Frank Nothaft

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Mortgage rates dip below 5 percent again

The 30-year fixed-rate mortgage (FRM) averaged 4.97 percent this week, down from last week’s 5.01 percent and 5.16 percent last year at this time, Freddie Mac reported today.

The 15-year FRM slipped to 4.34 percent from 4.40 percent the previous week and 4.81 a year ago.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.19 percent in comparison with 4.27 percent a week ago and 5.23 percent one year earlier.

As for the one-year Treasury-indexed ARM, it went up to 4.33 percent from 4.22 percent last week. But it was 4.94 percent last year.  Commented Chief Economist Frank Nothaft:

“In mid-June of last year. . . 30-year fixed-mortgage rates topped nearly 5.6 percent. Currently, the monthly payments would be almost $77 per month lower on a $200,000 loan balance.”

To keep track of everything important happening in the mortgage business, housing markets, celebrity sales and purchases, and a variety of other topics, have a look at the free e-newsletter that I write every two weeks.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
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Mortgage rates stay low, but borrowers are scarce

The 30-year fixed-rate mortgage (FRM) averaged 4.98 percent this week, barely down from last week’s 4.99 percent, according to Freddie Mac.  Last year at this time, it was 5.10 percent.

Yet the Mortgage Bankers Association (MBA) said in its latest report that loan application volume fell to 10.9 percent on a seasonally adjusted basis for the week ending Jan. 22.  Unadjusted, the change was 10.1 percent.  Compared with the same week a year ago, there was 19.8 percent less activity.  Continue reading →

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Fixed mortgage rates edge down, ARMs mixed

Freddie Mac reports that the 30-year fixed-rate mortgage (FRM) averaged 5.06 percent this week, down from last week’s 5.09 percent.  Last year at this time, it was averaged 4.96 percent. Continue reading →

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Mortgage rates this week nudge 5 percent again

The 30-year fixed-rate mortgage (FRM) averaged 4.94 percent for the week, according to Freddie Mac.  That percentage was up from last week’s 4.81 percent but still below 5.19 percent last year at this time.

The 15-year FRM this week rose to 4.38 percent in comparison with 4.32 percent the previous week and 4.92 percent a year ago.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.37 percent versus 4.26 percent last week and 5.60 percent last year.

As for the one-year Treasury-indexed ARM, the average rate was 4.34 percent this week.  Last week it was 4.24 percent and last year, 4.94 percent.  Observed Freddie Mac Chief Economist Frank Nothaft:

“Mortgage rates followed bond yields higher once again this week amid signs of an improving economy.  On the consumer side, retail sales jumped 1.3 percent in November and consumer sentiment, as measured by the University of Michigan, rose above the market consensus forecast to the highest reading since September.  Industrial production also showed large gains in November.

“Interest rates on 30-year fixed-rate mortgages have remained below five percent over the past seven weeks and are contributing to a wave of refinance activity.  Roughly three out of four mortgage applications were for refinancing during the first two weeks of December, according the Mortgage Bankers Association.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
Web site

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Mortgage rates edge up this week

The 30-year fixed-rate mortgage (FRM) averaged 4.81 percent this week, up from last week’s 4.71 percent but down from 5.47 percent last year at this time, according to Freddie Mac. Continue reading →

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New statistics imply possible warming of market

Home prices rose for the second quarter this year, according to Freddie Mac, buttressing data suggesting that the nation’s housing market is warming up.

Its home-price-growth index rose 0.9 percent in the third quarter, following an upwardly revised 2 percent pickup in the second quarter.  The increases of the past two quarters made up for about two-fifths of the declines registered during the final quarter of 2008 and the first quarter of 2009.  U.S. home-sale prices were down 3.9 percent year-over-year. Continue reading →

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Mortgage rates drop to seventh-month low

The 30-year fixed-rate mortgage (FRM) averaged 4.78 percent this week, down from last week’s 4.83 percent, says Freddie Mac. Last year at this time, it was 5.97 percent. In April, it also reached 4.78 percent.

The 15-year FRM this week averaged 4.29 percent in comparison with 4.32 percent last week and 5.74 percent last year. The 15-year FRM has never been this low since Freddie Mac started tracking it in 1991.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) dipped to 4.18 percent from 4.25 percent. A year ago, it averaged 5.86 percent and hasn’t been so low since Freddie Mac started tracking it in 2005.

The one-year Treasury-indexed ARM was unchanged from the previous week at 4.35 percent but below the 5.18 percent rate one year earlier. The one-year ARM has not been so low since the week ending July 7, 2005, when it averaged 4.33 percent.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
Web site

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Mortgage rates drop, but loan applications plunge

Freddie Mac reported yesterday that the 30-year fixed-rate mortgage (FRM) fell to a five-week low this week, 4.91 percent, down from 4.98 percent last week.  Last year at this time, it was 6.14 percent.

The 15-year FRM this week averaged 4.36 percent versus the prior weeks’ 4.40 percent and last year’s 5.81 percent.

Fixed-Rate Mortgages
30-Year Fees& Points 15-Year Fees& Points
US 4.91 0.7 4.36 0.6
Northeast 4.92 0.7 4.37 0.6
Southeast 4.92 0.6 4.35 0.6
N. Central 4.96 0.6 4.38 0.6
Southwest 4.90 0.5 4.37 0.5
West 4.88 0.8 4.35 0.7

Meantime, the Mortgage Bankers Association says refinancings pushed up loan applications for the week ending Nov. 6 by 3.2 percent on a seasonally adjusted basis from one week earlier, but purchase volume fell by 11.7 percent to a nine-year low.  On an unadjusted basis, total activity increased 2.8 percent compared with the previous week. Continue reading →

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With mortgage rates almost flat, activity drops

Freddie Mac says the 30-year fixed-rate mortgage (FRM) averaged 5.03 percent for the week, up from last week’s 5.00 percent but way below 6.46 percent last year at this time. dollar-signs-money-clip-art-thumb2184272

And the Mortgage Bankers Association’s latest report is that loan application volume for the week ending Oct. 23 dropped 12.3 percent on a seasonally adjusted basis from one week earlier.   On an unadjusted basis, the decrease was 2.8 percent compared with the previous week, which included the Columbus Day holiday. Continue reading →

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Rates are heading for a 38-year record

Freddie Mac says the 30-year fixed-rate mortgage (FRM) averaged 5.04 percent this week, down from last week’s 5.07 percent.  Last year at this time, it was 5.78 percent.  The last time the 30-year FRM was lower was the week ending May 28, 2009, when it averaged 4.91 percent.

The 15-year this week slipped to 4.47 percent from 4.50 percent. the lowest it has been since Freddie Mac started tracking the 15-year FRM in 1991.  A year ago, it averaged 5.35 percent. This is

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was unchanged at 4.51 percent, but it was 5.67 percent last year.

The one-year Treasury-indexed ARM averaged 4.58 percent this week, down from last week’s 4.64 percent and 5.03 percent in 2008.

Said Frank Nothaft, Freddie Mac vice president and chief economist:

“Interest rates for fixed-rate mortgages eased for the third consecutive week and remained at 3-month lows.  Interest rates for 30-year fixed-rate mortgages have averaged just above 5 percent through mid-September, which is roughly a percentage point below last year’s average and suggests that 2009 may reach a record annual low since the survey began in 1971.

“Low mortgage rates are aiding new home construction. Housing starts for single family homes have increased consecutively over the five past months ending in July, although starts eased slightly in August. Moreover, homebuilder confidence improved for the third straight month in September, with all four regions showing positive gains, according the National Association of Home Builder’s Housing Market Index.”

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
http://www.ServiceYouCanTrust.com