Articles Recently Tagged: Mortgages

(21 posts)
Little Movement In 30-Year Mortgage Rate

Little Movement In 30-Year Mortgage Rate

The average rate for a conforming 30-year fixed-rate mortgage ticked up a nominal 2 basis points, from 4.10 percent to 4.12 percent, over the past week.  With little movement over the past three months, the 30-year rate remains near its 62-week low, having last dropped below 4.10 percent in June of 2013. Averaging around 6.7 percent Read More »

Benchmark Mortgage Rate Drops To Ten-Month Low

Benchmark Mortgage Rate Drops To Ten-Month Low

The average rate for a conforming 30-year fixed-rate mortgage has ticked down to 4.10 percent, the lowest rate since October of 2013 when it last dipped to 4.10 percent for a week. Averaging around 6.7 percent over the past twenty years, the 30-year rate hit  a three-year high of 4.58 percent a year ago and an all-time Read More »

30-Year Mortgage Rate Drops To 2014 Low

The average rate for a conforming 30-year mortgage ticked down to 4.12 percent over the past week, matching the 2014 low last recorded in May and the lowest rate since October of 2013 when it dipped to 4.10 percent. Averaging around 6.7 percent over the past twenty years, the 30-year rate hit a three-year high of 4.58 Read More »

Millions Of Borrowers With Low FICO Scores About To Get A Boost

Millions of consumers with low FICO scores are about to get a boost and access to lower cost loans. Announcing a “a more nuanced way to assess consumer collection information,” the Fair Issac Corporation’s new model number nine for calculating a consumer’s FICO score will no longer include a ding for any bills that ended Read More »

Lending Standards Loosening, More Jumbo ARMs In The Market

The availability of mortgage credit is increasing, driven by a rise in the number of jumbo Adjustable Rate Mortgage programs in the market, according to the Mortgage Bankers Association’s latest Mortgage Credit Availability Index. In addition, minimum credit scores and maximum loan-to-value ratios for FHA and VA loans have been loosened while the availability of Read More »

Mortgage Rates Holding, Remain Lower Year-Over-Year

The average rate for a conforming 30-year mortgage ticked up to 4.15 percent over the past week and remains 43 basis points below the three-year high rate of 4.58 percent recorded this past August, 36 basis points lower than at the same time last year when rates spiked following comments from the Fed. The 30-year fixed mortgage Read More »

Mortgage Rates Tick Down, Now Lower Than Last Year

The average rate for a conforming 30-year mortgage ticked down to 4.14 percent over the past week, 44 basis points below the three-year high rate of 4.58 percent recorded this past August and 32 basis points lower than at the same time last year when rates spiked following comments from the Fed. The 30-year fixed Read More »

Loan Application Volumes Drop While Inventories Continue To Rise

Mortgage loan application volume for home purchases across the country fell 6 percent over the past week and loan activity is running 15 percent lower on a year-over-year basis. At the same time, the inventory level of homes for sale across the country is running 14.2 percent higher, year-over-year, up from 9.5 percent higher in Read More »

Mortgage Rates Tick Up For Second Week In A Row

The average rate for a conforming 30-year mortgage ticked back up to 4.20 percent over the past week and is within 38 basis points of the three-year high rate of 4.58 percent recorded this past August. Having averaged 6.67 percent since 1990, the average rate for a 30-year fixed mortgage was 3.98 percent at this Read More »

Fixed Mortgage Rates Hit Seven Month Low, Likely Headed Up

Fixed Mortgage Rates Hit Seven Month Low, Likely Headed Up

The average rate for a conforming 30-year mortgage ticked down from 4.20 to 4.14 percent over the past week, the lowest rate in seven months and 44 basis points below the three-year high rate of 4.58 percent recorded this past August. Having averaged 6.67 percent since 1990, the average rate for a 30-year fixed mortgage Read More »

The Fed Sees Signs Of Easier Mortgages Ahead

While mortgage credit conditions in the U.S. remain “generally tight,” and applications for purchase mortgages remain “tepid,” according to the Fed, signs of easing continue to emerge, including indications of “a net easing of banks’ credit standards for home-purchase loans to prime customers in the first quarter.” The Fed’s summary of the nation’s housing market, Read More »

Mortgage Rate Forecast For 2014

With the Federal Reserve continuing to taper stimulus spending despite a housing recovery that’s “struggling to shift into a higher gear,” Freddie Mac is forecasting  the average rate for 30-year fixed mortgages will begin rising in the second half of 2014 and end the year at “around 4.6 percent.” Last week, the average rate for Read More »

Discount For Going Big With A Jumbo Loan Has Disappeared

Having dropped to a six-month low last week, the average rate for a conforming 30-year mortgage has ticked down one more basis point to 4.20 percent, 38 basis points below the three-year high rate of 4.58 percent recorded this past August. At the same time, Wells Fargo is now advertising a rate of 4.125 percent Read More »

Fixed Mortgage Rates Drop To 2014 Low

Fixed Mortgage Rates Drop To 2014 Low

The average rate for a conforming 30-year mortgage ticked down from 4.29 to 4.21 percent over the past week, the lowest rate in six months and 37 basis points below the three-year high rate of 4.58 percent recorded this past August. Having averaged 6.67 percent since 1990, the average rate for a 30-year fixed mortgage Read More »

Mortgage Activity Drops Despite Move Into Spring Buying Season

At a time of the year when mortgage application volume should be picking up, the Mortgage Bankers Association‘s Purchase Index, a measure of mortgage loan application volume for home purchases across the country, fell 4 percent over the past week and is running 21 percent lower on a year-over-year basis. At the same time, the Read More »