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  • Chronos Solutions acquires UPF Services

    Chronos Solutions announced its latest business move, finalizing its acquisition of UPF Services. Matt Slonaker, executive vice president of sales and marketing for Chronos Solutions, first alluded to the acquisition in an interview with HousingWire back in July. Now only a few weeks later, Slonaker and Andrew Gladston, senior vice president of corporate development at Chronos Solutions, revisited with HousingWire to give the full details of the acquisition. Click the headline to read what this means for their mortgage business.

Zillow: 30-year FRMs hit record low at 4.16%

The 30-year, fixed-mortgage rate decreased from a week earlier, setting a new record low at 4.16%, according to the Zillow Mortgage Marketplace weekly update. The national average ticked up slightly throughout September after 11 consecutive weeks of decline. Zillow said the current 15-year, fixed average rate is 3.67% and the rate for a 5-1 adjustable rate mortgage is 3.01%. That type of mortgage maintains a steady rate for five years and then is adjusted annually thereafter. Regionally, 30-year rates vary, but the majority of states witnessed a deflation. Rates in Florida fell to 4.09% from 4.23% the previous week, New York's average rate was 4.04% last week, down from 4.17%, California's rate decreased to 4.18% from 4.21%, and Texas saw its average rate disintegrate to 4.15% from 4.22%. Meanwhile Pennsylvania's current rate of 4.17% is up from 4.16% last week. Massachusetts' average rate for a 30-year fixed mortgage grew to 4.22% from 4.19% at Sept. 27. Washington's 30-year FRM remained constant at 4.16%. Zillow bases its averages on real-time mortgage quotes from lenders registered with the company. The national average comes from thousands of daily quotes by anonymous borrowers through the Seattle-based company's website. Write to Christine Ricciardi.

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