Tag Archives: Mortgage Rates

The average interest rate for a 30-year fixed-rate mortgage (FRM) product was 3.93 percent (0.5 point) for the week ending December 11, Freddie Mac reported Thursday in its Primary Mortgage Market Survey. The average 30-year fixed rate was 3.89 percent a week ago and 4.42 percent this time last year.

In its monthly National Housing Survey, Fannie Mae found consumer attitudes about the current state of the housing market ranged from flat to pessimistic in November after an October marked by more hopeful responses.

The average interest rate for a 30-year fixed-rate mortgage fell to 3.89 percent for the week ending December 4, Freddie Mac reported Thursday in its Primary Mortgage Market Survey. According to the company, it was the lowest average 30-year rate recorded since the end of May last year.

Delivering comments to a group of REO brokers and agents, Ed Delgado, president and CEO of the Five Star Institute, offered his take on how the stage is set for the mortgage sector in 2015. "There are several embedded risks in the mortgage market that pose future risk of performance that have yet to be expressed," Delgado remarked. "In effect, the market may not be recovering at the rate that we think it is."

In its Primary Mortgage Market Survey, Freddie Mac recorded the average 30-year fixed interest rate at 3.99 percent (0.5 point) for the week ending November 20, just down from an average of 4.01 percent last week. Last year at this time, the 30-year fixed-rate mortgage (FRM) averaged 4.22 percent.

In its latest Origination Insight Report, released Thursday, mortgage technology provider Ellie Mae reported that refinancing activity accounted for 40 percent of overall mortgage volume in October, marking the highest level since March. Despite the increase in demand, lenders were able to improve their closing time on refinance loans.

Despite the fact that 30-year fixed mortgage rates dipped below 4 percent in October, the number of buyers looking to tour homes cooled off. At the same time, the rate drop triggered a hefty increase in signings last month, according to Redfin, which released its latest look at homebuying activity on Friday.

According to Interest.com's 2014 Home Affordability Study, middle-income families can afford a median-priced home in fewer than half of the country's 25 largest metros as house prices and mortgage rates outpace wage growth. While home price gains have slowed to a more reasonable rate of 4 percent nationally over the past year, that increase is still well ahead of the 2 percent pickup in incomes.

The National Association of Home Builders (NAHB) reported that 61.8 percent of new and existing homes sold from July through September were affordable to American households earning the median U.S. income of $63,900. That was down from the 62.6 percent of homes sold that were affordable to median-income earners in the second quarter.

Freddie's Primary Mortgage Market Survey, released Thursday, shows the 30-year fixed-rate mortgage (FRM) coming in at an average interest rate of 4.01 percent (0.5 point) for the week ending November 13, just down from last week's average of 4.02 percent.