Items Tagged with 'mortgage rates'

ARTICLES

  • Freddie Mac: Mortgage rates tick up from last week’s 3-year low

    This week, the 30-year fixed-rate mortgage averaged 3.56%
    The average U.S. rate for a 30-year fixed mortgage this week is 3.56%, rising from the three-year low of 3.49% last week, according to the Freddie Mac Primary Mortgage Market Survey. That's more than a percentage point below the year-ago rate of 4.6%, Freddie Mac said.
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  • Fannie Mae: Declining mortgage rates propel nation’s home buying outlook to new high

    Expert says America’s favorable rate environment will continue to support refinance activity
    In August, American housing confidence increased slightly as more consumers expressed optimism regarding the nation’s falling mortgage rates, according to Fannie Mae’s Home Purchase Sentiment Index. According to the GSE’s report, sentiment ticked up by 0.1 point to 93.8 in August. Not only is this up 5.8 points from last year’s rate, but it also marks a new survey high.
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  • Cheap rates create record high in “refi-eligible” population

    11.7 million mortgage holders are eligible for refinancing, Black Knight says
    More than half of all homeowners with a 30-year mortgage are now paying interest that’s 0.75% or higher than current rates, the largest share in six years, according to Black Knight. Of those, 11.7 million are “refi-eligible,” meaning they also meet broad-based underwriting criteria such as credit scores at 720 or above and enough equity to satisfy most lenders, Black Knight said.
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  • NAR’s Yun: Mortgage rates may tumble to record 3.3% by 2019’s end

    Slowing economy adds to chances of a Fed rate cut, Yun said
    Fixed mortgage rates could fall to 3.3% by the end of the year as the nation’s economy slows, according to Lawrence Yun, chief economist of the National Association of Realtors. That would put the rate just a smidge below the 3.31% seen in November of 2012 – the lowest average for a 30-year fixed mortgage in Freddie Mac data going back to 1971.
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  • U.S. employment weakens in August as the economy adds only 130,000 jobs

    Slower job growth likely to encourage the Fed to cut its rate
    The U.S. economy added 130,000 jobs in August, after July’s downwardly revised 159,000 advance, according to the Bureau of Labor Statistics. That bolsters the case for a rate cut at the Federal Reserve's meeting later this month. Realtor.com Senior Economist George Ratiu said new jobs numbers signal that companies remain cautiously optimistic about this year’s economic outlook and are taking a more measured approach to hiring.
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  • Freddie Mac: Mortgage rates drop to another 3-year low

    This week, the 30-year fixed-rate mortgage averaged 3.49%
    Once again, the average U.S. rate for a 30-year fixed mortgage fell to another three-year low this week, according to the latest Freddie Mac Primary Mortgage Market Survey. According to the company’s data, the 30-year fixed-rate mortgage averaged 3.49% for the week ending Sept. 5 2019, down from last week’s rate of 3.58%. Freddie Mac Chief Economist Sam Khater said mortgage rates continued the summer swoon due to weaker economic data.
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  • Fannie Mae's Doug Duncan: Lack of inventory is holding housing market back big-time

    Duncan shares thoughts on how to address inventory shortage
    Low mortgage rates have spurred an increase in mortgage applications (although it should be noted that applications have fallen in the last two weeks) and refinances, but despite these gains, America’s home sales remain below historical averages. So, what’s the deal? Well, a lack of housing inventory is one big factor. In an exclusive interview for the season finale of the Housing News podcast, Fannie Mae Chief Economist Doug Duncan explains what's behind the nation's inventory problem.
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  • CoreLogic: Home-price gains will pick up speed

    U.S. annualized home prices probably will jump 5.4% by July 2020, according to forecast
    Home-price gains will pick up speed in the coming year, with a 5.4% jump in the 12 months following July 2019, according to a forecast from CoreLogic. That would be a faster pace than the 3.6% annualized increase seen this July, CoreLogic said. Low mortgage rates coupled with a scarcity of inventory are driving the increase, the data firm said.
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  • Freddie Mac: Mortgage rates tick up slightly to 3.58%

    The 30-year fixed-rate mortgage is nearly one percentage point lower than a year ago
    Although the average U.S. rate for a 30-year fixed mortgage slightly rose this week, the rate still managed to hover near last week’s 3-year low, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the nation's low mortgage rates and strong labor market are likely to support housing market activity in the months to come.
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  • Homeowner "tappable equity" reaches an all-time high of $6.3 trillion

    Americans are sitting on a boatload of cash
    Tappable equity reached an all-time high of $6.3 trillion in the second quarter as home-price gains made real estate more valuable. The amount of equity homeowners could borrow against before hitting the 80% loan-to-value limit imposed by most lenders rose by $335 billion during the three-month period, according to Black Knight. The new record high is 26% above the 2006 peak in the midst of the housing bubble.
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