The average rate for a conforming 30-year mortgage has fallen for the third week in a row to 3.66 percent, the lowest rate since May 2013 when the rate averaged 3.59 percent and 75 basis points below the 4.41 percent average rate at the same time last year. And... Read More »

The availability of mortgage credit is increasing, driven by a rise in the number of jumbo Adjustable Rate Mortgage programs in the market, according to the Mortgage Bankers Association’s latest Mortgage Credit Availability Index. In addition, minimum credit scores and maximum loan-to-value ratios for FHA and VA loans have... Read More »

Having dropped to a six-month low last week, the average rate for a conforming 30-year mortgage has ticked down one more basis point to 4.20 percent, 38 basis points below the three-year high rate of 4.58 percent recorded this past August. At the same time, Wells Fargo is now... Read More »

The average rate for a conforming 30-year mortgage ticked down from 4.41 to 4.34 percent over the past week and is 24 basis points below the three-year high rate of 4.58 percent recorded this past August. Having averaged 6.67 percent since 1990, the average rate for a 30-year fixed... Read More »

As expected, the average rate for a conforming 30-year mortgage ticked up from 4.32 to 4.40 percent over the past week. The current 30-year rate is within 18 basis points of the 34-month high rate of 4.58 percent recorded this past August. Having averaged 6.67 percent since 1990, the... Read More »

The average rate for a conforming 30-year mortgage ticked up from 4.33 to 4.37 percent over the past week and is within 21 basis points of the 33-month high rate of 4.58 percent recorded this past August. The average rate for a 30-year fixed mortgage was 3.51 percent at... Read More »

Having ticked down to 4.29 percent at the beginning of July, last week the average rate for a 30-year fixed mortgage ticked up to 4.51 percent for conforming loans on speculation that the Federal Reserve will reduce future bond purchases following June’s strong employment report. That being said, while... Read More »

As we reported two weeks ago: While industry groups furiously lobby, it’s now t-minus two weeks until the super/jumbo conforming loan limits that provide for federally backed mortgages up to $729,750 in high cost areas like San Francisco are set to expire on September 30. As we first reported... Read More »

“U.S. prime jumbo mortgages at least 60 days late backing securities reached 9.6 percent in January from 9.2 percent in December, the 32nd straight increase for “serious delinquencies”… share of borrowers current the previous month and that then turned delinquent fell to 1.2 percent in the month covered... Read More »

“Bank of America, the country’s largest mortgage lender, is rolling out a large program to finance loans between about $730,000 and $1.5 million, with fixed 30-year rates starting in the upper 5% range. The loans will be available through the bank’s retail network and through its Countrywide Home Loans... Read More »