Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

How to increase minority homeownership?

Today’s HousingWire Daily features a roundtable discussion from HousingWire’s Lunch & Learn series that looks at “Unpacking the lender’s vital role in increasing minority homeownership.”

Mortgage

Freddie Mac: Mortgage rates fall after three consecutive weeks of climbing

This week, the 30-year fixed-rate mortgage averaged 3.78%

This week, the average U.S. fixed rate for a 30-year mortgage rose to 3.69%. That’s 9 basis points below last week’s 3.78% and still more than a percentage point below the 4.94% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey.

“After a year-long slide, mortgage rates hit a cycle low in September 2019 and have risen in six out of the last nine weeks due to modestly better economic data and trade related optimism,” said Sam Khater, Freddie Mac’s chief economist. “The improvement in sentiment has been one of the main drivers behind the surge in equity prices and will provide a halo effect to consumer spending heading into the important holiday shopping season.”

The 15-year FRM averaged 3.13% this week, sliding from last week’s 3.19%. This time last year, the 15-year FRM came in at 4.33%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.39%, retreating from last week’s rate of 3.44%. The percentage remains significantly lower than its 2018 rate of 4.14%.

The image below highlights this week’s changes:

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FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

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3d rendering of a row of luxury townhouses along a street

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