Tag Archives: Freddie Mac

Refinancing Expected to Lose Market Share in 2014

Analysis reports on refinancing by Freddie Mac have shown that during the fourth quarter of 2013, the refinance share of applications averaged 56% in its monthly refinance survey. But its economists foresee a drop in refinances to 38% this year. Many homeowners who refinanced through Freddie Mac in 2013 have been choosing fixed rate mortgages […]

First-Time Homebuyer Purchases Fall to All-Time Low

According to the National Association of Realtors® (NAR), first-time homebuyers accounted for only 27% of all home sales in December 2013—the lowest level since the NAR started tracking such statistics in 2008. Factors that may be contributing to diminishing numbers include high student loans, poor credit scores, low employment, and the rise in home prices […]

Mortgage Rates Increase After Announcement Of Tapering Of Bond Buying Program

  Freddie Mac’s Primary Mortgage Market Survey recently reported that the average rate for a 30-year fixed-mortgage was 4.48% as of the week ending December 26. The week prior, the rate was 4.47% — resulting in a 0.7% increase. One year ago during the same week, 30-year fixed-rate mortgages were about 3.35%. The 15-year fixed-rate […]

30-Year Mortgage Rate Rises

Rates for fixed mortgages increased this week, which has indicated that buying a home will be less affordable in upcoming months. The average rate on a 30-year loan jumped from 4.29% to 4.46% this week, according to Freddie Mac. Regarding 15-year loans, rates also increased from 3.30% to 3.47%. Since May, when the Federal Reserve […]

Breaks for Homeowners Likely to Expire in 2014

Congress has indicated that all the write-offs homeowners enjoyed in the past are set to expire at the end of the year and see no further relief any time soon. Last year, Congress decided at the last minute to extend assistance for mortgage debt and deductions for mortgage insurance payments. Currently, The House and Senate […]

Freddie Mac Completes Fewer Loan Modifications in September

The total amount of loan modifications completed by Freddie Mac decreased in September, according to the agency’s Monthly Volume Summary. There were 6,685 loan modifications in September, a 12.9% decrease from the previous month. Despite the decline, Freddie Mac has completed an average of 6,715 loan modifications per month this year, while in 2012, the […]

GSE Sees Foreclosures Drop 11% in Q2 2013

Reports have shown that Foreclosures and delinquencies have continued to drop within government-sponsored enterprises such as Fannie Mae and Freddie Mac after second-quarter reviews from the Federal Housing and Finance Agency’s (FHFA) Foreclosure Prevention Report. Interestingly, third-party sales and foreclosures fell 10% from last quarter and foreclosure starts decreased by 11%. This is the result […]

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 […]

Will Fannie and Freddie Shutdown Push Up Mortgage Rates Further?

The Associated Press reported today that, if Congress has its way, the two government-controlled mortgage guarantee entities — Fannie Mae and Freddie Mac — could close down, resulting in higher mortgage rates. The House and Senate have separate bills that would phase out both Fannie and Freddie over a five-year period. But while the House […]

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%. […]