The key to implementing non-QM products

With the refi boom falling off and the margin compression happening to lenders nationwide, lenders are looking at non-QM to help fill in those gaps. Learn how to implement non-QM products here!

RealTrends 2021 Team Profitability Study

Brokerage firms have often speculated about how well teams perform from a profit and loss point of view, as well as how productive they are. In this research study, RealTrends answers these two big questions.

Proven Strategies for Accelerating eMortgage Adoption with Freddie Mac and Better

This webinar will cover how the industry is working to overcome challenges lenders experience in adopting eClosings. You’ll hear from industry leaders at Snapdocs, Freddie Mac and Better Mortgage. Register now!

Logan Mohtashami on existing home sales, mortgage rates

Today’s HousingWire Daily begins the Rundown miniseries where HousingWire’s Editor-in-Chief Sarah Wheeler and Lead Analyst Logan Mohtashami will talking about housing and economics every Monday.

Mortgage

Mortgage rates inch up slightly from 3-year low

This week's rate remains 90 basis points below the same week last year

The average U.S. fixed rate for a 30-year mortgage inched up to 3.47% this week, reversing course from last week’s 3-year low of 3.45%.

Although this week’s rate is just two basis points above the previous week’s rate, it is still 90 basis points below the 4.37% of the same week last year, according to Freddie Mac.

Sam Khater, Freddie Mac’s chief economist, said mortgage rates continue to hover near historic lows, which is providing a boost to housing and mortgage demand.

“With mortgage rates hovering near a five-decade low, refinance application activity is once again surging, rising to the highest level in seven years,” said Khater. “This surge coupled with strong purchase activity means that total mortgage demand remains robust, reflective of a solid economic backdrop and a very low mortgage rate environment.”

According to the survey, the 15-year FRM averaged 2.97% this week, holding steady from last week’s rate. This time last year, the 15-year FRM came in at 3.81%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.28% this week, sliding from last week’s rate of 3.32%. Last year, the 5-year ARM averaged 3.88%.

The image below highlights this week’s changes:

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please