Mortgage interest rates rose slightly this week, marking the fourth consecutive week of increases, according to the Freddie Mac Primary Mortgage Market Survey. The rate for a 30-year fixed-rate mortgage was 4.4% with an origination point of 0.8, up slightly from 4.39% last week. The rate one year ago was 4.79%. The 15-year FRM reached 3.77%, up from 3.76% last week, but still much below the rate last year at 4.29%. The 5-year Treasury adjustable-rate mortgage rate increased 5 basis points to an average 3.45%, while the 1-year Treasury ARM hit a new record low at 3.23%, down from 3.26% last week. The rates one year ago were 4.18% and 4.35%, respectively. Frank Nothaft, chief economist at Freddie Mac, attributed the stabilization to positive economic factors. “Growth in growth domestic product in the third quarter was revised up from the initial estimate to an annualized rate of 2.5%, as strong consumer spending and exports supported the revision,” Nothaft said. “Homeowner balance sheets are also improving.” A new study done by Campbell and Inside Mortgage Finance showed that most homeowners in September used cash to finance their home purchases in an effort to deleverage their debt. Tuesday, Freddie Mac reported that delinquencies on loans it funds are up slightly to 3.82% from 3.8%. Write to Christine Ricciardi.
Freddie Mac mortgage rates uptick for fourth consecutive week
November 24, 2010, 10:55am
Christine was a reporter with HousingWire through August 2011.see full bio
Most Popular Articles
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Christine was a reporter with HousingWire through August 2011.see full bio
