Understanding Today’s Connected Borrower

Sign up for this webinar to learn how to transform the borrower journey from transaction to relationship and gain a significant lift in production in today’s digital lending environment.

RealTrending: eXp’s Glenn Sanford reveals what’s next for company

CEO of eXp World holdings addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

Should lenders look to non-QM when the refi boom slows?

Angel Oak shared with HW how non-QM lending could be an effective way for lenders to replace lost business in the event of a refi boom slowdown.

Mortgage

Freddie Mac: Mortgage rates hit highest point this year

Up year-over-year for second week in a row

Mortgage rates increased yet again to their highest rate this year, causing many homeowners to hold off on refinancing.

“With mortgage rates at the highest we’ve seen this year, borrowers are now backpedaling on refinance opportunities,” Freddie Mac Chief Economist Sean Becketti said. “The latest Weekly Applications Survey results from the Mortgage Bankers Association show refinance activity down 16% week over week.”

Click to Enlarge

12-1-16

(Source: Freddie Mac)

The 30-year fixed-rate mortgage increased to 4.08% for the week ending Dec 1, 2016. This is up from last week’s 4.03% and up from last year's 3.93%.

Similarly, the 15-year FRM increased to 3.34% this week, up from 3.25% last week and from 3.16% last year.

The five-year Treasury-indexed hybrid adjustable-rate mortgage increased to 3.15%, up from both last week’s 3.12% and last year’s 2.99%.

“The 10-year Treasury yield remained flat despite an upward revision to third quarter GDP,” Becketti said. “The 30-year mortgage rate rose five basis points to 4.08%, rising a total of 51 basis points in three short weeks.”

Most Popular Articles

Here it is: First-time homebuyer credit legislation

The newest draft of President Biden’s first-time homebuyer tax credit has several significant restrictions. And it’s not a tax credit.

Apr 15, 2021 By

Latest Articles

2 million refi candidates eligible after mortgage rate drop

Two million borrowers could save an average of nearly $300 a month on a refinance thanks to last week’s 10-basis-point drop in mortgage rates.

Apr 16, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please