Mortgage rates increased in January

by Anna Sobrevinas03 Mar 2017
Mortgage rates increased in the beginning of the year, according to a recent survey by the Federal Housing Finance Agency.

Contract rates on mortgages on newly built homes rose to 4.02%, while Freddie Mac reported an increase to 4.15%.

A Fannie Mae survey also found out that for the first quarter of the year, a small group of lenders anticipate a decrease in demand for GSE-eligible mortgages in part because of higher mortgage rates.

About half of large and mid-sized institutions believed demand would fall because of unfavorable mortgage, while 30% of small institutions share the same sentiment. 

However, new home sales contracts went up by 3.7% in January despite higher mortgage rates. And existing home sales, for both single-family homes and condos, rose by 3.3% in January – the fastest pace since February 2007.

On the contrary, pending home sales dropped by 2.8% in January – the lowest level in a year – according to the National Association of Realtors’ Pending Home Sales Index.


Related stories: 
Get borrowers off the sidelines and into a home
Buyer demand hits new high – Redfin

 

COMMENTS

  • by sunday | 3/4/2017 6:35:22 AM

    I love this post which i have been looking for all these while . I also found quality in this post as well http://bit.ly/2mvCD52

  • by IYIADE | 3/4/2017 6:36:38 AM

    I love this post which i have been looking for all these while . I also found quality in this post as well http://mortgageautofinance.com

  • by jenny | 3/5/2017 5:01:08 AM

    My name is Jennifer Lora me and my husband are here to testify about how we
    use Lisa ATM CARD to make money and also have our own business
    today. Go get your blank ATM card today and be among the lucky ones. This
    PROGRAMMED blank ATM card is capable of hacking into any ATM
    machine,anywhere in the world.It has really changed our life for good and
    now we can say we are rich and we can never be poor again. You can withdraw
    the maximum of $ 10,000 daily We can proudly say our business is doing fine
    and we have up to 20,000 000 (20 millions dollars in our account) Is not
    illegal,there is no risk of being caught ,because it has been programmed in
    such a way that it is not traceable,it also has a technique that makes it
    impossible for the CCTV to detect you..For details on how to get yours today, email her on : [ lisaatmcard@gmail.com ]
    or call her on
    ( 12678734910 )

    NOTE: She is giving out the ATM card for free now.

Poll

Is TILA-RESPA a good or bad thing long term?