Fixed-rate mortgage

Mortgage Rates Hit a New Record Low the First Week of 2021

Retrieved on:

Thursday, January 7, 2021

Mortgage, Loans, Mortgage loan, Money, Finance, Fixed-rate mortgage, United States housing bubble, Economy, Second mortgage, Subprime mortgage crisis

A new year, a new record low mortgage rate, said Sam Khater, Freddie Macs Chief Economist.

Key Points:

A new year, a new record low mortgage rate, said Sam Khater, Freddie Macs Chief Economist.
Despite a full percentage point decline in rates over the past year, housing affordability has decreased because these low rates have been offset by rising home prices.
30-year fixed-rate mortgage averaged 2.65 percent with an average 0.7 point for the week ending January 7, 2021, down from last week when it averaged 2.67 percent.
15-year fixed-rate mortgage averaged 2.16 percent with an average 0.6 point, down slightly from last week when it averaged 2.17 percent.

Mortgage Rates Hit a New Record Low the First Week of 2021

Retrieved on:

Thursday, January 7, 2021

Mortgage, Loans, Mortgage loan, Money, Finance, Fixed-rate mortgage, United States housing bubble, Economy, Second mortgage, Subprime mortgage crisis

A new year, a new record low mortgage rate, said Sam Khater, Freddie Macs Chief Economist.

Key Points:

A new year, a new record low mortgage rate, said Sam Khater, Freddie Macs Chief Economist.
Despite a full percentage point decline in rates over the past year, housing affordability has decreased because these low rates have been offset by rising home prices.
30-year fixed-rate mortgage averaged 2.65 percent with an average 0.7 point for the week ending January 7, 2021, down from last week when it averaged 2.67 percent.
15-year fixed-rate mortgage averaged 2.16 percent with an average 0.6 point, down slightly from last week when it averaged 2.17 percent.

Mortgage Rates Remain Near Record Low Heading Into 2021

Retrieved on:

Thursday, December 31, 2020

Mortgage, Finance, Money, Fixed-rate mortgage, Economy, Mortgage loan, Discount points, Commitment rate

Heading into 2021 we expect rates to remain flat, potentially rising modestly off their record low, but solid purchase demand and tight inventory will continue to put pressure on housing markets as well as house price growth.

Key Points:

Heading into 2021 we expect rates to remain flat, potentially rising modestly off their record low, but solid purchase demand and tight inventory will continue to put pressure on housing markets as well as house price growth.
30-year fixed-rate mortgage averaged 2.67 percent with an average 0.7 point for the week ending December 31, 2020, up slightly from last week when it averaged 2.66 percent.
15-year fixed-rate mortgage averaged 2.17 percent with an average 0.7 point, down from last week when it averaged 2.19 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Hit Record Low at Yearend

Retrieved on:

Thursday, December 24, 2020

Mortgage, Money, Finance, Economy, Mortgage loan, Fixed-rate mortgage, Refinancing, Discount points, Second mortgage, United States housing market correction

The housing market is poised to finish the year strong as low mortgage rates continue to fuel homebuyer demand and refinance activity, said Sam Khater, Freddie Macs Chief Economist.

Key Points:

The housing market is poised to finish the year strong as low mortgage rates continue to fuel homebuyer demand and refinance activity, said Sam Khater, Freddie Macs Chief Economist.
30-year fixed-rate mortgage averaged 2.66 percent with an average 0.7 point for the week ending December 24, 2020, down from last week when it averaged 2.67 percent.
15-year fixed-rate mortgage averaged 2.19 percent with an average 0.5 point, down from last week when it averaged 2.21 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Hit Another Record Low

Retrieved on:

Thursday, December 17, 2020

Mortgage, Money, Finance, Economy, Mortgage loan, Fixed-rate mortgage, Discount points, Second mortgage, United States housing market correction

Mortgage rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market.

Key Points:

Mortgage rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market.
30-year fixed-rate mortgage averaged 2.67 percent with an average 0.7 point for the week ending December 17, 2020, down from last week when it averaged 2.71 percent.
15-year fixed-rate mortgage averaged 2.21 percent with an average 0.6 point, down from last week when it averaged 2.26 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Remain Flat

Retrieved on:

Thursday, December 10, 2020

Mortgage industry of the United States, Mortgage, Finance, Money, Loans, Mortgage loan, Commitment rate, Fixed-rate mortgage, United States housing bubble, Economy, Subprime mortgage crisis

Mortgage rates remain at record lows, resisting their typical correlation to Treasury yields, which have recently been moving higher, said Sam Khater, Freddie Macs Chief Economist.

Key Points:

Mortgage rates remain at record lows, resisting their typical correlation to Treasury yields, which have recently been moving higher, said Sam Khater, Freddie Macs Chief Economist.
Mortgage spreads the difference between mortgage rates and the 10-year Treasury rate are declining from their elevated levels earlier this year.
30-year fixed-rate mortgage averaged 2.71 percent with an average 0.7 point for the week ending December 10, 2020, unchanged from last week.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Reach Another Record Low

Retrieved on:

Thursday, December 3, 2020

Mortgage, Finance, Money, Economy, Loans, Mortgage loan, Commitment rate, Fixed-rate mortgage, Discount points, Second mortgage

Sam Khater, Freddie Macs Chief Economist says, Despite persistently low mortgage rates, home sales have hit a wall.

Key Points:

Sam Khater, Freddie Macs Chief Economist says, Despite persistently low mortgage rates, home sales have hit a wall.
Unfortunately, the record low supply combined with strong demand means home prices are rapidly escalating and eroding the benefits of the low mortgage rate environment.
15-year fixed-rate mortgage averaged 2.26 percent with an average 0.6 point, down from last week when it averaged 2.28 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Hold Steady Heading into the Thanksgiving Holiday

Retrieved on:

Wednesday, November 25, 2020

Mortgage, Money, Finance, Economy, Mortgage loan, Refinancing, Discount points, Fixed-rate mortgage, Second mortgage, Loan modification in the United States

Mortgage rates remain at record lows and while that has fueled a refinance boom, its been driven mainly by higher income borrowers.

Key Points:

Mortgage rates remain at record lows and while that has fueled a refinance boom, its been driven mainly by higher income borrowers.
30-year fixed-rate mortgage averaged 2.72 percent with an average 0.7 point for the week ending November 25, 2020, unchanged from last week.
15-year fixed-rate mortgage averaged 2.28 percent with an average 0.6 point, unchanged from last week.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Drop, Hitting a Record Low for the Thirteenth Time this Year

Retrieved on:

Thursday, November 19, 2020

Mortgage, Money, Finance, Mortgage loan, Economy, Discount points, Fixed-rate mortgage

Weaker consumer spending data, which accounts for the majority of economic growth, drove mortgage rates to a new record low, said Sam Khater, Freddie Macs Chief Economist.

Key Points:

Weaker consumer spending data, which accounts for the majority of economic growth, drove mortgage rates to a new record low, said Sam Khater, Freddie Macs Chief Economist.
30-year fixed-rate mortgage averaged 2.72 percent with an average 0.7 point for the week ending November 19, 2020, down from last week when it averaged 2.84 percent.
15-year fixed-rate mortgage averaged 2.28 percent with an average 0.6 point, down from last week when it averaged 2.34 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Rise

Retrieved on:

Thursday, November 12, 2020

Mortgage, Finance, Money, Economy, Mortgage loan, Refinancing, Commitment rate, Discount points, Fixed-rate mortgage, Freddie Mac

MCLEAN, Va., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.84 percent.

Key Points:

MCLEAN, Va., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.84 percent.
Mortgage rates jumped this week as a result of positive news about a COVID-19 vaccine, said Sam Khater, Freddie Macs Chief Economist.
Despite this rise, mortgage rates remain about a percentage point below a year ago and the low rate environment is supportive of both purchase and refinance demand.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.