twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.

Purchase Activity Lowest in Nearly a Decade

Average 30-year fixed-rate 4.91%

Nov. 12, 2009


The number of new loan prospects for home purchases fell to the lowest level in nearly a decade despite declining mortgage rates.

The average 30-year fixed-rate mortgage dropped 7 basis points from the prior week to 4.91% in Freddie Mac's
Primary Mortgage Market Survey for the week ended Nov. 12. The 30-year was 6.14% a year ago. Freddie predicted in its November 2009 Economic and Housing Market Outlook that the 30-year will average 5.0% this quarter then rise to 5.3% in the first-quarter of next year.

Down a more moderate 4 BPS from seven days earlier, the average 15-year fixed-rate mortgage was 4.36%, Freddie said.

The 10-year Treasury yield was 3.466% during trading today, according to data from The U.S. Department of the Treasury reported that the 10-year yield closed a week ago at 3.57%. The 10-year's movement suggests mortgage rates could ease slightly in Freddie's next survey -- barring any big market movements.

A plurality of panelists predicted mortgage rates will rise at least 3 BPS during the next 35 to 45 days, according to the survey for the week Nov. 12 to Nov. 18. No change was expected by 45%, and just 9% projected a decline.

The five-year Treasury-indexed hybrid adjustable-rate mortgage slipped 6 BPS from last week to 4.29%, according to Freddie's survey.

But the one-year Treasury-indexed ARM averaged just 0.01% less than last week at 4.46%. The one-year is still 87 BPS better than the same week in 2008. Freddie projected the one-year will average 4.6% in the fourth quarter then edge up to 4.7% the following quarter.

The one-year ARM's underlying index, the yield on the one-year Treasury bill, closed at 0.33 % Tuesday, according to Treasury data. Last Thursday, the one-year Treasury yielded 0.36%.

The London Interbank Offered Rate, a widely used index for subprime ARMs, was 0.54% yesterday, reported. LIBOR fell from 0.56% a week earlier.

ARM share fell to 5.5% in the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ended Nov. 6 from 6.1% in the prior survey. Freddie expects ARM share to come in at 4% this quarter and in the first-quarter 2010.

Overall loan applications climbed 3% on a seasonally adjusted basis in MBA's survey -- which lags Freddie's data by one week. Refinance applications were 11 % higher, while the refinance share rose to 72% from two-thirds a week prior. Freddie predicted refinances will account for nearly two-thirds of fourth-quarter applications then taper off to 60% the next quarter.

Purchase applications were down 14% in MBA's survey -- to the lowest level since December 2000.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of in 2000.

[email protected]

Refinance News | Refinance Share Statistics
News about refinancing programs, pricing and production. Stories about the H o m e
Affordable Refinance Program, H A R P 2.0 and other Making Home Affordable coverage.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders