What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Mortgage

Freddie Mac: Mortgage rates slightly increase, still well below 4%

FOMC announcement too late to impact mortgage rates

While the market reacted to the Federal Open Market Committee’s announcement yesterday, the news came too late to impact this week’s mortgage rates.

According Thursday’s Primary Mortgage Market Survey from Freddie Mac, average fixed mortgage rates slightly increased but are still well below 4% for now.

“Treasury yields marched higher this week.  As a result, the 30-year mortgage rate jumped 7 basis points to 3.66%.  The Federal Reserve’s decision to leave the Federal funds rate unchanged triggered a 9 basis point drop in the 10-year Treasury yield on Wednesday, however the drop occurred too late to impact this week’s survey,” said Sean Becketti, chief economist with Freddie Mac.

This chart to shows mortgage rates over the past year.

Click chart to enlarge

freddie

(Source: Freddie Mac)

The 30-year fixed-rate mortgage increased to 3.66% for the week ending April 28, up from last week when it averaged 3.59%. A year ago at this time, the 30-year FRM averaged 3.68%. 

Similarly, the 15-year FRM this week came in at 2.89 %, up from last week when it averaged 2.85%. This time in 2015, the 15-year FRM averaged 2.94%. 

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.86% this week, growing from last week’s 2.81%. A year ago, the 5-year ARM averaged 2.85%.

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