Archive for the 'Home loans' Category
Senate Backs Plan to Help Americans Buy Homes
October 21st, 2011
Written by Frost Mortgage
The Senate voted 60-38 to continue to allow the government to buy or insure home loans for as much as $729,500 in expensive housing markets. The higher conforming loan limit lapsed at the end of September, falling back to $625,500, but most senators believe the lower ceiling would make it more difficult for people to buy homes and would further weaken the housing market. The proposal will be attached to a spending bill that the chamber will consider later this year.
Reuters (10/21/11) Younglai, Rachelle
Discussion: No Comments »
Fixed Rate Mortgages Hit Record Low of 4.01 Percent
September 30th, 2011
Written by Frost Mortgage
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), coming on the heels of the Federal Reserve’s recent announcements as the conventional 30-year fixed-rate mortgage (FRM) averaged an all-time record low at 4.01 percent, with an average 0.7 point for the week ending Sept. 29, 2011, down from the previous week when it averaged 4.09 percent. Last year at this time, the 30-year FRM averaged 4.32 percent.
www.nationalmortgageprofessional.com
Discussion: No Comments »
Mortgage Rates Hit 4.15 Percent, Lowest Mark in Five Decades
August 18th, 2011
Written by Frost Mortgage
Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS), showing mortgage rates, fixed and adjustable, reaching all-time record lows providing further incentive for those homeowners looking to refinance. The 30-year fixed-rate mortgage (FRM) averaged 4.15 percent with an average 0.7 point for the week ending Aug. 18, 2011, down from last week when it averaged 4.32 percent. Last year at this time, the 30-year FRM averaged 4.42 percent. The 30-year fixed average of 4.15 percent, breaks the previous record low of 4.17 percent set on Nov. 11, 2010.
Thu, 2011-08-18 10:32 — NationalMortgag…
Discussion: No Comments »
Mortgage Rates Keep Dropping
August 12th, 2011
Written by Frost Mortgage
Mortgage borrowing costs continued a downward trend this week, according to Freddie Mac, as 30-year fixed rates dipped to the lowest point of the year and 15-year fixed interest fell to an all-time low. Freddie Mac said interest on the former averaged 4.32 percent, while the latter settled at 3.5 percent. The favorable rates sent loan applications up more than 20 percent, the Mortgage Bankers Association indicated, with refinance activity climbing 30 percent.
Los Angeles Times (08/12/11) Reckard, E. Scott
Discussion: No Comments »
Mortgage Rates Hold Near Lows
July 5th, 2011
Written by Frost Mortgage
Mortgage interest remained near annual lows last week, with the 30-year fixed rate averaging 4.51 percent compared to the year’s low of 4.49 percent reached three weeks ago. The 15-year fixed rate, meanwhile, stood fast at 3.69 percent after hitting its 2011 low of 3.47 percent two weeks ago. Trackers say expiration of the central bank’s $600 billion bond purchasing program — which pushed down Treasury yields and, subsequently, mortgage rates — could mean higher interest this summer.
Detroit News (07/04/11) Kravitz, Derek
Discussion: No Comments »
Home Loan Rates Hover Near Lows
June 24th, 2011
Written by Frost Mortgage
Freddie Mac reports that average interest on 30-year fixed mortgages was flat at 4.50 percent this week, while 15-year fixed loans rose from a 2011 low of 3.67 percent a week ago to 3.69 percent. The 30-year loan fell to a yearly low of 4.49 percent two weeks ago. Meanwhile, average interest on five-year adjustable-rate mortgages slid from 3.27 percent to 3.25 percent – its lowest level since researchers began tracking the statistic in 2005.
Modesto Bee (CA) (06/24/11) Wagner, Daniel
Discussion: No Comments »
Mortgage Rates Hold Steady
June 17th, 2011
Written by Frost Mortgage
Freddie Mac reports that the 30-year fixed mortgage rate drifted up to 4.50 percent in the week ended June 16 from 4.49 percent a week earlier. Meanwhile, rates on 15-year fixed loans dipped to 3.67 percent from 3.68 percent over that same time span. Frank Nothaft, Freddie Mac’s chief economist, said rates held steady as market participants shrugged off recent reports that inflation was trending up.
Wall Street Journal (06/17/11) P. C9 Fitzgerald, Drew; Kell, John
Discussion: No Comments »
VA Loan Program Grows, Prospers
June 14th, 2011
Written by Frost Mortgage
The Mortgage Bankers Association reports a 4.52 percent serious delinquency rate for VA loans at the end of March, versus 5.58 percent for prime mortgages. Experts say the VA program’s success, despite originating loans with no down payments, is rooted in its focus on military borrowers and an automated servicing system that allows staff to track individual loans and efforts by servicers to help borrowers. The program also uses a “single point of contact” model so that every defaulted loan is handled by a specific staffer; and it employs “supplemental servicing” so that troubled borrowers who do not respond to the servicer are contacted by agency staffers.
(More)
American Banker (06/14/11) P. 9 Collins, Brian
Discussion: No Comments »
Mortgage Rates Set Fresh 2011 Low After Jobs Report
June 10th, 2011
Written by Frost Mortgage
With employers adding far fewer private-sector jobs than anticipated, the latest Freddie Mac data show home loan rates fell for an eighth consecutive week to a new low for the year. The 30-year fixed mortgage averaged 4.49 percent, down from 4.55 percent last week. Interest on 15-year fixed loans, meanwhile, dipped to 3.68 percent from 3.74 percent. Five-year adjustable-rate mortgages sank to 3.28 percent from 3.41 percent, and one-year ARMs dropped to 2.95 percent from 3.13 percent.
Wall Street Journal (06/10/11) P. C9 Fitzgerald, Drew
Discussion: No Comments »
30-Year Mortgage Rate Again Hits 2011 Low
May 27th, 2011
Written by Frost Mortgage
Fixed mortgage rates have fallen for six straight weeks, with 30- and 15-year loans dipping to their lowest levels since mid-December and late November, respectively. Freddie Mac reports that the 30-year loan averaged 4.60 percent this week, down from 4.61 percent; and the 15-year loan averaged 3.78 percent, down from 3.80 percent. Five-year adjustable-rate mortgages slipped, meanwhile, to 3.41 percent from 3.48 percent in the past week.
Indianapolis Star (05/27/11)
Discussion: No Comments »
