An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

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 servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Mortgage

Freddie Mac: Rates drift below 4% again

Rates slightly down from last week

Mortgage rates ticked back down and fell below 4%, as rates continue to fluctuate around this level, Freddie Mac’s Primary Mortgage Market Survey said. 

The 30-year, fixed-rate mortgage averaged 3.99% for the week ended Nov. 20, down from last week’s 4.01%. Last year, the 30-year, FRM came in at 4.22%.

Meanwhile, the 15-year, FRM dipped to 3.17%, down from 3.20% a week ago and 3.27% a year ago.

The 5-year, Treasury-indexed hybrid adjustable-rate mortgage dropped from 3.02% a week prior to 3.01%. A year ago, the 5-year ARM averaged 2.95%.

The 1-year Treasury-indexed ARM increased to 2.44%, marginally up from 2.43%. In 2013, it averaged 2.61%.

“Fixed mortgage rates were slightly down as housing starts declined 2.8% in October below the upwardly revised September rate. However, building permits increased 4.8 percent in October after a 2.8% boost a month earlier. Lastly, industrial production slipped by 0.1% in October, below the market consensus forecast,” said Frank Nothaft, vice president and chief economist with Freddie Mac.

In addition, Bankrate reported the second consecutive week of rates decreasing.

The 30-year, FRM fell to 4.10%, compared to 4.13% a week ago.

The 15-year, FRM decreased 3.30%, down from 3.32%, while the 5/1 ARM dropped to 3.21%, down from 3.22% last week.  

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