Mortgage rates fall slowly after a month-long rise
The average 30-year-fixed rate mortgage declined one basis point to 3.55% The average 30-year-fixed rate mortgage declined one basis point from the week prior to 3.55% during the week ending Jan. 27, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortg...
Mortgage rates have eclipsed 3.5%
A year ago, the 30-year fixed-rate mortgage averaged 2.77% The average 30-year-fixed rate mortgage climbed to 3.56% during the week ending Jan. 20, rising from 3.45% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%...
Purchase mortgage volume projected to clear $2.1T in ’22, ’23
Freddie Mac’s report forecasts that home price growth will dip from 15.9% in 2021 to 6.2% in 2022 with further cooling next year Despite the expected rise in interest rates, the single-family housing market will continue to boom in 2022, according to a report published by Freddie Mac this we...
Homebuyers are rushing to get mortgages before higher rates price them out
KEY POINTS The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 3.64% from 3.52% last week, according to the Mortgage Bankers Association. Refinance applications fell 3% for the week. Applications for a mortgage to purchase...
Forbearance rate drops below 1.5%
The total number of loans in forbearance decreased by 26 basis points to 1.41% in December Servicers’ forbearance portfolio volume dropped in December to a level below 1.5% for the first time in 18 months. The total number of loans in forbearance decreased by 26 basis points, to 1.41% in Decemb...