Tag Archives: fixed-rate

Existing Home Sales Rise 6.5% in July

The National Association of REALTORS announced today that existing home sales during the month of July rose by 6.5% compared to June and also saw a 17.2% increase year over year. According to the NAR, existing home sales were up from a downwardly revised figure of 5.06 million in June to a seasonally adjusted annual […]

Mortgage Delinquencies Jump by Almost 10% in June

Lender Processing Services (LPS) recently released its Mortgage Monitor Report, which showed that early mortgage delinquencies rose by 9.9% during the month of June. The national mortgage delinquency rate went from 6.08% in May to 6.68% in June. However, it is lower than it was in the beginning of the year, when it was 6.9%, […]

Pending Home Sales Dip in June as Mortgage Rates Rise

The National Association of REALTORS recently reported that the seasonally adjusted index for pending home sales was 110.9 in June, down 0.4% from a downwardly revised figure of 111.3 during the month of May — a six-year high. Since last year, home prices and mortgage rates have increased, suggesting that sales are beginning to slow […]

Recent Forecast Shows Mortgage Rates Continue to Grow

According to Fannie Mae’s Economic and Strategic Report, the 30-year fixed mortgage rate increased more than 110 basis points from May to June. Recent data shows continued improvement with May’s existing home sales jumping to its highest level in six years. Also, new home sales were up in May to the highest level since July […]

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 […]

Home Purchase Applications Rise, But Refinancing Is Down

The Mortgage Bankers Association announced that overall mortgage application activity fell 4% the week ending March 29 to the lowest level since March 15. The number of applications for home purchases — a leading indicator of home sales — rose 1.4% but those gains were negated by the seasonally adjusted index of refinancing applications, which […]

Mortgage Applications Fall for Second Week in a Row

The Mortgage Bankers Association reported recently that mortgage applications fell 7.1% for the week ending March 15. This marked the second consecutive week of declines. The refinance index dropped 8%, making it 10 straight weeks of declines. In addition, refinancing fell to 75% of all mortgage activity — its lowest level since May 2012. The […]

GAO Says Lower Home Prices Resulted in Problems with FHA Reverse Mortgage Program

The Government Accountability Office (GAO) recently came out with a report that the Federal Housing Administration’s (FHA) reverse mortgage program experienced a $2.8 billion shortfall last year as the result of falling home prices. Because of falling home prices, GAO says, those who have a house owe more than what it is worth. As a […]