V. Dion Haynes, The Washington Post Published 8:08 am PDT, Thursday, July 5, 2018 Photo: Bloomberg Photo By Jay Mallin Image 1of/1 CaptionClose Image 1 of 1 Freddie Mac headquarters are seen in McLean, Va. Freddie Mac headquarters are seen in McLean, Va. Photo: Bloomberg Photo By Jay Mallin Temporary slide in mortgage rates could give new hope to first-time home buyers 1 / 1 Back to Gallery Mortgage rates continued their month-long slide, according to data released Thursday, giving new - but temporary - hope to millennial buyers struggling to piece together a down payment amid soaring home prices and lackluster wage growth. According to the Freddie Mac survey of lenders, the 30-year fixed-rate average decreased to 4.52 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of … [Read more...] about Temporary slide in mortgage rates could give new hope to first-time home buyers
20 year va mortgage rates
By Jeff Lazerson | [email protected] | MortgageGrader.com PUBLISHED: May 3, 2018 at 12:42 pm | UPDATED: May 3, 2018 at 12:42 pm What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey: The 30-year fixed rate averaged 4.55 percent, 3 gratifying basis points down (and hopefully a momentum changer) from last week’s 4.58 percent. The 15-year fixed averaged 4.03 percent, 1 basis point higher than last week’s 4.02 percent. The Mortgage Bankers Association reported a 2.5 percent decrease in loan application volume from the previous week. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a $453,100 conforming loan, last year’s rate of 4.03 percent and payment of $2,171 was $146 less than this week’s payment of $2,317. What I see: Locally, well-qualified borrowers can get the following adjustable-rate mortgages at a one-point … [Read more...] about Fannie and Freddie impeding more affordable adjustable-rate mortgages
Mortgage rates rise with spring buying Long-term U.S. mortgage rates climbed upward this week, slightly worsening affordability for homebuyers. Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages rose to 4.47 percent from 4.42 percent last week. This benchmark rate averaged 3.97 percent a year ago. With the start of the traditional spring homebuying season, people shopping for homes are dealing with higher loan costs and fewer properties for sale. The average rate on 15-year, fixed-rate loans rose this week to 3.94 percent from 3.87 percent. The interest paid by the government is up along with the federal budget deficit in the wake of President Donald Trump's tax cuts and plans by the Federal Reserve to raise short-term borrowing rates for banks. Mark Kimball Photo by Contributed Photo /Times Free Press. Kimball named CEO of Murphy hospital Erlanger Health System has tapped a 20-year hospital manager to serve as the new chief … [Read more...] about Business Briefs: Mortgage rates rise with spring buying
SUNDAY BEST -- SENATE REPUBLICAN LEADER MITCH McCONNELL, live from Louisville, to Bob Schieffer on CBS’s “Face the Nation”: “I don't think a two-week paid vacation for federal employees is conservative policy. A number of us were saying back in July that this strategy could not and would not work. And, of course, it didn't. So there'll not be another government shutdown, you can count on that.” --McCONNELL, to Schieffer, on the next round of fiscal negotiations with President Obama: “Unfortunately, every discussion we've had about this in the past has had, what I would call a ransom attached to it: a trillion dollars in new tax revenues.” Story Continued Below --SEN. TED CRUZ, in a pre-tape with at the ABC Washington bureau, to Jonathan Karl on “This Week”: “I think it was unfortunate that you saw multiple members of the Senate Republicans going on television attacking House conservatives, attacking the effort … [Read more...] about PETER BAKER BOOK: Bush started to grind teeth as Iraq wore on — TOMORROW AT WHITE HOUSE: Obama to address glitches — BILL CLINTON 3-day swing in Va.
(MoneyWatch) With all the talk this year about housing finance reform, doomsayers have started to predict the demise of the 30-year fixed-rate mortgage. Theoretically, two housing finance reform bills circulating through Congress could end it. The extinction of Fannie Mae and Freddie Mac could end it. The introduction and popularity of other loan sizes -- the 15-year or the 20-year -- could doom it to irrelevance. Housing industry experts and analysts are worried because the 30-year mortgage has been a staple of homeownership since World War II, particularly for low- to middle-income Americans who could not afford to pay for a home otherwise. The homeownership rate before the 30-year was popularized was in 40-percent range, according to the U.S. Census Bureau. As it became more popular in the 1950s and 60s, that rate was pushed into the 60-percent range, where it remains today. Fannie Mae to fix glitch that rejected borrowers Top 10 most expensive homes in America "And that was all … [Read more...] about Why the 30-year mortgage is here to stay