“For context, during the 2006 downturn the strongest single-month slowing was 1.19 percentage points – about what we saw last month – and June topped that by 66%,” said Black Knight Data & Analytics President Ben Graboske. Annual home price growth fell from 19.3% to 17.3% between May and June.
Home price growth saw the largest single-month slowdown on record since at least the 1970s in June, coinciding with a huge increase in inventory, according to Black Knight’s most recent Mortgage Monitor Report. “The high uncertainty surrounding inflation and other factors will likely cause rates to remain variable, especially as the Federal Reserve attempts to navigate the current economic environment.” Recession fears are adding to a dip in homebuyer demand spurned on… Posted in Featured, Industry News Tagged FHFA, Freddie Mac, Housing Report, Housing Slowdown, Interest Rates, Mortgage News, Mortgage Rates, Nerdwallet, Recession Leave a Comment on Rates Fall Below 5% For The First Time Since April Home Price Growth Stalls As Inventory Rebounds “Mortgage rates remained volatile due to the tug of war between inflationary pressures and a clear slowdown in economic growth,” said Sam Khater, Freddie Mac’s Chief Economist. Last week it averaged 5.30%, and a year ago at this time, the 30-year FRM averaged 2.77%. Freddie’s Primary Mortgage Market Survey (PMMS) found that the 30-year fixed-rate mortgage (FRM) averaged 4.99%.
#Pmms freddie mac mac#
Mortgage rates nosedived by 31 basis points last week, dropping below 5% for the first time since April, Freddie Mac reported Thursday. His past experience includes CEO of Common Securitization Solutions, LLC, a joint venture of Fannie Mae and Freddie Mac Homeward Residential, Radian Mortgage Insurance, and GMAC Mortgage and Bank.… Posted in Company News Tagged Cenlar, Cenlar FSB, Dave Applegate, Fannie Mae, FHFA, Freddie Mac, Greg Tornquist, James Daras, Jim Daras, Mortgage News, Rob Lux, Robert Lux Leave a Comment on Dave Applegate To Replace Greg Tornquist As Cenlar Board Chairman Rates Fall Below 5% For The First Time Since April Applegate has been a board member since 2020 and brings three decades of experience in real estate, mortgage banking, and housing finance to the role of Chairman. James Daras, who will also serve as president.
At the same time, EVP and COO Robert Lux has been named co-CEO with Dr. He is replacing former Chairman of the Board, President, and CEO Greg Tornquist, who is retiring. Loan subservicer and wholesale bank Cenlar FSB has appointed Dave Applegate as Chairman of the Board of Directors, the company announced in a press release. As a result, over the rest… Posted in Industry News Tagged FHFA, Freddie Mac, Home Sellers, Homebuyers, housing inventory, Housing Report, Interest Rates, Mortgage Demand, Mortgage News, Mortgage Rates, Purchase Demand Leave a Comment on Rates Fall To 5.13% Dave Applegate To Replace Greg Tornquist As Cenlar Board Chairman “The market continues to absorb the cumulative impact of the large price and rate increases that led to a plunge in affordability. “Inflation appears to be beyond its peak, which has stopped the rapid increase in mortgage rates that the housing market was experiencing earlier this year,” said Sam Khater, Freddie Mac’s Chief Economist. A year ago at this time, the 30-year FRM averaged 2.86%. Freddie’s Primary Mortgage Market Survey (PMMS) found that the 30-year fixed-rate mortgage (FRM) averaged 5.13%, following a rollercoaster couple of weeks that saw both a 30-point rate decrease and a 20-point increase. Mortgage rates dropped to an average 5.13% last week from 5.22% the week prior, Freddie Mac reported Thursday.
0 kommentar(er)
