Global and domestic economic concerns continue to drive down mortgage rates. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate. "Looking ahead to next week, we.
The housing market has been looking slightly better over the last few month and Freddie Mac July economic report reflects that fact.. mortgage of 4.1 percent this year and an even lower 4.0.
But despite lower mortgage rates that could fall even further if the Fed carries through with expected interest rate cuts sometime this year, potential home buyers aren’t taking the bait. The 30-year, fixed-rate mortgage (FRM) should average 4.3% for the rest of 2019 and by the end of 2020 will be slightly higher at 4.5.
Freddie Mac’s Mortgage Rate Survey Explained. Research Note: Freddie Mac’s Primary Mortgage Market Survey (PMMS) is the longest running weekly survey of mortgage interest rates in the United States. Since Freddie Mac launched its survey in 1971, others have begun collecting and reporting mortgage rate information.
Ocwen buying portfolio of delinquent Ginnie Mae mortgages The New York Department of Financial Services has put the kibosh on any bulk purchases of MSRs after it killed their deal with Wells Fargo , so the nonbank has turned its gaze to 1,705 delinquent federal housing administration-insured loans with a principal balance of $253.1M from Ginnie Mae pools. Ocwen is already the servicer on the portfolio.
Aggregate prepayment speeds for the Fannie Mae 30-year universe have risen by 10%, 25% and 24% over the last three reports. Now, a rally that has pushed U.S. 10-year Treasury yield to 2.21%, its lowest level since September 2017, and a Freddie Mac 30-year mortgage rate lower for four consecutive weeks may spark more refinancings if sustained.
· Mortgage giant Freddie Mac said Thursday the average rate on the benchmark 30-year, fixed-rate mortgage dipped to 4.75% from 4.81% last week. The key rate stood at 3.94% a year ago. Mortgage agency Freddie Mac says average 30-year mortgage rates hit 3.82% in June, the lowest level in nearly two years.
Driven down by worries about a trade war with China, mortgage rates have sunk to multiyear lows. According to the latest data.
Mortgage rates tend to behave like the yield on the 10-year Treasury note, which dropped below 2% for the first time since 2016 after the Fed issued its statement.. Freddie Mac this week made.
Sam Khater, Freddie Mac’s chief economist, says, "Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year. Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months."
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