Tag Archives: Mortgage Rates

Lenders and investors should expect defaults on mortgage loans currently being originated to be 31 percent higher than for loans originated in the 1990s, according to a new report from University Financial Associates (UFA). As a point of comparison, UFA's index for the worst vintages of this cycle (2006-2008) carried a default risk of more than 125 percent above the 1990s baseline. UFA says with consumer balance sheets improving and mortgage rates at record lows, the stage is set for a recovery in the housing market.

Freddie Mac released the results of its weekly mortgage rate survey Thursday, showing average fixed mortgage rates largely unchanged and near their record lows, helping to keep housing affordability high for those borrowers who are in the market. The 30-year fixed rate dipped from 4.00 percent last week to 3.99 percent. At 3.27 percent, the 15-year fixed rate averaged just slightly above its all-time low of 3.26 percent on October 6, 2011. Adjustable-rate mortgages (ARMs) rose slightly this week, but are coming off of all-time historic lows recorded last week.

BOK Financial Mortgage Group announced Thursday that it is now accepting applications for the recently extended and expanded Home Affordable Refinance Program (HARP). The program applies to homeowners who currently have a Freddie Mac or Fannie Mae mortgage and who meet certain other eligibility criteria. HARP 2.0 is designed to help borrowers, including those who owe more than their home's value, to take advantage of low interest rates and other refinancing benefits.

Fixed mortgage rate averages remain near their all-time historic lows, fortifying high levels of homebuyer affordability throughout the country. Freddie Mac reported Thursday that the 30-year fixed-rate mortgage has averaged at or below 4.00 percent for five consecutive weeks now, while the 15-year fixed has hovered around 3.30 percent. Adjustable-rate mortgages ticked down slightly this week, averaging new record lows for the second straight week.

CoreLogic has announced a new set of services designed specifically to address the anticipated increase in refinance activity expected from revisions to the Home Affordable Refinance Program (HARP). Many lenders are expected to look to third-party providers to help them manage the expected spike in mortgage refinancing. CoreLogic says its new HARP 2.0 offerings will combine the company's data and analytics with experienced teams of outsourcing professionals to improve operational pull-through.

Data released by Freddie Mac Wednesday shows mortgage interest rates across the board edged lower for the shortened holiday week, with the 30-year fixed rate slipping to its second-lowest reading on record and adjustable-rate mortgages (ARMs) setting new all-time lows. The 30-year fixed-mortgage rate has averaged at or below 4 percent for four consecutive weeks now. For the week ending November 23, Freddie Mac's study puts it at 3.98 percent. The 5-year ARM is now averaging 2.91 percent, and the 1-year ARM is 2.79 percent.

Data released by Freddie Mac shows the average rate for a fixed-rate mortgage with a 30-year term has hovered at or below the 4.00 percent threshold for three consecutive weeks. The GSE's latest study, averaging rate data from 125 lenders for the week ending November 17, puts the 30-year fixed-rate mortgage at exactly 4.00 percent. The 15-year fixed-rate mortgage, a popular refinancing choice, averaged 3.31 percent.

Fannie Mae and Freddie Mac have released highly anticipated guidelines for the revised Home Affordable Refinance Program (HARP). Among the key program revisions, the GSEs have eliminated or raised the loan-to-value cap, and relaxed representation and warranty stipulations. Both government officials and market analysts have said rep and warranty waivers could spark heated competition among lenders to refinance borrowers through HARP. With the new guidelines, the GSEs laid out exactly what will be waived.

The average 30-year fixed-rate mortgage came in at 3.99 percent this week, according to data released Thursday by Freddie Mac. It's the second time this year the rate has dropped below the 4.00 percent mark, and is the second lowest reading in the history of the GSE's survey. It averaged 3.94 percent for the week ending October 6, 2011. Freddie Mac described rate movement overall as ""changing little"" amid a mix of economic data reports, with most loan products up or down just 1 to 2 basis points.

Mortgage interest rates dropped sharply this week as investors rushed to U.S. Treasury bonds amid concerns over the European debt crisis. Data released by Freddie Mac Thursday puts the average rate for a 30-year fixed mortgage at 4.00 percent for the week ending November 3rd. That marks its second lowest reading since hitting an all-time low of 3.94 percent in early October. The 30-year rate fell 10 basis points from 4.10 percent last week. Last year at this time, it was averaging 4.24 percent.