Fannie Mae’s monthly US Home Purchase Sentiment Index™ (HPSI) increased 1.6 points from the previous month and 1 point from the previous year to 85.3 in May. That’s an all-time high for the survey of homeowners and renters. Continue reading Homebuyer confidence at an all-time high
Mortgage rates are expected to go down this first quarter of 2016. Although the Federal Reserve raised rates in December, markets continue to reflect reduced rates for 15- and 30-year mortgages, according to CNN Money.
by Kathryn Vasel
CNNMoney (New York)
“This is evidence that the Federal Reserve isn’t the sole determinant of U.S. mortgage rates,” said Mark Hamrick, senior economic analyst at Bankrate.
The 30-year mortgage rate fell to 3.79%, the fourth straight week of declines, according to Freddie Mac. A year ago, the rate averaged 3.66%.
The rate on a 15-year fixed mortgage also dropped to 3.07%.
Continue reading Mortgage Rates Going Down