The average 30-year fixed mortgage rate jumped to 5.79% for the week ending April 9 from 5.52% the previous week, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate rose from 4.84% to 5.12%, and the average rate for one-year Treasury-indexed ARMs climbed from 3.46% to 3.65%. Fees and points averaged 0.7 of a point for fixed-rate mortgages and 0.5 of a point for ARMs. "The bond market reacted to the welcome news [April 2] that jobs are finally being created, which is much needed for continued expansion of the economy," said Amy Crews Cutts, Freddie Mac's deputy chief economist. "Mortgage rates again followed the bond market, rising significantly from last week to this week, and spurring speculation that the Federal Reserve Board will raise rates sooner rather than later." A year ago, the average 30-year and 15-year fixed rates were 5.85% and 5.17%, respectively, and the average one-year ARM rate was 3.80%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.
-
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
2h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
2h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
2h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
5h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25