Freddie Mac Weekly Update: 30-Year Fixed-Rate Mortgage Rises to 4.60 Percent

30-year fixed-rate mortgage:averaged 4.60 percent with an average 0.7 point for the week ending July 7, 2011, up from last week when it averaged 4.51 percent. Last year at this time, the 30-year FRM averaged 4.57 percent.  

The 15-year fixed-rate mortgage:averaged 3.75 percent with an average 0.7 point, up from last week when it averaged 3.69 percent. A year ago at this time, the 15-year FRM averaged 4.07 percent.  

Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.30 percent this week, with an average 0.6 point, up from last week when it averaged 3.22 percent. A year ago, the 5-year ARM averaged 3.75 percent.

One-year Treasury-indexed ARMs: averaged 3.01 percent this week with an average 0.6 point, up from last week when it averaged 2.97 percent. At this time last year, the 1-year ARM averaged 3.75 percent.   .

Freddie Sayz

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac

Mortgage rates followed Treasury yields higher over the holiday week but remain quite affordable by historical standards. For instance, interest rates on all mortgages outstanding in the first quarter of this year averaged just under 6 percent. With today's rates, these homeowners who have the ability to refinance could shave $169 per month in interest payments on a $200,000, 30-year fixed mortgage

Mortgage Bankers Weekly Survey: Mortgage Applications Decrease

7/06/11

Fixed rate mortgages are changed little this week, at 4.5%.

The MBAA reports their Market Composite Index: (Loan application volume)  decreased 5.2 percent on a seasonally adjusted basis from one week earlier.

Their Refinance Index: decreased 9.2 percent from the previous week and for the last three weeks. However,Mortgage applications also decreased 5.9% from one week earlier The MBAA reports their Purchase Indexincreased 4.4 percent compared with the previous week and was 11.7 percent higher than the same week one year ago.

Key to better numbers is growth, especially job growth. The MBAA forecasts a slower, but positive growth situation. 4th quarter 2010 GDP growth was 3.1%. After a dip to 1.8% this quarter, they see growth through 2012 largely around 2.8%. Not likely a strong scenario for enough job growth to help the housing markets push forward. 

Confirming the trend is the MBAA mortgage orgination forec

Mortgage Bankers Weekly Survey: Mortgage Applications Decrease

6/29/11
Fixed rate mortgages are changed little this week, at 4.5%.

The MBAA reports their Market Composite Index: (Loan application volume) decreased 2.7 percent on a seasonally adjusted basis from one week earlier.
Their Refinance Index: also decreased 2.6 percent from the previous week. However, Mortgage applications also decreased 5.9% from one week earlier The MBAA reports their Purchase Index  decreased 3 percent from thew week earlier
Key to better numbers is growth, especially job growth. The MBAA forecasts a slower, but positive growth situation. 4th quarter 2010 GDP growth was 3.1%. After a dip to 1.8% this quarter, they see growth through 2012 largely around 2.8%. Not likely a strong scenario for enough job growth to help the housing markets push forward.
Confirming the trend is the MBAA mortgage orgination forecast: Mortgage originations (in billions of dollars) are expected to come in at $1025 for 2011 and $961 for 2012.

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Freddie Mac Weekly Update: 30-Year Fixed-Rate Mortgage Drops for Third Consecutive Week

30-year fixed-rate mortgage:averaged 4.87 percent with an average 0.7 point for the week ending March 3, 2011, down from last week when it averaged 4.95 percent. Last year at this time, the 30-year FRM averaged 4.97 percent

The 15-year fixed-rate mortgage: averaged 4.15 percent with an average 0.7 point, down from last week when it averaged 4.22 percent. A year ago at this time, the 15-year FRM averaged 4.33 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.72 percent this week, with an average 0.6 point , down from last week when it averaged 3.8 percent. A year ago, the 5-year ARM averaged 4.11 percent.

One-year Treasury-indexed ARMs: averaged 3.23 percent this week with an average 0.6 point, down from last week when it averaged 3.4 percent. At this time last year, the 1-year ARM averaged 4.27 percent.

Freddie Sayz

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac

Mortgage rates saw an overall improvement this week. Interest rates for 30-year fixed mortgages were almost 0.2 percentage points below this years high set just three weeks ago. This means that homebuyers could now expect to pay $263 less per year on a $200,000 loan

However, housing demand still remains weak. New home sales in January were near record lows dating back to 1963 when the data began, according to the Census Bureau . Similarly, pending sales of existing homes fell for the second consecutive month in January, according to the National Association of Realtor


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Freddie Mac Weekly Update: Mortgage Rates Unchanged at 4.50 Percent

30-year fixed-rate mortgage:averaged 4.50 percent with an average 0.8 point for the week ending June 23, 2011, unchanged from last week when it averaged 4.50 percent. Last year at this time, the 30-year FRM averaged 4.69 percent.  

The 15-year fixed-rate mortgage: averaged 3.69 percent with an average 0.7 point, up  from last week when it averaged 3.67 percent.  A year ago at this time, the 15-year FRM averaged 4.13 percent.        

Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.25 percent this week, with an average 0.6 point ,  down from last week when it averaged 3.27 percent. A year ago, the 5-year ARM averaged 3.84 percent .

One-year Treasury-indexed ARMs: averaged 2.99 percent this week with an average 0.5 point, up from last week when it averaged 2.97 percent. At this time last year, the 1-year ARM averaged 3.77 percent.  

Freddie Sayz

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac

Mortgage rates were virtually unchanged this week amid further indications of a soft housing market. Although  new construction  on single-family homes ticked up in May from April, it was still below the overall pace set in 2010. Moreover,  existing home sales  fell 3.8 percent in May to the fewest since November 2010.
The Federal Reserve  also reiterated that the housing sector continues to be depressed in its June 22nd policy committee statement.  The S&P/Case-Shiller National Home Price Index  fell 2.1 percent between the fourth quarter of 2010 and first quarter 2011. Based on a recent survey by  MarcoMarkets   of 108 professional forecasters taken in early June, the index is predicted to decline another 1.5 percent by the fourth quarter of this year


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Freddie Mac Weekly Update: Mortgage Rates Unchanged at 4.50 Percent

Freddie Mac Weekly Update: Mortgage Rates Unchanged at 4.50 Percent

30-year fixed-rate mortgage:averaged 4.50 percent with an average 0.8 point for the week ending June 23, 2011, unchanged from last week when it averaged 4.50 percent. Last year at this time, the 30-year FRM averaged 4.69 percent.  

The 15-year fixed-rate mortgage: averaged 3.69 percent with an average 0.7 point, up  from last week when it averaged 3.67 percent.  A year ago at this time, the 15-year FRM averaged 4.13 percent.        

Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.25 percent this week, with an average 0.6 point ,  down from last week when it averaged 3.27 percent. A year ago, the 5-year ARM averaged 3.84 percent .

One-year Treasury-indexed ARMs: averaged 2.99 percent this week with an average 0.5 point, up from last week when it averaged 2.97 percent. At this time last year, the 1-year ARM averaged 3.77 percent.  

Freddie Sayz

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac

Mortgage rates were virtually unchanged this week amid further indications of a soft housing market. Although  new construction  on single-family homes ticked up in May from April, it was still below the overall pace set in 2010. Moreover,  existing home sales  fell 3.8 percent in May to the fewest since November 2010.
The Federal Reserve  also reiterated that the housing sector continues to be depressed in its June 22nd policy committee statement.  The S&P/Case-Shiller National Home Price Index  fell 2.1 percent between the fourth quarter of 2010 and first quarter 2011. Based on a recent survey by  MarcoMarkets   of 108 professional forecasters taken in early June, the index is predicted to decline another 1.5 percent by the fourth quarter of this year


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Mortgage Bankers Weekly Update 6/22/11

Fixed rate mortgages are changed little this week, at 4.5%.The MBAA reports their Market Composite Index: (Loan application volume) decreased 5.9 percent over last week

Their Refinance Index: also decreased 7.2 percent from the previous week .However, Mortgage applications also decreased 5.9% from one week earlier The MBAA reports their Purchase Index  decreased 3.9 percent

Key to better numbers is growth, especially job growth. The MBAA forecasts a slower, but positive growth situation. 4th quarter 2010 GDP growth was 3.1%. After a dip to 1.8% this quarter, they see growth through 2012 largely around 2.8%. Not likely a strong scenario for enough job growth to help the housing markets push forward.

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