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?

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

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.


Freddie Mac: Mortgage rates stay below 4%

Turbulence overseas benefits U.S. economy

Mortgage rates managed to stay below the 4% threshold for another week, according to the latest Freddie Mac Primary Mortgage Market Survey.

Two weeks ago was the first time in five months that the 30-year mortgage rose above 4%, but it didn’t linger that high for long. Last week, the 30-year mortgage dropped back down for the start of 2016 as concerns about overseas economic developments dominated the financial markets.

This week brought similar news, according to Sean Becketti, chief economist with Freddie Mac.

“Long-term Treasury yields continue to drop, dragging mortgage rates down with them. Turbulence in overseas financial markets is generating a flight-to-quality which benefits U.S. Treasury securities,” said Becketti. “In addition, sagging oil prices are capping inflation expectations. The net effect on the 30-year mortgage rate was a 5 basis point drop to 3.92%.”

For the week ending Jan. 14, the 30-year fixed-rate mortgage averaged 3.92%, down from last week when it averaged 3.97%. However, this is higher than a year ago at this time when the 30-year FRM averaged 3.66%. 

The 15-year FRM this week dropped from 3.26% to 3.19%. A year ago at this time, the 15-year FRM averaged 2.98%. 

In addition, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.01%, down from last week when it averaged 3.09 percent. In 2015, the 5-year ARM averaged 2.90%.

Click to enlarge


(Source: Freddie Mac)

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