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

Mortgage rates return to 3-year low

This week, the 30-year fixed-rate mortgage averaged 3.45%

The average U.S. fixed rate for a 30-year mortgage fell to 3.45% this week, matching the three-year low set three weeks ago.

The rate declined as global money managers spooked by the coronavirus named Covid-19 piled into the U.S. bond markets, boosting competition for securities back by home loans.

Although the rate is only four basis points below the previous week’s level, it’s almost a percentage point below the 4.35% of the same week a year ago, according to Freddie Mac.

“Given the recent volatility of the ten-year Treasury yield, it’s not surprising that mortgage rates again have dropped,” said Sam Khater, Freddie Mac’s Chief Economist. “These low rates combined with high consumer confidence continue to drive home sales upward, a trend that is likely to endure as we enter spring.”

According to the survey, the 15-year FRM averaged 2.95% this week, down from last week’s rate of 2.99%. This time last year, the 15-year FRM came in at 3.77%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.2% this week, down from last week’s rate of 3.25%. Last year, the 5-year ARM averaged 3.84%.

The image below highlights this week’s changes:

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