Tag Archives: Interest Rates

Residential Mortgage Rates Hit All-Time Record Lows

Freddie Mac’s weekly Primary Mortgage Market Survey (PMMS) hit an all-time record low for 30-year, conventional, fixed-rate residential mortgage loans, sinking to 3.07 percent for the week of July 3rd, 2020, down from 3.75 percent one-year ago.   That would have reduced the month principal and interest payment on a $200,000 loan from $926.24 (3.75 percent) …Read more

Forecasting is Difficult, Especially the Future: — Housing Sales, Interest Rates, Home Prices and Lending 2020-2021

Forecasting is difficult, especially the future, is a small bit of economist humor that embodies more truth than may be appreciated.   While ongoing trends are easy to forecast by just continuing the line or general direction of sales-interest rates-prices-jobs or any other economic factor, the difficulty arises in anticipating or predicting the events(s) that alter …Read more

Residential Lending Forecast 2019 & 2020 as of July 2019

As the Federal Reserve’s Open Market Committee prepares to meet today, interest rates and where they are likely going are making headlines.  Interest rates make up part of the throttle linkage for residential lending.  Shown in the table is the latest forecast for 30-year conventional mortgage rates as reported by Fannie Mae, Freddie Mac and …Read more