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Posts Tagged ‘15-year FRM’

Job Growth Spurs Mortgage Rates

December 5th, 2013 Comments off

On the heels of ADP’s report that private companies added 215,000 jobs in November, the 30-year, fixed-rate loan, the most popular product for homebuyers, rose to 4.46% from 4.29% last week, according to CNNMoney. The average for a 15-year fixed-rate mortgage (FRM), often used for refinancing higher interest mortgages, rose from 3.30 percent to 3.47 percent. Rates for the 30-year loan have ranged this year from 3.34 percent to 3.58 percent. In addition, MHProNews has learned auto sales have reached their highest mark since 2007, which likely also contributed to the mortgage rate increase. Says Keith Gumbinger of mortgage information site HSH.com, “If the economy is gaining steam, even just a little, mortgage and other interest rates will firm right along with it.”

(Image credit: texaslendingtoday.com)

Loan Rates, Loan Values Show Incremental Change

October 12th, 2011 Comments off

HousingWire reports the Mortgage Banker’s Association (MBA) says the measure of loan application volume rose 1.3 percent on a seasonally-adjusted basis this past week. The refinance and purchase indices each increased just over one percent, driven by government loans. The 30-year fixed-rate mortgage (FRM) increased 0.07% to 4.25, while the 30-year jumbo FRMs rose 0.10% to 4.59. The FHA’s (Federal Housing Authority) 30-year fixed rate grew 0.01% to 4.06, while the 15-year FRM went from 3.49% to 3.53%. The average loan size dropped from $212,736 in August to $210,863, while the average refinanced loan fell from $241,323 to $237,632 the previous month.

(Graphic credit: MBA)