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Posts Tagged ‘year mortgage’

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.

(Image credit: HousingWire)

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%.

(Image credit: moneycontrol)

Mortgage Apps Fall, Interest Rate Rises

August 23rd, 2012 Comments off

nationalmortgagenews reports the Mortgage Bankers Association (MBA) says mortgage applications fell 7.4 percent for the week ending Aug. 17, and the refinance share dropped from 81% to 80% to its lowest level in six weeks, while average interest rates for a fixed-rate 30-year mortgage (FRM) nudged up ten basis points from the previous week to 3.86 percent. Home Affordable Refinance Applications (HARP) made up 24 percent of all refi apps. MHProNews has learned the average 15-year FRM rose three basis points to 3.15 percent.

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MH Business Booming in Boise

August 22nd, 2012 Comments off

he Idaho Statesman reports from Boise’s Adam Hiaring, assistant manager at a Clayton Homes dealership, that customers have been able to buy a house on layaway, saving up a down payment while locking in the price and mortgage rate, since March of this year. Hiaring says sales have been good because of the shortage of homes for sale in the Treasure Valley, noting a customer could have the land and a home to set on a foundation for around $120,000. “Right now, business is as good as it’s been in five or six years,” he says. “Sales are up 300 percent over last year.” He says he has sold 49 homes this year, and that Clayton will lock in a rate of four to 4.25 percent on a 30-year mortgage with a 3.5% down payment. “All money is refundable if the customer doesn’t go through with the home purchase.” In addition, buyers of Energy Star homes will receive a $500 credit from Idaho Power. MHProNews understands Clayton Homes is the largest producer of manufactured homes in the country.

(Image credit: Clayton Homes)

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. MHProNews.com 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)

Mortgage Rates Barely Move

April 20th, 2012 Comments off

HousingWire says average weekly mortgage rates barely changed from last week, the Freddie Mac survey showing the average 30-year fixed rate mortgage (FRM) moving little, from 3.88 percent to 3.9 percent this week. MHProNews.com has learned last year the 30-year FRM averaged 4.87 percent. The 15-year FRM also moved little from last week to this, 3.11 percent to 3.13 percent. Last year’s average for this popular refinancing document was 4.1 percent. Five-year, Treasury-indexed hybrid adjustable-rate mortgages averaged 2.78%, a drop from 2.85% the prior week, and a decrease from 2.85% a year earlier. Treasury-indexed one-year adjustable rate mortgages (ARMs) averaged 2.81 percent, 2.80 percent last week and 3.22 percent last year.

(Image credit: BankRate)