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.

Conquering the Mortgage Lender’s Dilemmas

This webinar provides a roadmap for creating a sophisticated, digital-first cost improvement strategy to maximize profits by reducing high processing environments.

HW'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.

We need higher mortgage rates to cool the housing market

2020-2024 will have the best housing market demographics and the lowest mortgage rates ever recorded, which could accelerate real home prices too quickly.

Mortgage

Homebuyers, now might be the time to buy

Mortgage rates retreat to lowest level since early October

Mortgage rates declined this week, falling across the board, according to Freddie Mac’s latest Primary Mortgage Market Survey.

According to the survey, the 30-year fixed-rate mortgage dropped from 4.94% last week, averaging 4.81% for the week ending Nov. 21, 2018. However, this is still an increase from last year’s rate of 3.92%.

“The downward spiral in oil prices and a volatile equities market caused mortgage rates to decline 13 basis points to 4.81%, the largest weekly drop since January 2015,” Freddie Mac Chief Economist Sam Khater said. “Mortgage rates are the lowest since early October and the dip offers a window of opportunity for would be buyers that have been on the fence waiting for a drop in mortgage rates.”

Freddie Mac Mortgage Rates- Nov 21

(Click to enlarge)

The 15-year FRM averaged 4.24% this week, down from last week's 4.36%. This time last year, the 15-year FRM was 3.32%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage came in at 4.09% this week, retreating from 4.14% the week before. Notably, it also remains much higher than this time last year when it averaged 3.22%.

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