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

Did you miss out on HousingWire Annual? We have you covered! Join us virtually on October 25 for a chance to see hand picked sessions from our in-person HousingWire Annual in Frisco. Register now for FREE!

How brokers can help today’s unique borrower

The average borrower has drastically changed throughout the years. More borrowers are self-employed, work remotely and have multiple streams of income. Learn about the tools to assist any borrower quickly and effectively.

Experts on how AI makes a difference in the mortgage process

Today’s HousingWire Daily features a roundtable discussion on “Humans versus really smart machines” and what the right mix looks like to gain efficiencies in the mortgage loan manufacturing process.

Mortgage

Zillow: Mortgage rates drop to lowest level since 2013

Did someone say something about a Fed rate hike?

Despite some predictions that mortgage interest rates would rise in the aftermath of the Federal Open Market Committee’s December announcement of an increase to the federal funds rate for the first time since June 2006, the exact opposite has happened, with interest rates falling to a two-year low, according to a new report from Zillow.

Zillow’s latest report on the interest rates borrowers are quoted on its mortgage marketplace showed that during the last week, mortgage interest rates hit their lowest level since 2013.

According to Zillow’s report, mortgage rates for 30-year fixed mortgages fell in the week that ended Tuesday, Feb. 2, with current rate borrowers being quoted on Zillow at 3.5%.

That’s down 11 basis points from the previous week.

“Mortgage rates fell last week, touching their lowest levels since mid-2013 before edging slightly higher on Monday,” said Erin Lantz, vice president of mortgages at Zillow. “This week, markets will look toward Friday’s monthly jobs report and should move upward if the data exceeds expectations.”

According to Zillow’s report, the 30-year fixed mortgage rate fell throughout the week, reaching 3.47% on Sunday before rising back slightly to the current rate of 3.5%.

Additionally, the 15-year fixed mortgage rate was 2.72%, and for 5/1 ARMs, the rate was 2.73%.

Most Popular Articles

Fannie Mae: Mortgage rates and home prices will rise in ’22

Economists at Fannie Mae expect higher mortgage rates and home prices next year due to higher inflation, a tightening of monetary policy, and low home inventory

Oct 15, 2021 By

Latest Articles

Forbearance heading one direction: down

Forbearance declined across the board this week as government agencies and industry stakeholders chart a path out of forbearance and into loss-mitigation.

Oct 18, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please