Archive for the 'Interest Rate News' Category

Mortgage Rates See First Increase in Four Weeks

After falling for a whole month, long-term mortgage interest rates showed some growth again in the latest week, according to data from mortgage backer Freddie Mac. The average rate on a 30-year conventional fixed rate mortgage rose to 3.94 percent, excluding fees, during the week ended August 13, 2015, up from 3.91 percent the week before. One year earlier the average rate was higher still at 4.12 percent. The rise in rates was a product of on-target jobs reports, according to Freddie Mac chief Read more [...]

Mortgage Rates Drop to 7-Week Low

After a two-month rest above 4 percent, long-term mortgage rates have dipped back into more familiar territory this week, according to mortgage backer Freddie Mac, being pulled down by overseas stock troubles. The average rate on a 30-year fixed rate conventional mortgage declined to 3.98 percent, excluding fees during the week ended July 30, 2015, down from 4.04 percent the week before. The 30-year rate is also down from one year earlier when it averaged 4.12 percent. "Monday's 8 percent decline Read more [...]

Mortgage Rates Break New 2015 Record High

Confidence in Greece’s EU debt deal and promises from the Federal Reserve Chairwoman to raise rate this year led investors to ease off of Treasury bonds, pushing mortgage interest rates to yearly highs, according to mortgage guarantor Freddie Mac Thursday. The average rate on a 30-year fixed rate conventional mortgage jumped to 4.09 percent, excluding fees, in the latest week, from 4.04 percent the previous week and the highest level of 2015 to date. The rate is still slightly below last year Read more [...]

Mortgage Rates Top 9-Month High

As the unemployment rate has declined and the housing market has shown solid growth, long-term mortgage interest rates have made a steady climb, reaching an almost 9-month high in the latest week, according to data from mortgage guarantor Freddie Mac. In its Primary Mortgage Market Survey, Freddie Mac found that the average rate on a 30-year fixed rate mortgage (FRM) jumped to 4.08 percent, excluding fees, during the week ended July2, 2015, up from 4.02 percent week before. That is the highest Read more [...]

Rising Home Prices Means Fewer Mortgage Modifications

A few years ago ‘mortgage modification’ was a word on the minds of millions of homeowners. Today in an improving housing market, the need for such modifications to save borrowers in danger of foreclosure is shrinking. But according to the Federal Housing Finance Agency  , those who do still need help are finding fewer options available. There were 13,200 permanent loan modifications made through Fannie Mae and Freddie Mac in February of this year, down 3 percent from the month before. Of Read more [...]

Mortgage Rates Spike To 8-Month High

Long-term mortgage interest rates soared to new 2015 all-time highs in the latest week, according to mortgage guarantor Freddie Mac , as investors took on more risk in the wake of positive employment data. The average rate on a 30-year fixed rate mortgage (FRM) jumped to 4.04 percent, excluding fees, during the week ended June 11, 2015, up from 3.87 percent the week before. This is the first time the 30-year rate has averaged over 4 percent in over eight months, since the week of November 13, Read more [...]

Mortgage Rates Hit 2015 High

Upbeat data from the housing market helped push long-term mortgage interest rates to the highest levels of 2015 this week, according to mortgage backer Freddie Mac. The average commitment rate on a 30-year fixed-rate conventional mortgage rose to 3.87 percent, excluding fees, during the week ended May 28, 2015, up from 3.84 percent the week before. The last time rates reached this high was the week of December 31, 2014. Still, by historical standards mortgage rates are still near their all-time Read more [...]

Existing Home Sales Soften in Response to Tight Inventory

Sales of existing U.S. home sales fell 3.3 percent in April, according to the National Association of Realtors, a product of tight inventory pushing home prices up, pricing many buyers out of the market. "April's setback is the result of lagging supply relative to demand and the upward pressure it's putting on prices," said NAR chief economist Lawrence Yun. "However, the overall data and feedback we're hearing from Realtors® continues to point to elevated levels of buying interest compared to Read more [...]

Mortgage Rates Jump in Latest Week

Long-term mortgage interest rates skipped higher this week amid foreign bond market fluctuations and mixed economic reports at home, according to mortgage backer Freddie Mac. The average rate on a 30-year fixed rate mortgage (FRM) jumped to 3.80 percent, excluding fees, during the week ended May 7, 2015, up from 3.68 percent the previous week. Compared with last year, the rate is still down from 4.21 percent. The 15-year FRM rate also spiked, increasing to 3.02 percent, up from 2.94 percent Read more [...]

Low Rates, Jobs Market Push March Home Sales Higher

Sales of existing U.S. homes in March reached their highest annual pace since September 2013, buoyed by continued low mortgate interest rates and a firming employment scene, according to the National Association of Realtors. Total existing-home sales rose 6.1 percent to a seasonally adjusted annual rate of 5.19 million in March, up from 4.89 million the month before. Compared with a year ago, sales are up 10.4 percent with year-over-year sales having increased now for the past six straight months. "After Read more [...]