The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

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.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

Mortgage

Freddie Mac: Trade war triggers mortgage rate volatility

This week, the 30-year fixed-rate mortgage averaged 3.75%

This week, the average U.S. fixed rate for a 30-year mortgage rose to 3.75%. That’s 6 basis points above last week’s 3.69% but still more than a percentage point below the 4.86% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey.

The U.S.-China trade war is triggering interest rate volatility, said Sam Khater, Freddie Mac’s chief economist. Even with the uptick, demand from would-be borrowers remains high, he said.

“The outlook for a favorable resolution to the trade dispute between the U.S. and China is still unclear, introducing some volatility into financial markets and the benchmark 10- year Treasury yield,” said Sam Khater, Freddie Mac’s chief economist. “Mortgage rates are following suit at near historic lows, while mortgage applications to purchase a home remain higher year over year.”

The 15-year FRM averaged 3.18% this week, inching forward from last week’s 3.15%. This time last year, the 15-year FRM came in at 4.29%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.4%, increasing from last week’s rate. of 3.15% Nevertheless, the percentage is still below 2018’s rate of 4.14%.

The image below highlights this week’s changes:

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