Rates also took a breather after three weeks of consecutive increases
As broadly predicted, the Fed hiked the benchmark interest rate this week. But what does that mean for originators?
Great news for real estate investors, home shoppers and mortgage borrowers: Operation Twist and other efforts by the United States Federal Reserve to stimulate the economy will continue until at least 2015.
With the news on the improvement signs in the job market, and the increase in the home prices, the mortgage rates too are on an upward movement.
Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates moving higher following stronger-than-expected employment reports. The 30-year fixed averaged 3.59 percent, and the 15-year fixed averaged, 2.84 percent, still near the historic low.
Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates falling to new all-time record lows for the sixth consecutive week amid weak economic and job data helping to keep homebuyer affordability high.
Mortgage applications increased 3.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 18, 2012.
reddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates again hitting new record lows. The 30-year fixed-rate mortgage at 3.79 percent continues to remain well below 4 percent and 15-year fixed-rate mortgages are also slightly down at 3.04 percent.