Posts Tagged ‘frm’

Thirty-year Mortgage near Record Low

May 3rd, 2013 Comments off

For the fifth consecutive week, according to what nationalmortgagenews tells MHProNews, the average 30-year fixed-rate mortgage (FRM) has dropped to 3.35 percent, and is now closing in on the record low of 3.31 percent set the week of Nov. 21, 2012. The fixed-rate 15-year mortgage set a new record low at 2.56 percent for the week ending May 2. A one-year average Treasury adjustable-rate mortgage (ARM) fell three basis points to 2.62%. One year ago weekly rate averages were 3.84% for a 30-year FRM and 3.07% for a 15-year FRM. A five-year Treasury hybrid was 2.85 percent, and a one-year Treasury ARM was 2.7 percent.

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Mortgage Apps at Highest Level in 20 Months

January 16th, 2013 Comments off

NationalMortgageNews reports on a seasonally adjusted basis, purchase applications rose 13 percent over the week ending Jan. 4, but are up 47 percent on an unadjusted basis, their highest level since April 2011, according to the Mortgage Bankers Association (MBA). Noting home sales burgeoning in Calif. in Dec. because of concerns over the fiscal cliff, DataQuick says home sales in Southern Calif. are at their highest level in three years. As MHProNews understands, Calif. once had one of the higher foreclosure rates in the nation. The average contract interest rate for a 30-year fixed rate mortgage (FRM) with conforming loan balances stood at 3.61 percent, while the average for an FHA-insured loan of 30 years rose four basis points to 3.39 percent. The MBA also says a jumbo 30-year FRM rose ten basis points to 3.88 percent, while the 15-year jumbo remained steady at 2.88 percent.

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Interest is Up, so are Apps

January 10th, 2013 Comments off

According to originationnews, the Mortgage Bankers Association (MBA) says despite the interest rate for a 30-year fixed-rate mortgage (FRM) with conforming loan balances having increased nine basis points to 3.61%, mortgage apps rose 11.7 percent for the week ending Jan. 4. This interest rate is the highest in two months. The average contract rate for a 30-year FHA-insured loan moved up one basis point to 3.35 percent. MHProNews has been informed while the Refinance Index rose by 12 percent, the seasonally-adjusted Purchase Index increased ten percent.

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Refis Fall, Interest Rate Remains Low

January 4th, 2013 Comments off

As originationnews reports, the Mortgage Bankers Association (MBA) says refinancings the last two weeks ending Dec. 28 were at their lowest point since April, as refis dropped 21.6 percent on a seasonally-adjusted basis. The average contract interest rate for a 30-year fixed rate mortgage (FRM) increased one basis point to 3.52 percent from the week ending Dec. 21 to the week ending Dec. 28. As MHProNews has learned, the 30-year FHA-insured interest rate dropped a point to 3.34 percent. For jumbo 30-year FRMs, the average contract rate fell two points to 3.75; for 15-year FRMs it rose two points to 2.86 percent.

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Lowest Interest Rate in 65 Years

December 28th, 2012 Comments off

According to Freddie Mac’s Primary Mortgage Market Survey, HousingWire reports interest rates will finish out the year at near record lows. For the week ending Dec. 27, the average 30-year fixed-rate mortgage (FRM) hit 3.35 percent, down from 3.37 percent the previous week, and well below 3.95 percent from a year ago. Frank Nothaft, Freddie Mac chief economist and V.P., says, “The 30-year fixed-rate mortgage averaged 3.66% for 2012, the lowest annual average in at least 65 years. Unchanged from last week was the 15-year FRM at 2.65 percent, but well below 3.24 percent a year ago. As MHProNews has learned, with the 30-year FRM nearly .06 points below the Jan 1, 2012 rate, a borrower could save almost $98,600 over the life of a $200,000 mortgage.

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Average 30-year FRM Rises

December 21st, 2012 Comments off

According to originationnews, for the week ending Dec. 20 Freddie Mac says the average rate for a 30 year fixed-rate mortgage (FRM) rose by five basis points to 3.37 percent while the average 15-year FRM dropped one point to 2.65 percent. The average rate for a five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) rose one point to 2.71 percent, while the-one year Treasury ARM dropped one point to 2.52 percent. As MHProNews has learned, one year ago the average 30-year FRM hit 3.91 percent, average 15-year FRMs were at 3.21 percent, five-year Treasury-indexed hybrids averaged 2.85 percent and one-year Treasury ARMs were 2.77 percent.

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Mortgage Applications Fall

October 24th, 2012 Comments off

NationalMortgageNews tells MHProNews according to the Bankers Mortgage Association applications fell 12 percent for the week ending Oct. 19, 2012. Mortgage apps fell 4.2 percent the previous week, according to the trade group’s market composite index, which covers some 75 percent of residential retail lenders. Refinancings as a total of new business fell one percent from the previous week to 81 percent. Interest rate for a 30-year fixed-rate mortgage (FRM) rose to 3.63 percent from 3.57 percent. The rate for 30-year jumbo FRMs increased from 3.81 percent to 3.85 percent.

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Historic Lows for Mortgages

September 21st, 2012 Comments off

Theolympian tells MHProNews Freddie Mac says the average on a 30-year fixed rate mortgage (FRM) fell to 3.49 percent from 3.55 percent last week, matching its lowest rate since long-term mortgages began in the 1950’s. The 15-year FRM dropped to its lowest rate ever, 2.77 percent, from 2.85 percent last week, and below its previous record low of 2.80 percent. The Federal Reserve’s announcement last week that it will buy bonds likely pushed the mortgage rate lower, as the Fed attempts to further stimulate the housing market and the economy as a whole.

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30-Year FRM Slides, Mortgage Apps Slow

September 6th, 2012 Comments off

According to information from Freddie Mac, as originationnews says, the average for a fixed rate 30-year mortgage fell four points during the week ending Sept. 6 to 3.55%, compared to 4.12% a year ago. The Mortgage Bankers Association (MBA) tells MHProNews mortgage applications have fallen recently but lenders report the pipelines remain strong. Meanwhile, the average 15-year mortgage remained at 2.86%, the same as the week before. The five-year Treasury-indexed hybrid ARM dropped three basis points to 2.75%, while the rate for a one-year Treasury ARM fell two basis points to 2.61%.

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30-year FRM Keeps Falling

July 6th, 2012 Comments off

NationalMortgageNews reports Freddie Mac says ten out of the last eleven weeks the average fixed-rate 30-year mortgage (FRM) has set new lows, with the week just ending July 5 marking another one at 3.62 percent. The average 15-year FRM fell to 2.89 percent. The average five-year hybrid remained at 2.79 percent, while the average one-year Treasury adjustable rate mortgage (ARM) was 2.68 percent. has learned a year ago the average 30-year rate was 4.6 percent, while the average 15-year rate was 3.75 percent. The average five-year treasury hybrid was the same 2.79 percent, but the one-year Treasury ARM was 2.74 percent.

(Image credit: BankRate)