Mortgage rates eased again for the fourth-straight week but remain almost a full percentage point over last year at this time, a key reason buyers continue to hold back and why the market remains sluggish. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate mortgage rate at 7.11%, down…
Mortgage rates came down for the third-straight week, but whether the recent trend is a sign of things to come remains unknown, although economists point toward any progress in a resolution in the Middle East as a step in the right direction. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average…
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Mortgage rates ticked down a bit this past week but landing at 7.3%, it wasn’t enough to move the needle for buyers submitting loan applications for 30-year-fixed rate mortgages. Sitting almost a full percentage point lower, adjustable rate mortgages (ARMs) however continue to be attractive for buyers looking to start out with a lower monthly…
Mortgage rates edged down for the second consecutive week, a move buyers hope will continue, but economists say may not have much of an impact on the market. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate mortgage rate at 7.24%, down eight basis points from 7.32% last week…
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The Mortgage Bankers Association’s (MBA) latest survey recorded a modest but positive 3.4% increase in mortgage loan application volume from last week’s survey. The mortgage loan application volume, also known as the Market Composite Index, is MBA’s measure of the mortgage purchases, refinances and other mortgage activities in the week before the survey’s release. Data…
Mortgage rates and the 10-year Treasury yield dropped this past week, offering homebuyers brief relief after two months of steady increases. The decline followed a wave of economic data that drove cautious investors into the safety of the bond market. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate…
Mortgage rates held steady this week, remaining unchanged from last week but still lingering at a near three-year high–a level one economist says is having a “chilling effect” on the housing market. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate mortgage rate remaining at 7.40%, the same level…
As mortgage rates for traditional 30-year fixed-rate loans reached a near three-year high last week, buyers are increasingly turning to adjustable-rate mortgage (ARM) applications to reduce their monthly costs. Economists have watched the ARM share of overall applications climb to one-year high of 10.5% in recent weeks, driven by introductory rates that sit almost a…
Editor’s Note: The Mortgage Mix is RISMedia’s highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. The numbers: Mortgage rates continue to reach new highs each week, quickly climbing in the 7% range and hitting a “nearly three year high,” as noted by Mortgage Bankers Association (MBA) President and CEO Bob…
In an effort toward making credit evaluations simpler and more borrower-friendly, mortgage lender United Wholesale Mortgage (UWM) has announced a process enhancement that automatically selects the best credit score returned for a consumer by obtaining FICO® Scores and VantageScore® 4.0 on all credit pulls. The firm says the move will ensure it provides the borrower…
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