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30-year fixed-rate mortgage: Averaged 4.58 percent with an average 0.7 point for the week ending July 1, 2010, down from last week when it averaged 4.69 percent. Last year at this time, the 30-year FRM averaged 5.32 percent.

The 15-year fixed-rate mortgage: Averaged 4.04 percent with an average 0.7 point, down from last week when it averaged 4.13 percent. A year ago at this time, the 15-year FRM averaged 4.77 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 3.79 percent this week, with an average 0.7 point, down from last week when it averaged 3.84 percent. A year ago, the 5-year ARM averaged 4.88 percent.

One-year Treasury-indexed ARMs: Average 0.7 point, up from last week when it averaged 3.77 percent. At this time last year, the 1-year ARM averaged 4.94 percent.

Freddie Sayz

Interest rates on fixed rate mortgages and the 5 year hybrid ARM fell once again to all time record lows this week in a period where the economy struggles to gain momentum and inflation remains very low, said Frank Nothaft, Freddie Mac vice president and chief economist. Growth estimates for first quarter GDP were revised down by a half percentage point over the past two months to 2.7 percent, according to the Bureau of Economic Analysis . Annual inflation, as measured by the 12 month change in the core CPI, held at 0.9 percent in April and May, which is the slowest pace in over 44 years, as reported by the Bureau of Labor Statistics .

Meanwhile, house prices are improving due in part to the homebuyer tax credit. The S&P/Case-Shiller® 20-city home price index grew 0.4 percent between March and April and was up 3.9 percent from April 2009, representing the largest annual gain since October 2006. Moreover, 17 of the metropolitan areas experienced monthly gains in April, compared to 10 in March and six in February

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30-year fixed-rate mortgage: Averaged 4.69 percent with an average 0.7 point for the week ending June 24, 2010, down from last week when it averaged 4.75 percent. Last year at this time, the 30-year FRM averaged 5.42 percent.

The 15-year fixed-rate mortgage: Averaged 4.13 percent with an average 0.6 point, down from last week when it averaged 4.20 percent. A year ago at this time, the 15-year FRM averaged 4.87 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 3.84 percent this week, with an average 0.7 point, down from last week when it averaged 3.89 percent. A year ago, the 5-year ARM averaged 4.99 percent.

One-year Treasury-indexed ARMs: Averaged 3.77 percent this week with an average 0.7 point, down from last week when it averaged 3.82 percent. At this time last year, the 1-year ARM averaged 4.93 percent. This is the lowest the 1-year ARM has been since the week ending May 6, 2004 when it averaged 3.76 percent.

Freddie Sayz

Mortgage rates for all but traditional 1-year ARMs hit all time record lows this week in our survey while activity in the housing market slowed in May following the expiration of the homebuyer tax credit, said Frank Nothaft, Freddie Mac vice president and chief economist. Freddie Mac began collecting rates for 30 year fixed loans in April 1971, 15-year fixed mortgages in September 1991 and 5-year hybrid ARMs in January 2005.

The record low for traditional 1 year ARMs of 3.36 percent occurred during the week of March 25, 2004. Both new and existing home sales showed unexpected declines in May. Existing sales fell 2.2 percent, compared to the market consensus forecast of a 6.0 percent gain, based on figures published by the National Association of Realtor . Sales of new homes fell 32.7 percent to an annualized rate of 300,000 units, which was the largest monthly drop and slowest pace since records began in 1963, according to the Census Bureau

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30-year fixed-rate mortgage: Averaged 4.72 percent with an average 0.7 point for the week ending June 10, 2010, down from last week when it averaged 4.79 percent. Last year at this time, the 30-year FRM averaged 5.59 percent.

The 15-year fixed-rate mortgage: Averaged 4.17 percent with an average 0.7 point, down from last week when it averaged 4.20 percent. A year ago at this time, the 15-year FRM averaged 5.06 percent. The 15-year FRM has not been lower since Freddie Mac started tracking the 15-year FRM in August of 1991 and sets another record low for the fourth straight week.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 3.92 percent this week, with an average 0.7 point, down from last week when it averaged 3.94 percent. A year ago, the 5-year ARM averaged 5.17 percent.

One-year Treasury-indexed ARMs: Averaged 3.91 percent this week with an average 0.6 point, down from last week when it averaged 3.95 percent. At this time last year, the 1-year ARM averaged 5.04 percent. The 1-year ARM has not been lower since the week ending May 27, 2004 when it averaged 3.87 percent.

Freddie Sayz
Following a relatively weak employment report, bond yields fell this week and mortgage rates followed, said Frank Nothaft, Freddie Mac vice president and chief economist. Private payrolls rose by 41,000 jobs in May, less than a quarter of the market forecast consensus of an 180,000 gain. Interest rates on 30-year fixed mortgage hover near the record low set on December 3, 2009 in our survey; the Primary Mortgage Market Survey began in April 1971.

Meanwhile, rates on 15-year fixed mortgages set another record low for the fourth week in a row. Overall, the economy does show signs of improvement. The Federal Reserve reported in its June 9th regional economic review that the economy strengthened in all 12 of its Districts over April and May. It also noted that loan quality was stable or improving in most Districts, but remained an issue for banks with large exposure to real estate

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30-year fixed-rate mortgage: Averaged 4.79 percent with an average 0.8 point for the week ending June 3, 2010, up slightly from last week when it averaged 4.78 percent. Last year at this time, the 30-year FRM averaged 5.29 percent.

The 15-year fixed-rate mortgage: Averaged 4.20 percent with an average 0.7 point, down slightly from last week when it averaged 4.21 percent. A year ago at this time, the 15-year FRM averaged 4.79 percent. The 15-year FRM has not been lower since Freddie Mac started tracking the 15-year FRM in August of 1991 and breaks last week's record low.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 3.94 percent this week, with an average 0.7 point, down from last week when it averaged 3.97 percent. A year ago, the 5-year ARM averaged 4.85 percent.

One-year Treasury-indexed ARMs: Averaged 3.95 percent this week with an average 0.7 point, unchanged from last week when it averaged 3.95 percent. At this time last year, the 1-year ARM averaged 4.81 percent. The 1-year ARM has not been lower since the week ending May 27, 2004 when it averaged 3.87 percent.

Freddie Sayz

The economy grew at a slower rate than originally reported in the first three months of the year, according to the Bureau of Economic Analysis , which suggests inflation will remain tame in the near term, said Frank Nothaft, Freddie Mac vice president and chief economist.

As a result, mortgage rates held at historic levels this week. In fact, rates on 15-year fixed rate mortgages set another record low for the third week in a row. There are also signs that credit conditions may be improving. The number of homeowners with private mortgage insurance who became current on their mortgages outnumbered those who defaulted for the third month in a row in April, according to data compiled by the Mortgage Insurance Companies of America

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Hot off the presses! Huge News for ANY REO Listing Agent....

Freddie Mac/Homesteps just announced that they will be doing live on-site interviews at the upcoming REO Expo Event for open positions they have for listing brokers around the nation. Don't miss out or waste any time because this opportunity will pass by quickly!

To learn more check out this link for all of the details: http://www.reoexpo2010.com/freddie-mac

Plus, if you looked at the above page and want to get a head start, download their questionnaire/application to hand to them live and in-person at the REO Expo do so by clicking here: http://www.reoexpo2010.com/FreddieMac_Pre-Interview_Questionnaire.pdf

Please note: They do not have openings in every state, but don't let that stop you from trying anyway. As you know in this business, there are no guarantees and you never know when doors to opportunity will open up.

Lastly, NFSTI & The BPO Automation Group will host a 10x10 booth to help promote our networks during the REO Expo convention. During the negotiations with the guys of REO Expo we were able to heat up the offer for attendees who use our discount code (REOXNFSTI).

All members utilizing this code will receive a $100 discount off the registration price.

Here are the details of the REO Expo:

  • What: The REO Expo
  • Who: Hosted by Housing Wire and REO Insider Magazines, MC'd by Pro Football Hall of Fame Inductee Emmitt Smith!
  • When: June 6-9
  • Where: Dallas, TX (Hyatt Regency Reunion Tower)
  • Why: To share the latest in Default Servicing, Display new technology, learn new aspects of the REO trade, and for the Pinnacle Award Ceremony.
  • How: Registration is online at www.REOExpo2010.com. Be sure to sign up sooner than later because attendance is capped and the free classes that we're being offered through the Open Door Institute and Default School are closing up fast.

Don't Miss Out....Sign up Today!

Nicole Ocean

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30-year fixed-rate mortgage: Averaged 4.93 percent with an average 0.7 point for the week ending May 13, 2010, down from last week when it averaged 5.00 percent. Last year at this time, the 30-year FRM averaged 4.86 percent. The 30-year FRM has not been lower since the week ending December 10, 2009, when it averaged 4.81 percent.

The 15-year fixed-rate mortgage: Averaged 4.30 percent with an average 0.6 point, down from last week when it averaged 4.36 percent. A year ago at this time, the 15-year FRM averaged 4.52 percent. The 15-year FRM has not been lower since the week ending December 3, 2009 when it averaged 4.27 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 3.95 percent this week, with an average 0.6 point, down from last week when it averaged 3.97 percent. A year ago, the 5-year ARM averaged 4.82 percent. The 5-year ARM has not been lower since Freddie Mac started tracking the 5-year ARM in January of 2005.

One-year Treasury-indexed ARMs: Averaged 4.02 percent this week with an average 0.6 point, down from last week when it averaged 4.07 percent. At this time last year, the 1-year ARM averaged 4.71 percent. The 1-year ARM has not been lower since the week ending November 4, 2004, when it averaged 4.00 percent.

Freddie Sayz

Interest rates on fixed rate mortgage declined for the 5th straight week, said Frank Nothaft, Freddie Mac vice president and chief economist. The National Association of Realtors reported that median house prices are recovering in more local areas in the latest quarter. On a year over year basis for the 152 areas the association reports on, 91 metropolitan areas had positive growth in the first quarter of this year. This compares to 67 areas showing positive annual growth in the fourth quarter of 2009 and only 30 cities in the third quarter of last year.

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Freddie Mac Weekly Update: Rates Stable

Rates Mostly Unchanged This Week

30-year fixed-rate mortgage: Averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010, down slightly from last week when it averaged 5.07 percent. Last year at this time, the 30-year FRM averaged 4.78 percent.

The 15-year fixed-rate mortgage: Averaged 4.39 percent with an average 0.7 point, unchanged from last week when it averaged 4.39 percent. A year ago at this time, the 15-year FRM averaged 4.48 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.00 percent this week, with an average 0.6 point, down from last week when it averaged 4.03 percent. A year ago, the 5-year ARM averaged 4.80 percent.

One-year Treasury-indexed ARMs: Average 0.5 point, up from last week when it averaged 4.22 percent. At this time last year, the 1-year ARM averaged 4.77 percent.

Freddie Sayz

Mortgage rates on 30-year fixed loans have averaged about 5 percent over the first four months of this year, staying within a band of roughly a quarter percentage point and virtually matching 2009s annual average, said Frank Nothaft, Freddie Mac vice president and chief economist. These low rates have been helping to moderate house price declines over the course of the year.

Prices on existing homes showed a 12-month increase of 0.7 percent in February, which was the first annual increase since December 2006, according to the S&P/Case-Shiller® 20-city composite index [PDF]. In addition, nine cities experienced positive growth, matching the number in January. Further, the Census Bureaus Constant Quality price index showed that new home prices rose 2.5 percent in the first quarter on an annual basis.

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Fannie Mae REO Properties on HomePath.com

For those of you who might be unaware, Fannie Mae has been releasing their REO inventory. Whatever your opinions are on Fannie, Freddie or the government programs in general, they have released more REO than most other financial institutions and we have to work with them. Embrace it, especially if you're a buyers agent... this is a good thing for buyers. Check out their website, they list their Active listings as well as listings that are coming soon. Use it to your advantage, and your buyers: www.homepath.com

Ok, I blew my Fannie horn for the day :) Have a good weekend!

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30-year fixed-rate mortgage: Averaged 5.07 percent with an average 0.7 point for the week ending April 22, 2010, unchanged from last week when it averaged 5.07 percent. Last year at this time, the 30-year FRM averaged 4.80 percent.

The 15-year fixed-rate mortgage: Averaged 4.39 percent with an average 0.6 point, down from last week when it averaged 4.40 percent. A year ago at this time, the 15-year FRM averaged 4.48 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.03 percent this week, with an average 0.6 point, down from last week when it averaged 4.08 percent. A year ago, the 5-year ARM averaged 4.85 percent.

One-year Treasury-indexed ARMs: Averaged 4.22 percent this week with an average 0.5 point, up from last week when it averaged 4.13 percent. At this time last year, the 1-year ARM averaged 4.82 percent.

Freddie Sayz

Mortgage rates on fixed loans were relatively unchanged this week while ARM rates were mixed, said Frank Nothaft, Freddie Mac vice president and chief economist. These low mortgage rates are revitalizing the home construction industry. For instance, although new building of one-family homes slowed slightly between February and March by an annualized rate of 0.9 percent, this was primarily due to a 33.7 percent drop in the Midwest.

The other three regions rose to their strongest pace since the second half of 2008. In addition, builder confidence rose more than the market consensus in April to the highest level since September 2009, according to the National Association of Home Builders/Wells Fargo index . During the same month, the builder gauge of current home sales increased to its highest since March 2008.

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Freddie Mac Weekly Update:


Rates at Second Highest Level This Year


30-year fixed-rate mortgage: Averaged 5.08 percent with an average 0.7 point for the week ending April 1, 2010, up from last week when it averaged 4.99 percent. Last year at this time, the 30-year FRM averaged 4.78 percent.

The 15-year fixed-rate mortgage: Averaged 4.39 percent with an average 0.6 point, up slightly from last week when it averaged 4.34 percent. A year ago at this time, the 15-year FRM averaged 4.52 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.10 percent this week, with an average 0.6 point, down from last week when it averaged 4.14 percent. A year ago, the 5-year ARM averaged 4.92 percent.

One-year Treasury-indexed ARMs: Averaged 4.05 percent this week with an average 0.6 point, down from last week when it averaged 4.20 percent. At this time last year, the 1-year ARM averaged 4.75 percent.

Freddie Sayz

Interest rates for fixed mortgages rose this week following a run up in long-term bond yields, while ARM rates eased slightly, said Frank Nothaft, Freddie Mac vice president and chief economist. Rates on 30-year fixed loans were the highest since the starting week of this year. Home-price declines continue to moderate with more metropolitan areas showing stabilizing or rising values.

Compared with one year ago, house prices were down 0.7 percent in January 2010 in the S&P/Case-Shiller 20-City Composite Index, which was the smallest 12-month decrease since January 2007. Nine of the cities experienced positive growth, led by San Franciscos 9.1 percent annual gain. Recently, the Mortgage Insurance Companies of America reported that homeowners who moved out of default outnumbered those who became newly delinquent in February, which was the first such occurrence since March 2006.

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Freddie Mac Weekly Update: Rates Flat




30-year fixed-rate mortgage: Averaged 4.96 percent with an average 0.7 point for the week ending March 18, 2010, up slightly from last week when it averaged 4.95 percent. Last year at this time, the 30-year FRM averaged 4.98 percent.

The 15-year fixed-rate mortgage: Averaged 4.33 percent with an average 0.6 point, up slightly from last week when it averaged 4.32 percent. A year ago at this time, the 15-year FRM averaged 4.61 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.09 percent this week, with an average 0.6 point, up from last week when it averaged 4.05 percent. A year ago, the 5-year ARM averaged 4.98 percent.

One-year Treasury-indexed ARMs: Averaged 4.12 percent this week with an average 0.6 point, down from last week when it averaged 4.22 percent. At this time last year, the 1-year ARM averaged 4.91 percent.

Freddie Sayz

Mortgage rates for fixed-rate mortgages were virtually unchanged this week as the effects of the prior storms emerged in recent housing data, said Frank Nothaft, Freddie Mac vice president and chief economist. New construction slowed by 5.9 percent in February to 575,000 homes. Both the South and Northeast regions had all the declines due to the snow storms. In addition, homebuilder confidence unexpectedly dipped in March according to the NAHB/Wells Fargo Housing Market Index .

With house prices starting to stabilize and even rise, homeowners on aggregate are slowly building back equity in their homes based on figures from the Federal Reserve Board . After losing almost $7.9 trillion in home equity since the end of 2006, homeowners regained almost $1.1 trillion over the past three quarters ending in 2009.

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Freddie Mac Weekly Update: Rates Flat




30-year fixed-rate mortgage: Averaged 4.96 percent with an average 0.7 point for the week ending March 18, 2010, up slightly from last week when it averaged 4.95 percent. Last year at this time, the 30-year FRM averaged 4.98 percent.

The 15-year fixed-rate mortgage: Averaged 4.33 percent with an average 0.6 point, up slightly from last week when it averaged 4.32 percent. A year ago at this time, the 15-year FRM averaged 4.61 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.09 percent this week, with an average 0.6 point, up from last week when it averaged 4.05 percent. A year ago, the 5-year ARM averaged 4.98 percent.

One-year Treasury-indexed ARMs: Averaged 4.12 percent this week with an average 0.6 point, down from last week when it averaged 4.22 percent. At this time last year, the 1-year ARM averaged 4.91 percent.

Freddie Sayz

Mortgage rates for fixed-rate mortgages were virtually unchanged this week as the effects of the prior storms emerged in recent housing data, said Frank Nothaft, Freddie Mac vice president and chief economist. New construction slowed by 5.9 percent in February to 575,000 homes. Both the South and Northeast regions had all the declines due to the snow storms. In addition, homebuilder confidence unexpectedly dipped in March according to the NAHB/Wells Fargo Housing Market Index .

With house prices starting to stabilize and even rise, homeowners on aggregate are slowly building back equity in their homes based on figures from the Federal Reserve Board . After losing almost $7.9 trillion in home equity since the end of 2006, homeowners regained almost $1.1 trillion over the past three quarters ending in 2009.

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30-year fixed-rate mortgage: Averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.03 percent.

The 15-year fixed-rate mortgage: Averaged 4.32 percent with an average 0.7 point, down from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.64 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.05 percent this week, with an average 0.6 point, down from last week when it averaged 4.11 percent. A year ago, the 5-year ARM averaged 4.99 percent. Averaged 4.11 percent this week, with an average 0.6 point, down from last week when it averaged 4.16 percent. A year ago, the 5-year ARM averaged 5.08 percent.

One-year Treasury-indexed ARMs: Averaged 4.22 percent this week with an average 0.6 point, down from last week when it averaged 4.27 percent. At this time last year, the 1-year ARM averaged 4.80 percent.

Freddie Sayz

During a light week of mixed economic reports, mortgage rates eased somewhat, said Frank Nothaft, Freddie Mac vice president and chief economist. Pending existing home sales fell 7.6 percent in January, well below the market consensus of a 1 percent gain. Meanwhile, the economy lost only 36,000 jobs in February, fewer than market forecasts, and the unemployment rate held steady at 9.7 percent. In addition, revisions added a net 35,000 workers to January and December combined.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nations residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

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Freddie Mac Weekly Mortgage Rate Commentary:

30-Year Fixed-Rate Mortgage Over 5 Percent

30-year fixed-rate mortgage: Averaged 5.05 percent with an average 0.7 point for the week ending February 25, 2010, up from last week when it averaged 4.93 percent. Last year at this time, the 30-year FRM averaged 5.07 percent.

The 15-year fixed-rate mortgage: Averaged 4.40 percent with an average 0.7 point , up from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.68 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.16 percent this week, with an average 0.6 point, up from last week when it averaged 4.12 percent. A year ago, the 5-year ARM averaged 5.06 percent.

One-year Treasury-indexed ARMs: Averaged 4.15 percent this week with an average 0.6 point, down from last week when it averaged 4.23 percent. At this time last year, the 1-year ARM averaged 4.81 percent.

Freddie Sayz

Interest rates for 30-year fixed mortgages followed long-term bond yields higher and rose above 5 percent this week amid a mixed set of economic data reports said Frank Nothaft, Freddie Mac vice president and chief economist. For instance, the January producer price index jumped well above the market consensus, but the consumer price index remained subdued and consumer confidence declined to the lowest level since April 2009, according to the Conference Board .

There were also varying reports as to the current state of the housing market. The S&P/Case-Shiller national home price index rose for the third consecutive quarter in the fourth quarter, albeit at a slower rate, and the 20 city composite index showed an increase in December 2009 for the seventh month in a row; six metropolitan areas experienced positive year over year growth, compared to four in November. New home sales, however, unexpectedly slowed in January to the smallest pace since records began in 1963, and the supply of homes at the current sales rate rose to 9.1 months, the most since May 2009.

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Freddie Mac Weekly Mortgage Rate Commentary:

Fixed-Rates Down Slightly While ARMs Are Mixed30-year fixed-rate mortgage: Averaged 5.06 percent with an average 0.7 point for the week ending January 14, 2010, down from last week when it averaged 5.09 percent. Last year at this time, the 30-year FRM averaged 4.96 percent.The 15-year fixed-rate mortgage: Averaged 4.45 percent with an average 0.6 point , down from last week when it averaged 4.50 percent. A year ago at this time, the 15-year FRM averaged 4.65 percent.Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.32 percent this week, with an average 0.6 point, down from last week when it averaged 4.44 percent. A year ago, the 5-year ARM averaged 5.25 percent.One-year Treasury-indexed ARMs: Averaged 4.39 percent this week with an average 0.5 point, up from last week when it averaged 4.31 percent. At this time last year, the 1-year ARM averaged 4.89 percent.Freddie SayzInterest rates for fixed rate mortgages eased a little further this week, while ARM rates were mixed, said Frank Nothaft, Freddie Mac vice president and chief economist. With fixed mortgage rates staying near a record low, many homeowners are taking the opportunity to refinance. For instance, over the past three-and-a-half months, on average more than 75 percent of conventional mortgage applications were for refinance transactions, according to the Mortgage Bankers Association.The Federal Reserve recently reported positive news in both the housing market and the overall state of the economy in its January 13th regional economic report, which spanned the last few months of 2009. Economic activity improved in 10 of its 12 districts. Home sales, especially for lower-priced homes, increased due in part to the homebuyer tax credit and house prices appeared to have changed little since its last reportThanks for Readingwww.yourpropertypath.comRelated ArticlesFHA and Fannie Mae Propose Rule ChangeFHA Losses: What it MeansFHA Has New Rules
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Freddie Mac Weekly Mortgage Rate Commentary:

30-year fixed-rate mortgage: Averaged 5.09 percent with an average 0.7 point for the week ending January 7, 2009, down from last week when it averaged 5.14 percent. Last year at this time, the 30-year FRM averaged 5.01 percent.The 15-year fixed-rate mortgage: Averaged 4.50 percent with an average 0.7 point, down from last week when it averaged 4.54 percent. A year ago at this time, the 15-year FRM averaged 4.62 percent.Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.44 percent this week, with an average 0.6 point, unchanged from last week when it averaged 4.44 percent. A year ago, the 5-year ARM averaged 5.49 percent.One-year Treasury-indexed ARMs: Averaged 4.31 percent this week with an average 0.6 point, down from last week when it averaged 4.33 percent. At this time last year, the 1-year ARM averaged 4.95 percent.Freddie SayzMortgage rates eased slightly this week after rising consecutively through December, said Frank Nothaft, Freddie Mac vice president and chief economist. Current interest rates for fixed rate mortgages are just about at their annual average for 2009, while ARM rates are considerably below their averages for last year. As the economy strengthens further and the Federal Reserve (Fed) decides to raise its overnight target rate, ARM rates will follow suit because they are typically tied to shorter-term interest rates. However, the federal funds futures market does not anticipate any Fed action until the second half of 2010Thanks for Readingwww.yourpropertypath.comRelated ArticlesThe Politics Of Home Ownership and How It Became Too Easy To OwnHousings Weak Recovery: Lets Follow The MoneyNAR: Existing Home Sales Report
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30-Year and 15-Year Rates Still at Incredibly Low Levels30-year fixed-rate mortgage: Average 0.7 point for the week ending December 31, 2009, up from last week when it averaged 5.05 percent. Last year at this time, the 30-year FRM averaged 5.10 percent.The 15-year fixed-rate mortgage: Averaged 4.54 percent with an average 0.7 point, up from last week when it averaged 4.45 percent. A year ago at this time, the 15-year FRM averaged 4.83 percent.Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.54 percent with an average 0.7 point, up from last week when it averaged 4.45 percent. A year ago at this time, the 15-year FRM averaged 4.83 percent.One-year Treasury-indexed ARMs: Averaged 4.33 percent this week with an average 0.6 point, down from last week when it averaged 4.38 percent. At this time last year, the 1-year ARM averaged 4.85 percent.Freddie SayzAlthough long-term mortgage rates rose for the fourth week in a row, they still remain affordable by historical standards, said Frank Nothaft, Freddie Mac vice president and chief economist. Based on todays median loan amount of $138,000, monthly principal and interest payments for a 30-year fixed-rate mortgage are close to one third less than a decade ago when rates peaked at 8.6 percent in May 2000.This translates into almost 50 percent less in interest payments over the full 30 year term. Nationally, the housing market is slowly improving. House prices rose for the fifth consecutive month in October to the highest level since the beginning of 2009, according to the S&P/Case-Shiller 20-city composite index . Eleven of the cities experienced positive growth.Thanks for Readingwww.yourpropertypath.comRelated ArticlesFHA Has New RulesLoan Modification: A Primer
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Freddie Mac Weekly Update: Rates Just Over 5%

30-Year and 15-Year Rates Still at Incredibly Low Levels30-year fixed-rate mortgage: Averaged 5.05 percent with an average 0.7 point for the week ending December 24, 2009, up from last week when it averaged 4.94 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.The 15-year fixed-rate mortgage: Averaged 4.45 percent with an average 0.6 point, up from last week when it averaged 4.38 percent. A year ago at this time, the 15-year FRM averaged 4.91 percent.nt.Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.40 percent this week, with an average 0.6 point, up from last week when it averaged 4.37 percent. A year ago, the 5-year ARM averaged 5.49 percent.One-year Treasury-indexed ARMs: Averaged 4.38 percent this week with an average 0.6 point, up from last week when it averaged 4.34 percent. At this time last year, the 1-year ARM averaged 4.95%.Freddie SayzAlthough interest rates for 30-year fixed rate mortgages are above 5% this week for the first time since the end of October, they are still around 0.5 percentage points below this years peak set in. ARM rates increased by a lesser amount as the market consensus calls for no rate hikes by the Federal Reserve in the immediate future. Meanwhile, the housing market continues to show improvement. Total existing home sales jumped 7.4% in November to an annualized pace of 6.54 million units, which was the most since February 2007. Moreover, the number of unsold existing homes was the lowest since December 2006 and the number of unsold new homes was the least since April 1971, which may leave future room for new constructionThanks for Readingwww.yourpropertypath.comRelated ArticlesFHA Has New RulesMortgage Bankers: Weekly Update Loan Apps DeclineLoan Modification: A Primer
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Mortgage Rates Follow Bond Yields Higher30-year fixed-rate mortgage: Averaged 4.94 percent with an average 0.7 point for the week ending December 17, 2009, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.19 percent.The 15-year fixed-rate mortgage: Averaged 4.38 percent with an average 0.6 point, up from last week when it averaged 4.32 percent. A year ago at this time, the 15-year FRM averaged 4.92 percent.Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.37 percent this week, with an average 0.6 point, up from last week when it averaged 4.26 percent. A year ago, the 5-year ARM averaged 5.60 percent.One-year Treasury-indexed ARMs: Averaged 4.34 percent this week with an average 0.5 point, up from last week when it averaged 4.24 percent. At this time last year, the 1-year ARM averaged 4.94 percent.Freddie SayzMortgage rates followed bond yields higher once again this week amid signs of an improving economy, said Frank Nothaft, Freddie Mac vice president and chief economist. 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 .Thanks for Readingwww.yourpropertypath.comRelated ArticlesShould You Stop Paying Your MortgageStock Market Views On The Housing RecoveryThe Coming Mortgage Debt Reduction Programs
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Freddie Mac weekly Update

30 Year Fixed Rate Falls Below 5 Percent30-year fixed-rate mortgage: Averaged 4.83 percent with an average 0.7 point for the week ending November 19, 2009, down from last week when it averaged 4.91 percent. Last year at this time, the 30-year FRM averaged 6.04 percent.The 15-year fixed-rate mortgage: Averaged 4.32 percent with an average 0.6 point, down from last week when it averaged 4.36 percent. A year ago at this time, the 15-year FRM averaged 5.73 percent.Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.25 percent this week, with an average 0.6 point, down from last week when it averaged 4.29 percent. A year ago, the 5-year ARM averaged 5.87 percent.One-year Treasury-indexed ARMs: Averaged 4.35 percent this week with an average 0.6 point, down from last week when it averaged 4.46 percent. At this time last year, the 1-year ARM averaged 5.29 percent.Freddie SayzInterest rate on 30 year fixed-rate mortgage loans fell for the third consecutive week to the lowest since the week ending May 21st, while 15 year fixed rates were the lowest since our records began in 1991, said Frank Nothaft, Freddie Mac vice president and chief economist. Low fixed rates throughout the third quarter prompted an estimated $1.1 trillion in refinancing activity, saving homeowners about $10 billion in aggregate monthly payments over the first 12 months of their new loan. Moreover, for the fourth consecutive quarter, more than 95 percent of prime borrowers who originally had an ARM selected a conventional fixed rate mortgage in the third quarter of this year.Meanwhile, new home building showed some weakness in recent months. Residential construction eased 10.6 percent (annualized) between September and October, largely driven by a 33.3 percent decline in new condominium and apartment buildings and represented the slowest pace since records began in 1959. And homebuilder confidence in November remained a relatively low level, according to the National Association of Home Builders .Thanks for Readingwww.yourpropertypath.comRelated ArticlesReverse MortgagesARM's - How Do They Work?EEM
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