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  • Freddie Mac reports $354M net loss in first quarter

    Freddie Mac reported a $354 million net loss in the first quarter, significantly down from its $2.2 billion net income recorded in the fourth quarter of 2015. The news is a reminder of the GSE's net loss in the third quarter of 2015, which marked the first loss in four years. But despite the news, Freddie CEO Donald Layton remains positive on the results. Click the headline to find out why.

Lending

MBA mortgage applications up slightly

Mortgage applications increased 0.1% from one week earlier, according to data from the Mortgage Bankers Association.
 
The MBA refinance index decreased 0.7% from the previous week. Refis decreased to 72.6% of total applications from 73.4% the previous week.

The government share of purchase applications remained steady at 37%, a slight increase from a couple of weeks ago when the share was 36.4%. The government share of purchase applications over the last three weeks is at the lowest level since 2009.
 
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances below $418,000 slightly increased to 4.05% from 4.04%. Points increased to 0.44 from 0.4 for 80% loan-to-value mortgages. 

jgaffney@housingwire.com

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