Vantagescore President and CEO Sylvio Thawres joins ‘The Claman Countdown’ to discuss the decision of the Federal Housing Finance Agency, which allows Vantagskore 4.0 for the hostage sold to Fanny Mai and Freddy Mac.
Mortgage rates This week, posting the biggest weekly decline in the last one year, hostage buyer Freddy Mac said on Thursday.
Freddy Mac’s latest primary mortgage market survey, released on Thursday, showed average rate on benchmark 30-year fixed mortgage 6.5% reading last week fell to 6.35%.
The average rate on a 30 -year loan was 6.2% a year ago.
Freddy Mac’s chief economist Sam Khatar said, “The mortgage rates are in the right direction and the homebuilders have seen, as the purchase applications have reached the highest year-to-year growth rate in more than four years.”
The hostage rates recorded their biggest weekly decline in the last one year, Freddy Mac said on Thursday. (Photographer: Loren Elliott / Bloomberg Getty Embolce / Getty Image)
Only 28% of American homes now buy cheap power drops for cheap American domestic homes
The average rate on the 15-year fixed mortgage fell to 5.5% from reading 5.6% last week. A year ago, the rate on the 15-year fixed note was 5.27%on average.
During this time, Increase in mortgage applications According to the Horticulture Bankers Association, 9.2%last week. The increase in MBA index is the most marked in more than three years, up to 297.7. The increase was led to an increase of 12.2% in index tracking applications to refinance a mortgage in about a year. The MBA said that the refinance applications calculated about half of all the applications last week.
Freddy Mac said the average rate fell to 5.5%on a 15 -year fixed mortgage. (Al Drago / Bloomberg Getty Image / Getty Image)
Index tracking Loan for property purchase In about two months, he grew by 6.6% to his highest.
The housing market has been in a long recession due to high lending costs, high property prices and limited supply of houses on the market, but recent data shows that the worst can be the worst for the worst area. The supply of existing houses for sale is steadily increasing, the annual value has begun to increase, and the interest rates now appear ready for further ease. Fed looks ready To shift the gear to cut rates at the beginning of next week.
Get Fox Business when you click here
The Central Bank has stabilized its benchmark rate at 4.25% -TO -4.50% from last December, on anxiety that President Donald Trump’s aggressive tariff inflation will promote a provocation.
Reuters contributed to this report
