Stronger economy boosts mortgage rates: Freddie Mac

Wells Fargo cements DeVito’s role as head of home lending SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE: WFC) announced today that Michael DeVito has been named head of Wells Fargo Home Lending, a role he has held on an interim basis since November 2017. DeVito will report to Mary Mack, head of Community Banking and Consumer Lending.

Freddie Mac said it expects 30-year mortgage rates to average 6.8 percent for the remainder of 2006, and for gross domestic product to grow 3.5 percent this year, slowing to a 3.3 percent advance.

Freddie Mac’s baseline economic forecast has the U.S. economy continuing to grow with gradual increases in interest rates, and home sales should post modest growth over the next two years. Supply.

GSE rep and warrant relief tools will improve underwriting: Fitch FHFA and the Enterprises have engaged in a multi-year effort since 2012, to improve the Representation and Warranty Framework (Framework). Prior to this effort, the Enterprises had significant discretion to determine whether or not a loan had underwriting defects and what constituted an appropriate remedy for a defective loan.

Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage dropped to 4.14% from 4.20% last week. By contrast, a year ago the benchmark rate stood at 4.55%.

Protesters Demand GSE Principal Reduction On the issue of principal write-downs for GSE mortgages, Miller defended embattled federal housing finance Agency Acting Director Ed DeMarco, saying while some write-downs may be valuable on a.

In a boost to buyers, US long-term mortgage rates drop – WASHINGTON (AP) – US long-term mortgage rates fell this week after four weeks of increases, giving a boost to prospective home buyers during the spring sales season. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed-rate mortgage dropped from 4.2 percent last week to 4.14 percent.

Ocwen’s 1Q loss due to lower interest rates affecting its MSRs We continued to work with our sub-servicers to lower advance. affected by a rise in interest rates and are contingent on the level of delinquencies and outstanding advances in each transaction,

Good news everyone, America’s robust economy is still projected to strengthen the nation’s housing market throughout 2019, according to Freddie Mac’s May Forecast. "Our outlook for the housing market remains largely unchanged," Freddie Mac Chief Economist Sam Khater said. "We still expect stronger home sales and housing starts in the coming months due to favorable market conditions.

We forecast the 30-year fixed-rate mortgage rate will average 4.6 percent in 2018, increasing to 5.1 percent in 2019 and 5.6 percent in 2020. A moderation in the rate of increase in mortgage rates may be just enough to let the housing market catch its breath and resume growth.

Freddie Mac reports the 30-year fixed-rate mortgage (frm) averaged 4.46% this week with an average 0.8 point. That’s a surge of 53 basis point from last weeks reading of 3.93% — the largest.

Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages ticked up to an average 4.86 percent this week from 4.85 percent last week. A year ago, it stood at 3.94 percent.

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Freddie Mac’s Economic Research Group says in its January forecast that much of the volatility in the mortgage market since the end of the year has arisen out of speculation about the Federal.

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