Mortgage Applications Decrease in Latest MBA Weekly Survey
February 24, 2010 Posted by MBA
WASHINGTON, D.C. - February 24, 2010 - (RealEstateRama) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 19, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 8.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7.3 percent compared with the previous week.“As many East Coast markets were digging out from the blizzard last week, purchase applications fell, another indication that housing demand remains relatively weak,” said Michael Fratantoni, MBA’s Vice President of Research and Economics. “With home prices continuing to drift amid an abundant inventory of homes on the market, potential homebuyers do not see any urgency to lock in purchases.”
Fixed-Rate Mortgages Dominant Among Refinancing Homeowners
February 15, 2010 Posted by Freddie Mac
McLean, VA - February 15, 2010 - (RealEstateRama) — Freddie Mac (NYSE:FRE) announced today that in the fourth quarter of 2009, refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or a fixed-rate, according to Freddie Mac’s quarterly Product Transition Report. While 30-year fixed-rate mortgages are still the most preferred product chosen for the new loan, 15-year fixed-rate mortgages gained favor among refinancers who previously held 30-year fixed-rate mortgages, balloon mortgages and ARMs. Overall, fixed-rate loans accounted for more than 95 percent of refinance loans during the quarter
Freddie Mac to Purchase Substantial Number of Seriously Delinquent Loans From PC Securities
February 10, 2010 Posted by Freddie Mac
McLean, VA - February 10, 2010 - (RealEstateRama) — Freddie Mac (NYSE: FRE) announced today that it will purchase substantially all 120 days or more delinquent mortgage loans from the company’s related fixed-rate and adjustable-rate (ARM) mortgage Participation Certificate (PC) securities.
Freddie Mac Releases 26th Annual ARM Survey Results
January 20, 2010 Posted by Freddie Mac
McLean, VA - January 20, 2010 - (RealEstateRama) — Freddie Mac today released the results of its 26th Annual Adjustable-Rate Mortgage (ARM) survey of prime loan offerings. The survey, conducted January 4 to January 8, found that lenders who offer adjustable-rate mortgages (ARMs) find hybrids far more popular with borrowers than annually adjusting ARMs.
National Average Long-Term Mortgage Rate Rises to 5 Percent
October 22, 2009 Posted by Freddie Mac
McLean, VA - October 22, 2009 - (RealEstateRama) — Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.00 percent with an average 0.7 point for the week ending October 22, 2009, up from last week when it averaged 4.92 percent. Last year at this time, the 30-year FRM averaged 6.04 percent.
30-Year Fixed Rate Still Below 5 Percent for Third Consecutive Week
October 15, 2009 Posted by Freddie Mac
McLean, VA - October 15, 2009 - (RealEstateRama) — Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.92 percent with an average 0.7 point for the week ending October 15, 2009, up from last week when it averaged 4.87 percent. Last year at this time, the 30-year FRM averaged 6.46 percent.
30-Year Fixed-Rate Mortgage Nearing All-Time Low Set In Survey In April
October 1, 2009 Posted by Freddie Mac
5-Year Fixed Mortgage Rates Are The Lowest Since Freddie Mac Records Began In 1991; 5-Year ARM Rates Also Hits Record Low. McLean, VA - October 1, 2009 - (RealEstateRama) — Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.94 percent with an average 0.7 point for the week ending October 1, 2009, down from last week when it averaged 5.04 percent. Last year at this time, the 30-year FRM averaged 6.10 percent. The last time the 30-year FRM was below 5 percent was the week ending May 28, 2009, when it averaged 4.91 percent.
Mortgage Rates Remain Low, Increasing Affordability
September 24, 2009 Posted by Freddie Mac
McLean, VA - September 24, 2009 - (RealEstateRama) — Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.04 percent with an average 0.6 point for the week ending September 24, 2009, unchanged from last week when it averaged 5.04 percent. Last year at this time, the 30-year FRM averaged 6.09 percent.
Mortgage Rates Down Slightly This Week
September 10, 2009 Posted by Freddie Mac
McLean, VA - September 10, 2009 - (RealEstateRama) — Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.07 percent with an average 0.7 point for the week ending September 10, 2009, down from last week when it averaged 5.08 percent. Last year at this time, the 30-year FRM averaged 5.93 percent
Mortgage Applications Increase in Latest MBA Weekly Survey
August 26, 2009 Posted by MBA
WASHINGTON, D.C. - August 26, 2009 - (RealEstateRama) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 21, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 7.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6.3 percent compared with the previous week and 34.1 percent compared with the same week one year earlier.The Refinance Index increased 12.7 percent from the previous week, the third increase in the last four weeks. The seasonally adjusted Purchase Index increased 1.0 percent from one week earlier, solely boosted by increased demand for government loans. This marks the fourth consecutive weekly gain – the first time this has happened since March, when fixed mortgage rates first dropped and stayed below 5 percent.
