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.

Rohit Chopra pleads the fifth on QM rule

Consumer Financial Protection Bureau Director Rohit Chopra, in his first report to Congress, answered for decisions made by his predecessor, and provided some indication of his priorities going forward.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Which core segments of brokerage make the most money

Today’s HousingWire Daily is a RealTrending crossover episode. It features Tracey Velt, editorial director at HW Media Company RealTrends, who interviews Chris Kelly and Christian Wallace.

Mortgage

Freddie Mac: Mortgage rates reverse course from last week’s uptick

This week, the 30-year fixed-rate mortgage averaged 3.66%

This week, the average U.S. fixed rate for a 30-year mortgage fell to 3.66%. That’s 9 basis points below last week’s 3.75% and more than a percentage point below the 4.81% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey.

“The housing market continues to steadily gain momentum with rising homebuyer demand and increased construction due to the strong job market, ebullient market sentiment and low mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. “Residential real estate accounts for one-sixth of the economy, and the improving real estate market will support economic growth heading into next year.”

The 15-year FRM averaged 3.15% this week, declining from last week’s 3.2%. This time last year, the 15-year FRM came in at 4.24%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.39%, retreating from last week’s rate of 3.44%. Last year, the 5-year ARM was much higher at 4.09%.

The image below highlights this week’s changes:

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