Holding the line on interest rates can be good for originators overall, but might have some negative impact in markets with tight inventory
The Fed will likely hold the line on short-term interest rates at its meeting next week
Purchasing a home or refinancing a mortgage? Now is a fantastic time to consider applying for a home loan. Mortgage rates are at market lows and affordability has never been more opportunistic. The question everybody asks when getting a mortgage is "what is your rate?"
Though a number of critical questions face the US economy, from the unfinished business in Washington like the debt limit and spending cuts to lackluster growth, the outlook for mortgage rates is relatively predictable and not very exciting.
As of mid-December, the average thirty-year fixed-rate mortgage was near its historic low of about 3.3 percent, or half its level in August 2007 when financial turmoil began.
Freddie Mac(OTCBB: FMCC) today released the results of its Primary Mortgage Market Survey(R) (PMMS®), showing fixed mortgage rates continuing to hover near their all-time record lows helping to keep homebuyer affordability high and aiding the ongoing housing recovery.
Edward DeMarco, the controversial acting director of the Federal Housing Finance Agency (FHFA), may be replaced by the White House in early 2013.
Banks in the United States have figured out certain ways to derive handsome profits from their mortgage lending operations despite the historically-low mortgage interest rates, a battered housing market and very restrictive guidelines for borrowing.