.54% theweek before, according to Freddie Mac's Primary Mortgage Market Survey. The average 15-year fixed mortgagerate fell from 7.19% to 7.11%, while the average rate for one-year Treasury-indexed adjustable-rate mortgages droppedfrom 7.21% to 7.05%. Fees and points averaged 1.0 point for ARMs and 0.9 point for fixed-rate mortgages. "Employmentdata released last week shows job growth at a lower-than-expected rate and reaffirms the notion that the economyis slowing," said Robert Van Order, Freddie Mac's chief economist. "That is the kind of news that easesinflation fears, which, in turn, allows mortgage rates to settle at lower levels. The Producer Price Index released[Dec. 14] also points to a low level of inflation, bolstering the feeling in the financial markets that the FederalReserve may lower rates early in the new year." A year ago, the average 30-year and 15-year fixed rates were7.86% and 7.47%, respectively, and the average one-year ARM rate was 6.49%, Freddie Mac said.
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The industry's biggest opportunities involve the evolving cost of capital, which will shift funding sources from the private, local lending markets to institutional sources.
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The average owner experienced a four-figure decline in the first quarter compared to the same period last year even though the negative equity share is low.
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The company also made several new executive appointments in 2025 as it aims to turn itself into a national one-stop shop with end-to-end home buying services.
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The transaction is the first in what is planned to be a continued series of purchases by the new fund as it continues to raise capital from investors.
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Secondary market interest in home equity contracts is drawing new participants, with 2025 securitization activity ahead of last year, industry leaders said.
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The House and Senate will need to resolve a slight difference between their versions of the bill before sending it to President Donald Trump for his signature.
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