Freddie Mac raises origination forecast based on lower rates, more refis

Freddie Mac raises mortgage forecast based on lower rates, more refs By Brad Finkelstein nationalmortgagenews.com – Freddie Mac increased its origination forecast for 2019 by nearly 4% from last month as lower interest rates will result in more borrowers refinancing than previously expected.

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 · The average rate on a 30-year, fixed-rate mortgage fell to a record low 4.19 percent earlier this month, down from this year’s high of 5.21 percent in April, according to McLean, virginia-based freddie mac. compared with a year earlier, existing home sales were down 19 percent in September, the National Association of Realtors said yesterday.

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Freddie Mac raises origination forecast based on lower rates, more refis . Freddie Mac raises origination forecast based on lower rates, more refis . Freddie Mac increased its origination forecast for 2019 by nearly 4% from last month as lower interest rates will result in more borrowers refinancing than previously expected.

Slower price growth helps homebuyers, hurts underwater mortgages With mortgage rates as low as they are, what’s holding back the housing market this spring?. As March fades into April this week, the traditional homebuying season should be fully underway. But is it? Spring traditionally plays host to hordes of eager homebuyers for a few reasons:

Rising rents are pushing more tenants past the breaking point. eviction rates were higher in metropolitan areas hit hard by the foreclosure crisis, Salviati said.. Freddie Mac raises origination forecast based on lower rates, more refis. April 30

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Freddie Mac Raises Origination Forecast Based on Lower Rates, More refis. national mortgage news, Apr. 30, 2019–Brad Finkelstein (subscription) Freddie Mac increased its origination forecast for 2019 by nearly 4% from last month as lower interest rates will result in more borrowers refinancing than previously expected.

Equity-rich properties rise as fewer go underwater Slower price growth helps homebuyers, hurts underwater mortgages With mortgage rates as low as they are, what’s holding back the housing market this spring?. As March fades into April this week, the traditional homebuying season should be fully underway. But is it? Spring traditionally plays host to hordes of eager homebuyers for a few reasons:As more homeowners decide to age in place, the amount of equity-rich properties continues to rise, according to Attom Data Solutions. Equity-rich homes – those with a loan-to-value ratio of 50% or lower – totaled nearly 14.6 million in the fourth quarter of 2018, up from 13.7 million the year prior and an edge up [.]

 · Traders predict the Federal Open Market Committee, meeting today in Washington, will lower the overnight lending rate by a full percentage point or more, based on futures prices in Chicago. That would be the biggest reduction since 1984, when Paul Volcker led the central bank, and would bring the benchmark rate down to 2 percent.

THE IMPACT OF HIGHER INTEREST RATES ON THE MORTGAGE MARKET 3 FIGURE 2 As Interest Rates Have Risen, Most of the Mortgage Universe Is Nonrefinanceable Sources: eMBS, Freddie Mac Primary Mortgage Market Survey, and the Urban Institute. This may overstate the refinanceability of the current market because rates have been so low for so

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