Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Mortgage

Freddie Mac: Mortgage rates fall to year’s lows

Rates continue downward trend

The 30-year, fixed rate mortgage dropped to new yearly lows,  averaging 4.10% for the week ended Aug. 21,  according to Freddie Mac’s latest Primary Mortgage Market Survey.

This is down from the year's previous record low of 4.12% last week and significantly down from 4.58% last year.

In addition, the 15-year, FRM fell to 3.23% from 3.24% a week prior. A year ago, the 15-year, FRM averaged 3.60%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage came in at 2.95%, slightly down from 2.97% a week ago and 3.21% in 2013.

The 1-year Treasury-indexed ARM increased from 2.36% a week ago to 2.38%. Last year this time, the 1-year ARM came in at 2.67%.

“Mortgage rates were down slightly this week, following the decline in 10-year Treasury yields.  Meanwhile, housing starts in July jumped 15.7% to 1.093 million units after falling 4% a month earlier. Also, July’s consumer prices increased at a 0.1% seasonally adjusted pace, the slowest in five months,” Frank Nothaft, vice president and chief economist with Freddie Mac, said.

Meanwhile, Bankrate also reported mortgages ratings falling for a second consecutive week, hitting a 14-month low.

The 30-yr, FRM decreased to 4.24%, down from 4.27% last week, while the 15-yr, FRM dropped to 3.37%, down from 3.39% the prior week.

Furthermore, the 5/1 ARM declined to 3.28%, compared to 3.324% a week ago.

“Muted inflation readings and ongoing tensions in hotspots around the globe helped fuel demand for bonds, pushing mortgage rates lower. Mortgage rates are closely related to yields on long-term government bonds. Any time there is reason for nervousness among investors, their movement into the perceived safe haven of bonds is good news for mortgage rates,” Bankrate said. 

Most Popular Articles

FHFA: Government to back mortgages up to $970,800 in 2022

The FHFA today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. In high-cost areas, the new ceiling loan limit will be $970,800.

Nov 30, 2021 By

Latest Articles

What Omicron, bond market and jobs mean for housing

We often have two to three job reports per year that miss estimates badly. However, remember that we have over 10 million job openings.

Dec 03, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please