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.

How real estate agents can increase profitability in 2021

As real estate professionals strategize on how to do business in this competitive, fast-paced market, they’ll discover the need for better tools to market their listings.

HousingWire'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.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Mortgage

Freddie Mac: U.S. economic optimism spurs growth in mortgage rates

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 4.94% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey.

The modest uptick in mortgage rates over the last two months reflects declining recession fears and a more sanguine outlook for the global economy, said Sam Khater, Freddie Mac’s Chief Economist.

“Due to the improved economic outlook, purchase mortgage applications rose 15% over the same week a year ago, the second-highest weekly increase in the last two years,” Khater said. “Given the important role residential real estate plays in the economy, the steady improvement of the housing market is a reassuring sign that the economy is on solid ground heading into next year.”

The 15-year FRM averaged 3.2% this week, rising from last week’s 3.13%. This time last year, the 15-year FRM came in at 4.36%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.44%, increasing from last week’s rate of 3.39%. In 2018, the 5-year ARM sat much higher at  4.14%.

The image below highlights this week’s changes:

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