Ex-NFL star sentenced to five years in prison for mortgage fraud

Ex-NFL star sentenced to five years in prison for mortgage fraud

Irving Fryar and his mother convicted of conspiring to steal $1.2M

Experian hacked: 15 million people’s credit data stolen in breach

Credit reporting agency becomes latest victim of data breach

Here's what today's job creation implosion means for housing and mortgage finance

Jobs crater, labor participation rate near 40-year low and zero wage growth

30-year, fixed-rate mortgage hits new low

The 30-year, fixed-rate mortgage fell to 3.88% this past week, hitting a new low and marking its seventh consecutive week below 4%, Freddie Mac said Thursday. That compares to a 30-year FRM of 3.89% a week earlier and 4.74% last year. Meanwhile, the 15-year FRM hit 3.17%, up from 3.16% the previous week and down from 4.05% last year. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.82%, compared to 3.69% a year ago. The 1-year, Treasury-indexed ARM hit 2.74%, down from 2.76% last week and 3.25% last year. Mortgage rates for the most part were unchanged from the previous week due to mixed economic reports that show a level of uncertainty over consumer sentiment and the broader economy, according to Frank Nothaft, vice president and chief economist for Freddie Mac. Bankrate also reported the 30-year, FRM remained unchanged at 4.18%, while the 15-year, FRM ticked up from 3.38% last week to 3.39%. The 5/1 ARM also rose to 3.06% from 3.04% a week earlier. Write to Kerri Panchuk.

Recent Articles by Kerri Panchuk

Comments powered by Disqus