Tag Archives: Mortgage Interest Rates

The Federal Housing Finance Agency has conducted its monthly interest rate survey for 4,437 loans closed during the last five business days in April across 17 lenders, and has reported a decline by 14 to 15 basis points across all mortgage interest rates. The average loan amount has also seen a slight drop of $1,100 after experiencing a spike in March. And while average loan amounts fluctuate from one month to the next, interest rates have been dropping since February.

When the Federal Open Market Committee closes its meeting next week, it will likely not conclude with a rate hike, but the Fed cannot stand pat, even though core inflation is clearly rising.

After two months of consecutive declines in mortgage interest rates Freddie Mac reported that they have finally moved upward amidst subsiding financial market turbulence.

“For the remainder of this year, we're likely to continue to see these mortgage rate swings as market participants try to anticipate Fed timing around rising short term interest rates,” said Len Kiefer, deputy chief economist at Freddie Mac. “Unfortunately, perspective homebuyers may experience bouts of affordability shock in many housing markets."

The Consumer Financial Protection Bureau (CFPB) announced that it has ordered California-based residential mortgage lender Franklin Loan Corporation to pay $730,000 in restitution for rewarding its employees with bonuses for suggesting loans with higher interest rates to borrowers.