Month in review.

Position:LOAN RATE MONITOR - Forecast and trends of mortgages - Statistical data
 
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As the latest winter storm wreaks havoc in the Northeast, mortgage rates start to look coolly optimistic. Mortgage rates have improved across the board since the beginning of January. In early February 2014, the average annual percentage rate (APR) on a 30-year fixed-rate mortgage (FRM) conforming plunged down to 4.32%, the lowest since November 2013. Moreover, the 30-year FRM jumbo had an average rate of 4.09%, down approximately 0.25% in rate since the beginning of 2014. The drop in mortgage-backed security (MBS) purchasing by the Federal Open Market Committee (FOMC), which started in January 2014, was expected to push rates gradually higher. Nonetheless, a cooling-off in consumer spending, manufacturing activity slowing down and a recent dive in stocks have counterbalanced the FOMC action.

Assumptions One -point option on a 60-day rate lock Rates based on Informa Research Services' Index of Maior National Lenders

Copyright 2014 Informa Research Services Inc., Calabasas, California

MONTHLY AVERAGES 29-MAR 30-APR 31-MAY 28-JUN 31-JUL 15-Year Fixed Conforming 2.930 2.673 3.167 3.626 3.682 30-Year Fixed Conforming 3.674 3.437 3.975 4.430 4.586 30-Year Fixed Jumbo 3.747 3.523 3.951 4.375 4.522 5/1 ARM Conforming 2.867 2.845 2.872 3.095 3.147 5/1 ARM Jumbo 2.847 2.772 2.832 3.004 2.981 MONTHLY AVERAGES 30-AUG 30-SEP 31-OCT 27-NOV 31-DEC 15-Year Fixed Conforming 3.678 3.459 3.395 3.518 3,761 30-Year Fixed Conforming 4,614 4.284 4.169 4.413 4.644 30-Year Fixed Jumbo 4.523 4.178 4.019 4.115 4.330 5/1 ARM...

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