A look at Biden’s first week in office

This episode reviews last week’s inauguration of President Joe Biden, examining which housing issues the new administration has already taken action on.

Biden’s executive order will extend foreclosure moratorium

President Biden revealed his plan to sign 17 executive orders his first day in office, including am extension of the eviction and foreclosure moratorium to at least March 31.

If consumers aren’t holding lenders back, then who or what is?

The challenge for lenders and investors is understanding how to meet borrowers where they are without layering on risk or getting bogged down in third-party intermediation.

HomeBridge’s Brian White on diversity at a practical level

HomeBridge's Brian “Woody” White discusses ways to increase diversity within the housing finance industry.

Mortgage

Freddie Mac: Mortgage rates reach fourth highest level of 2018

30-year fixed-rate mortgage in second consecutive week of 4.6%

Mortgage rates climbed higher this week, reaching its fourth highest level of 2018, according to Freddie Mac’s latest Primary Mortgage Market survey.

“The higher rate environment, coupled with the ongoing lack of affordable inventory, has led to a drag on existing-home sales in the last few months,” Freddie Mac Chief Economist Sam Khater said. “Yesterday, the Federal Reserve passed on raising short-term rates, but with the embers of a strong economy potentially stoking higher inflation, borrowing costs will likely modestly rise in coming months.”

“Even with home price growth easing slightly in some markets, mortgage rates hovering near a seven-year high will certainly create affordability challenges for some prospective buyers looking to close.”

According to the most recent Case-Shiller report, home prices are reported to be rising at two to three times the rate of inflation.

Freddie Mac - August 2nd

(Source: Freddie Mac)

According to the report, the 30-year fixed-rate mortgage averaged 4.60% for the week ending August 2, 2018, up from 4.54% last week, and up from 3.93% last year.

The 15-year FRM inched forward to an average 4.08 this week, up from last week when it averaged 4.2%. This time last year, the 15-year FRM was 3.18%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage inched forward this week at 3.93%, which is still up from this time last year when it was 3.15%. 

Most Popular Articles

Biden’s executive order will extend foreclosure moratorium

President Biden plans to sign 17 executive orders his first day in office, including an extension of the eviction and foreclosure moratorium.

Jan 20, 2021 By

Latest Articles

Biden calls on HUD to address racial equity

President Joe Biden’s Tuesday orders include a memorandum that directs HUD to both mitigate racial bias in housing and advance fair housing laws.

Jan 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please