Freddie Mac released the results of its Primary Mortgage Market Survey®(PMMS),showing average fixed mortgage rates finishing the year near their all-time historic lows. Thirty-year fixed rate mortgages averaged 3.95 percent and have been at or below 4.0 percent for the past nine consecutive weeks keeping homebuyer affordability at a near all-time high. [...]
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 | This morning,Freddie Mac released the results of it’s Primary Mortgage Market Survey revealing that the interest rate on a 30-year fixed rate mortgage averaged 4.01 percent,which is an all-time record low and the interest rate on a 15-year fixed rate mortgage averaged 3.28 percent,also an all-time record low! [...] HomeSteps,the home-sale division of Freddie Mac,announced today it is launching a nationwide sales promotion on it’s inventory of foreclosed homes starting today. The promotion,titled “The HomeSteps Summer Sales Promotion”,is offering up to pay buyer’s closing costs,up to 3.5 percent of the sales price and a bonus to the selling agent [...] Freddie Mac,one of the nation’s largest investors in conforming,conventional mortgages,announced it will delay initiating foreclosure for at least nine months for financially troubled service members who are released from active duty through the end of 2011 and have Freddie Mac-owned mortgages. “Our military make sacrifices every day to protect our homes and [...] Dennis Norman The CEO of Freddie Mac,Ed Haldeman,published a blog post this week which said reports of mortgage fraud were on the rise;there were nearly 38,000 cases of mortgage in the first half of 2010 –a 13 percent increase over the same period in 2009. Haldeman says that the fraudsters [...] Dennis Norman Last week both Fannie Mae and Freddie Mac announced relief for homeowners with a mortgage insured by either agency (which accounts for over 90 percent of the home loans in the U.S.) that either have drywall problems (the Chinese drywall issue) or are in the Gulf coast area and are affected by [...] Dennis Norman UPDATE June 21,2010- I said I would update this post after the proposed rules were published on the Federal Register with info on how to submit a comment -If you would like to comment,see the comment instructions in the Federal Register (I highlighted them) by clicking here -end of update. [...] Dennis Norman Freddie Mac,Fannie Mae and CitiMortgage give borrowers a break over the holidays… Within the past day Freddie Mac and Fannie Mae have both announced that they are suspending evictions from December 19,2009 through January 3,2010 on foreclosed homes,two families and four families,that they hold. CitiMortgage [...] 15-Year FRM Drops to Set Another New Low in Freddie Mac Survey History McLean,VA – 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 4.78 percent with an average 0.7 point for the week ending November 25,2009,down from [...] Back in July I did a post about Freddie Macs “Smartbuy”sales promotion for owner-occupants buying Freddie Mac Homesteps(R) Homes. The special offer began July 17,2009 and ends October 30,2009 so there is less than a month to take advantage of it. Under this promotion people buying a Freddie Mac home for their personal [...] Dennis Norman According to Freddie Macs weekly mortgage market survey for the week ending October 1st, the interest rate on home mortgages dropped with 30 year fixed rate mortgages hitting the lowest level since May 28th. The survey shows the interest rate on a 30 year fixed rate mortgage for the week averaged 4.94 percent with [...] Dennis Norman In an effort to help delinquent borrowers obtain Loan Modifications under the Affordable Refinance Program of the Making Home Affordable Program Freddie Mac has hired a company to come to borrowers homes and help them put together the documents and complete other actions needed to begin their three-month trial payment periods under the Affordable [...] Dennis Norman According to Freddie Macs weekly mortgage market survey the interest rate on home mortgages dropped for the third-consecutive week and remains at a three-month low. The survey shows the interest rate on a 30 year fixed rate mortgage for the week ending September 17,2009,averaged 5.04 percent with 0.7 percent in fees and [...] Dennis Norman According to Freddie Macs weekly mortgage market survey the interest rate on fixed-rate home mortgages dropped to the lowest rate since May 28th. The survey shows the interest rate on a 30 year fixed rate mortgage averaging 5.08 percent with 0.7 percent in fees and points this week,down from 5.14 percent last [...] Dennis Norman According to Freddie Macs weekly mortgage market survey the interest rate on home mortgages dropped to a new three-month low. The survey shows the interest rate on a 30 year fixed rate mortgage averaging 5.12 percent with 0.7 percent in fees and points this week,down from 5.29 percent last week. Last year at [...] Freddie Mac announced that in the second quarter of 2009,refinancing borrowers overwhelmingly chose fixed-rate loans,regardless of whether their original loan was an adjustable-rate mortgage (ARM) or fixed. In fact,ninety-nine percent of prime borrowers who originally had a conforming ARM selected a new conforming fixed-rate mortgage when they refinanced. While 30-year fixed-rate mortgages [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates decreased slightly for the week ending August 6,2009 from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.22% with 0.6% in fees and points, down from 5.25% the week before. Last year at this time,the 30 year rate averaged 6.52%. [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.25% with 0.7% in fees and points,up from 5.20% the week before. Last year at this time,the 30 year rate averaged 6.52%. Rates [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.20% with 0.7% in fees and points, up from 5.14% the week before. Last year at this time,the 30 year rate averaged 6.63%. Rates on 15 year fixed-rate [...] Freddie Mac just announced their“Smartbuy”sales promotion for owner-occupants buying Freddie Mac Homesteps(R) Homes. Under this promotion people buying a Freddie Mac home for their personal residence will receive at no cost: A comprehensive two-year HomeProtect(R) Home Warranty Up to 3.5% payment by Freddie Mac towards buyers closing costs Homeprotect(R) Appliance discount (up to [...] Dennis Norman By:Dennis Norman Today Freddie Mac posted a new video on You Tube that shows borrowers that cannot afford their current mortgage payments how to properly approach their lender to see if they qualify for a loan modification under the Making Home Affordable Program,or under one of Freddie Mac’s other workout programs. [...] Dennis Norman By:Dennis Norman Effective the 1st of this month The Federal Housing Finance Agency has authorized Fannie Mae and Freddie Mac to expand the Home Affordable Refiance Program (HARP) to homeowners who are current on their mortgage payments from the present maximum loan to value of 105% to 125%. The program is [...] Dennis Norman By:Dennis Norman Practically the entire real estate industry seems to be abuzz about the Home Valuation Code of Conduct (HVCC) that went into effect May 1st. I first wrote about it back in early April in a post on this blog. Since Fannie Mae and Freddie Mac implemented the new rule [...] I’m pleased that within the last couple of days,some real economists that are actually paid for their opinion of the market,have come out and stated that housing my be near the bottom;Something that I first suggested over two weeks ago in a post on this site and then again four days ago in another post. [...] By:Dennis Norman For the eighth week in a row,the interest on fixed-rate home loans has fallen according to the Primary Mortgage Market Survey released this week by Freddie Mac. The survey shows interest rates for a 30 year fixed-rate mortgage have dropped to an average of 5.14% nationwide,down from 5.19% the [...] By:Dennis Norman This morning the National Association of REALTORS(R) released data for existing home sales for November. The numbers show sales of existing homes down 8.6% nationwide versus October and down 10.6% versus last year. The Northeast saw the biggest decline in sales being down 12.0% versus last month and 18.0% versus last year. The west [...] | ||||
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