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: 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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