Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

How to increase minority homeownership?

Today’s HousingWire Daily features a roundtable discussion from HousingWire’s Lunch & Learn series that looks at “Unpacking the lender’s vital role in increasing minority homeownership.”

Mortgage

Mortgage rates fall to 6-month low

30-year fixed rate mortgage down to 4.2%

Freddie Mac's mortgage survey shows average fixed mortgage rates eased slightly for the third consecutive week, falling to a six-month low.

“Mortgage rates were little changed amid a week of light economic reports. These lower than expected rates are welcome news with the spring home-buying season underway and may even provide those who haven’t already refinanced possibly a reason to take another look,” said Frank Nothaft, vice president and chief economist at Freddie Mac. “Of the few releases, advanced retail sales rose 0.1% in April, but below the market forecast consensus of a 0.4% increase. Also, the Producer Price Index for final demand rose 0.6% in April which followed a 0.5% boost from the prior month.”

The 30-year fixed-rate mortgage averaged 4.2% with an average 0.6 point for the week ending May 15, 2014, down from last week when it averaged 4.21%. A year ago at this time, the 30-year FRM averaged 3.51%. 

The 15-year FRM this week averaged 3.29% with an average 0.6 point, down from last week when it averaged 3.32%. A year ago at this time, the 15-year FRM averaged 2.69%. 

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.01% this week with an average 0.4 point, down from last week when it averaged 3.05%. A year ago, the 5-year ARM averaged 2.62%.

This week the 1-year Treasury-indexed ARM averaged 2.43% with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.55%. 

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