Rocket Pro TPO is the first company to raise the national conforming loan limit, up from $766,550 to $802,650. The new limit for Alaska and Hawaii is $1,203,975. Buyers can now access 2025’s limits for conforming loans, which could mean less money down, more cash out, or better pricing for clients who need loans above…
Mortgage rates hit an 18-month low as new inflation data solidified a quarter-point rate cut at the next FOMC meeting. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.20%, down 15 bps from the week prior. This is its lowest point since February 2023. A year ago at this time, the…
Former PNC exec Diana Reid has been selected by Freddie Mac’s Board of Directors to serve as the company’s new CEO. “It is an honor to join Freddie Mac and lead the company as it carries out its vital role in the housing finance market,” Reid said. “I look forward to working with the Board,…
Mortgage rates held steady last week as markets awaited the release of the highly anticipated August jobs report. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.35%, the same as last week. A year ago at this time, the 30-year FRM averaged 7.12%. The 15-year fell from 5.51% to 5.47%. A…
Mortgage rates slipped more than 10 basis points last week as the market anticipates a rate cut from the Central Bank in the coming weeks. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.35%, plunging from the week prior’s 6.46%. A year ago at this time, the 30-year FRM averaged 7.18%….
Mortgage rates dipped slightly last week and analysts expect them to gradually descend further through the year. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.46%, dipping from the week prior’s 6.49%. A year ago at this time, the 30-year FRM averaged 7.23%. The 15-year also fell from 5.66% to 5.62%….
Mortgage rates moved up marginally last week but remain at their lowest point in a year. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.49%, up from the week prior’s 6.47%. A year ago at this time, the 30-year FRM averaged 7.09%. The 15-year also rose to 5.66% from 5.63%. A…
Mortgage applications soared last week as weakening rates encouraged an explosion of refinances, plus slightly better purchase activity. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 16.8%, adding to a 6.9% increase the week prior. Adjusted purchase applications rose…
Mortgage rates dipped to their lowest level since early this year as analysts firm up their opinions on a September rate cut from the Central Bank. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.73%, down from the week prior’s 6.78%. A year ago at this time, the 30-year FRM averaged…
Mortgage rates ticked up just slightly last week, staying essentially the same after a weeks-long slide. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.78%, up 1 bps from the week prior’s 6.77%. A year ago at this time, the 30-year FRM averaged 6.81%. The 15-year also rose to 6.07% from…
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