Mortgage interest rates slide in FHFA December index

Looking back at the week, the biggest jump in rates came on Wednesday when the second-estimate for third quarter GDP came in above expectations. Financial market participants took that as a sign that a rate hike in December is a sure thing, and that more rate hikes in 2018 are a possibility.

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On an unadjusted basis, the index decreased 4% from last week. The Refinance Index dropped 5% from the previous week, the lowest since December. rate mortgage share of activity decreased to 6.7% of.

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Separately, the Federal Housing Finance Agency (FHFA) announced that the average interest rate on all mortgage loans in November was 4.82 percent, up from 4.72 in October. The average interest rate on conventional, 30-year, fixed-rate mortgages of $453,100 or less was 4.99 percent, up from 4.87 in October, while the effective interest rate on all mortgage loans was 4.91 percent, up from 4.81.

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Unlike the interest rate climate when we wrote the above, the more pronounced fall in first mortgage rates may change the equity-extraction equation a bit. At least some homeowners may be able to extract equity and lower the interest rate on their primary mortgage at the same time, so this combination should provide some lift for cash-out.

The bottom cable of this slide shows our spread exposures to rates up and down 25 and 50 basis points. As we’ve discussed in the past, MSR has negative duration and hedges both interest rate and.

A slide. fixed rates decreased from 4.07% to 4.04% in the week, while up from last year’s 3.36%. The average fee held steady at 0.3 points. Mortgage Bankers’ Association Rates for the week ending 7.

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The average interest rate on 15-year, fixed-rate loans of $417,000 or less decreased 44 basis points to 5.43 percent in December. Mortgage rates stabilized in the week ending 4 th March. 30-year fixed rates rose by 2 basis points following the 22 basis slide in the previous week. level since the 4 th quarter of 2016.

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