Tag Archives: 15-year

Demand for Refinancing Declines as Mortgage Rates Soar

Dropping to its lowest level in a year and a half, refinance demands fell for a fourth continuous week, while, the mortgage rates continued to climb. It was the weakest demand for refinancing since November 2011. According to the weekly Mortgage Bankers Association (MBA) survey, as the average interest rates on 30-year fixed-rate mortgages dropped […]

Home Loan Originations Increase for Third Straight Month

For the third consecutive month, loans that originated for purchasing homes have increased. According to Ellie Mae’s Organization Insight Report for April, these loans made up for 42% of total loan originations, compared to 38% in March and 27% in January. Of these loan originations, 68% were conventional loans and 22% were Federal Housing Association […]

Mortgage Rates See First Increase Since March

For the first time since March, mortgage rates have gone up last week, mostly as a result of the jobless rate and the stock market’s milestone. The average rate for a 30-year fixed-rate mortgage increased from 3.52% two weeks ago to 3.6% last week, according to Bankrate.com. The mortgages in last week’s survey had an […]

15-Year Fixed-Rate Mortgage Falls to Record Low

The average rate on a 15-year fixed-rate mortgage fell in the week ending April 25. Freddie Mac reported the average rate fell from 2.64% last week to 2.61% this week. It was the lowest rate since Freddie Mac has been keeping track of these records in 1971. A year ago, the average rate was 3.12%. […]

Mortgage Rates Fall for Third Straight Week

Today, Freddie Mac reported that the national averages for mortgage rates for the week ending April 18 fell for the third week in a row. Thirty-year fixed-rate mortgages averaged 3.41%, with an average 0.7 point, down from 3.43% last week and 3.90% the same time last year. For 15-year fixed-rate mortgages, the average rate was […]

Affordable Financial Services LTD Weekly Review

RealtyTrac recently reported that short sales outpaced foreclosure sales in 2012 by a 3-to-1 margin. While foreclosure sales accounted for 11% of all sales — a 13% drop from 2011 — short sales made up 32% of all sales last year, a 5% year-over-year gain. In the fourth quarter of 2012, foreclosures sold at a […]

Fixed-Rate Mortgages Remain the Same for Second Straight Week

USA Today reported that the average rates of 30-year and 15-year fixed-rate mortgages remained unchanged for the second week in a row. Both rates stayed at near-record lows, which contributed to a surge in home sales. Today, Freddie Mac announced that the rate on 30-year loans averaged 3.53%, the lowest since it was at 3.31% […]

Homeowners Saved 33% in Interest through Refinancing during Q4 2012

Freddie Mac announced today that homeowners who refinanced their mortgages during the fourth quarter of 2012 were able to reduce their interest rates by an average of 1.8 percentage points. That works out to a 33% reduction of their interest rates, which is the largest reduction ever recorded by Freddie Mac. As an example, a […]

Mortgage Rates Increase Following Jobs Report

Freddie Mac recently released the results of its Primary Mortgage Market Survey for the week ending October 12. The report showed fixed- and adjustable-rate mortgages were up following the recent unemployment report that came out for September. For the week, the 30-year fixed-rate mortgage was up to 3.39%, compared to 3.36% the previous week. However, […]

Affordable Financial Services LTD’ Weekly Finance Review

Home prices are falling in most major U.S. cities, as reported by Bloomberg BusinessWeek. At least 10 major U.S. markets, including New York, are at their lowest point since the housing boom of 2006-2007. According to The Standard & Poor’s/Case-Shiller city index, home prices fell in 19 out of the 20 major cities. The record […]