Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

Mortgage

Freddie Mac: Mortgage rates hit new high for 2015

Strong housing reports drive rate increase

Average fixed mortgage rates are moving higher amid positive housing data and pushing fixed mortgage rates to their highest level of the year, according to Freddie Mac.

The 30-year fixed-rate mortgage averaged 3.87% with an average 0.6 point for the week ending May 28, 2015, up from last week when it averaged 3.84%. A year ago at this time, the 30-year FRM averaged 4.12%. 

“Mortgage rates rose to the highest level in 2015 following positive housing market data. New home sales surged 6.8% to an annual pace of 517,000 units in April,” said Len Kiefer, deputy chief economist at Freddie Mac.

“Although existing home sales slipped 3.3% to a seasonally-adjusted pace of 5.04 million units, sales are up 6.1% on a year-over-year basis. The S&P/Case-Shiller 20-city home price index also posted a solid gain of 5% over the 12-months ending in March 2015,” he said.

The 15-year FRM this week averaged 3.11% with an average 0.5 point, up from last week when it averaged 3.05%. A year ago at this time, the 15-year FRM averaged 3.21%. 

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.90% this week with an average 0.5 point, up from last week when it averaged 2.88%. A year ago, the 5-year ARM averaged 2.96%.

The 1-year Treasury-indexed ARM averaged 2.50% this week with an average 0.3 point, down from last week when it averaged 2.51precent. At this time last year, the 1-year ARM averaged 2.41%.  

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3d rendering of a row of luxury townhouses along a street

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