Closing Complex Loans Faster With a Digitized Client Workflow

Join us for a discussion on changes in market demographics, suppliers and how focusing on customer experience and a few simple steps during the mortgage loan process can close deals 3x faster.

Brokers, Here’s Everything You Need to Know About Rocket Pro TPO

Want to stay up to date with the latest on what Rocket Pro TPO is offering its broker partners? Check out our TPO hub for updates and more.

Home appraisal’s ugly history and uncertain future

This is Part I of a deep dive into the home appraisal industry. Today we explore the origins of the appraisal industry and its current lack of diversity.

Loan quality lessons learned from 2020

HousingWire recently spoke with Trevor Gauthier, CEO of ACES Quality Management, about the effects of 2020 on loan quality and what lenders should expect regarding loan quality and risk management this year.

Mortgage

Mortgage rates drop in time for spring homebuying

Freddie Mac: Rates ease a bit

As the market heads into the spring homebuying season, mortgage rates moved down slightly, according to the latest Freddie Mac Primary Mortgage Market Survey.

The 30-year, fixed-rate mortgage averaged 4.34% for the week ended April 10, down from 4.41% last week, and significantly up from 3.43% a year prior.

The 15-year, FRM dropped to 3.38% from 3.47%, and is up from 2.65% in 2013.

Meanwhile, the 5-year Treasury-indexed hybrid adjustable-rate mortgage came in at 3.09 this week, a decline from 3.12% a week ago, but up from 2.62% last year.

The 1-year Treasury-indexed ARM averaged 2.41% for the week, falling from 2.45% last week and 2.62% a year prior.

“Mortgage rates eased a bit following the decline in 10-year Treasury yields. Also, the economy added 192,000 jobs in March, which was below the market consensus forecast but followed an upward revision of 22,000 jobs in February. Meanwhile, the unemployment rate held steady at 6.7 percent,” said Frank Nothaft, vice president and chief economist with Freddie Mac.

Bankrate also reported that mortgage rates erased the increases seen over the past two weeks, as the 30-year, FRM dipped to 4.47% from 4.54% last week.

In addition, the 15-year, FRM decreased to 3.52%, compared to 3.58% a week ago, while the 5/1 ARM remained unchanged at 3.34%.

"Any time there is stock market volatility and investors get nervous, that tends to be good news for mortgage rates. As investors gravitate to bonds of various types, including those backed by mortgages, it helps bring the rates that are quoted to mortgage borrowers lower. Mortgage rates are closely related to yields on long-term government bonds,” Bankrate said. 

Most Popular Articles

The housing market outsmarted the foreclosure crisis

This isn’t 2008. A bevy of loss mitigation waterfalls, forbearance safety nets and an abundance of equity gave Americans a fighting chance when the foreclosure crisis finally sunsets. HW+ Premium Content

Jun 18, 2021 By

Latest Articles

Refinance’s reign continued to wane in May

Though the number of high-quality refi candidates grew from 12 to over 14 million from March through May — a 15% increase — actual refinance rate locks dropped by 27% over the same period, according to recent data from Black Knight’s Originations Market Monitor.

Jun 21, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please