Freddie Mac: Mortgage rates posts little change

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Fannie Mae and Freddie Mac are the two government-sponsored enterprises (GSE) working to expand home ownership across the country. For several years now the housing market has been booming, due to increased opportunity through entities like the two GSEs, pricing, and other factors.

 · Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year mortgage ticked up this week to 3.84% from 3.82% last week..

Bankrate data also shows mortgage rates "showed little movement" over the past week. The Bankrate 30-year, FRM rose to 3.80% this week, up from 3.79% a week earlier.

 · A conventional refinance is any refinance loan that conforms to guidelines set by Fannie Mae or Freddie Mac. This type of refinance is available with as little as 3% equity with the 97% conventional refinance program.. For a conventional refinance the lender requires an appraisal and documentation regarding the borrower’s income and assets.

"Mortgage rates were relatively unchanged following a mixed employment report for July," said Frank Nothaft, vice president and chief economist, Freddie Mac. "Even though the unemployment rate fell to 7.4 percent in July, which was the lowest since December 2008, the economy added only 161,000 jobs, short of the market consensus forecast.

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Freddie Mac surveys lenders each week on the rates, fees and points for the most popular mortgage products. average Mortgage Rates as of July 18, 2019 Get Weekly Rates

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Fixed mortgage rates didn’t go down much, but they did go down for the fourth week in a row. According to the latest data released Thursday by Freddie Mac, the 30-year fixed. Committee meeting -.

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2019 Mortgage Rate Trends  · ARMs can have minimum and maximum interest rate amounts; 5/1 ARM can be great for short-term purchases; What is a 5/1 ARM? A 5/1 ARM (Adjustable Rate Mortgage) combines elements of a fixed rate loan and an ARM, so let’s recap those two loans first. Fixed Rate Loan – A loan where the interest rate will stay the same during the life of the loan.