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.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

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

Mortgage rates inch forward to 3.65%

Expert says mortgage rates are fueling homebuyer purchasing power

This week, the average U.S. fixed rate for a 30-year mortgage averaged 3.65%. While this percentage is slightly above the previous week’s average, it’s still 80 basis points below the 4.45% of the same week last year, according to the Freddie Mac Primary Mortgage Market Survey.

Mortgage rates inched up by one basis point this week with the 30-year fixed-rate mortgage averaging 3.65%,” said Sam Khater, Freddie Mac’s chief economist. “By all accounts, mortgage rates remain low and, along with a strong job market, are fueling the consumer-driven economy by boosting purchasing power, which will certainly support housing market activity in the coming months.”

Low mortgage rates boost the economy by cutting home financing costs, which puts more money in the wallets of consumers to put toward the purchases that account for about 70% of America’s GDP.

According to the survey, the 15-year FRM averaged 3.09% this week, inching forward from last week’s rate of 3.07%. This time last year, the 15-year FRM came in at 3.88%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.39% this week, rising from last week’s rate of 3.3%. Last year, the 5-year ARM averaged 3.87%.

The image below highlights this week’s changes:

Most Popular Articles

FHFA extends forbearance period to 18 months

In an effort to protect homeowners, the FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.

Feb 25, 2021 By

Latest Articles

How lenders can prepare for growing fraud threats

HousingWire recently spoke with Jeffrey Morelli, general manager at Truework, about what lenders can do to prepare for and overcome the growing threat of fraud and data inaccuracy.

Feb 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please