Mortgage Rates Little Changed

Mortgage Rates Little Changed
 

Mortgage Rates Little Changed

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) showing average fixed mortgage rates moving just slightly lower following three consecutive weeks of increases.

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) average 30-year fixed rate mortgages averaged 3.84 percent, down slightly from last week when it averaged 3.85 percent. A year ago at this time, the 30-year FRM averaged 4.14 percent.

15-Year Fixed Rate Mortgages

The average 15-year fixed rate mortgage averaged 3.05 percent, down from last week when it averaged 3.07 percent. A year ago at this time, the 15-year FRM averaged 3.25 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) averaged 2.88 percent, down slightly from last week when it averaged 2.89 percent. A year ago, the 5-year ARM averaged 2.96 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM is at 2.51 percent, up from last week when it averaged 2.48. At this time last year, the 1-year ARM averaged 2.43 percent.

Contact a licensed mortgage loan professional to take advantage of mortgage rates while they are still historically low. Find a loan officer near you or apply online for a mortgage loan and we will redirect your application to a qualified loan professional near you.

Attributed to Len Kiefer, deputy chief economist, Freddie Mac:

“Mortgage rates were little changed this week amid positive housing news. Housing starts [PDF] surged 20.2 percent to a seasonally adjusted pace of 1.14 million units in April, the highest level since 2007. As homebuying season moves into full swing, home builders remain positive about home sales in the near future. Although the NAHB housing market index slipped 2 points to 54 in May it is still above 50, indicating that on balance builders remain optimistic about housing markets.”

Original Source: Freddie Mac interest rates listed above are national averages as reported by Freddie Mac. Individual interest rates are dependent upon credit approval and may include points. Average mortgage points are also reported in Freddie Mac’s Primary Mortgage Market Survey. Other mortgage financing fees may apply. Contact your lender for detailed information.

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Mortgage Lender in 2013 as well as 2012 by Scotsman Guide. Inlanta was also recently named a Top Workplace in 2014 as well as in 2012. Inlanta has also been named one of the “Top 100 Mortgage Companies in America” in 2011, 2012 and 2013 and one of the 50 Best Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016

Mortgage Rates Higher for Third Consecutive Week

Mortgage Rates Move Higher
 

Mortgage Rates Higher for Third Consecutive Week

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) showing average fixed mortgage rates following 10-year Treasury yields higher and rising for the third consecutive week. At 3.85 percent, the average 30-year fixed-rate mortgage is just below the high for 2015.

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) average 30-year fixed rate mortgages averaged 3.85 percent, up from last week when it averaged 3.80 percent. A year ago at this time, the 30-year FRM averaged 4.20 percent.

15-Year Fixed Rate Mortgages

The average 15-year fixed rate mortgage averaged 3.07 percent, up from last week when it averaged 3.02 percent. A year ago at this time, the 15-year FRM averaged 3.29 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) averaged 2.89 percent, down from last week when it averaged 2.90 percent. A year ago, the 5-year ARM averaged 3.01 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM is at 2.48 percent, up from last week when it averaged 2.46. At this time last year, the 1-year ARM averaged 2.43 percent.

Contact a licensed mortgage loan professional to take advantage of mortgage rates while they are still historically low. Find a loan officer near you or apply online for a mortgage loan and we will redirect your application to a qualified loan professional near you.

Attributed to Len Kiefer, deputy chief economist, Freddie Mac:

“Mortgage rates rose for the third consecutive week as 10-year Treasury yields continued to climb. The labor market continues to improve with U.S. economy adding 223,000 jobs in April, a solid rebound from merely 85,000 job gains in March. Also, the unemployment rate [PDF] dipped to 5.4 percent in April as the participation rate ticked up to 62.8 percent and jobless claims were far less than expected.”

Original Source: Freddie Mac interest rates listed above are national averages as reported by Freddie Mac. Individual interest rates are dependent upon credit approval and may include points. Average mortgage points are also reported in Freddie Mac’s Primary Mortgage Market Survey. Other mortgage financing fees may apply. Contact your lender for detailed information.

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Mortgage Lender in 2013 as well as 2012 by Scotsman Guide. Inlanta was also recently named a Top Workplace in 2014 as well as in 2012. Inlanta has also been named one of the “Top 100 Mortgage Companies in America” in 2011, 2012 and 2013 and one of the 50 Best Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016

What is TRID?

TRID

What is TRID?

TRID stands for TILA-RESPA Integrated Disclosure. TILA stands for Truth in Lending Act, and RESPA stands for the Real Estate Settlement Procedures Act. That still doesn’t answer your question, does it? So, what is TRID?

TRID refers to the new integrated disclosures for real estate transactions implemented by the Consumer Finance Protection Bureau (CFPB).  On August 1st of 2015, the CFPB is consolidating existing mortgage disclosures from four forms, to two forms. The CFPB is integrating the Good Faith Estimate (GFE) and Early Truth in Lending (TIL) into one document called the Loan Estimate (LE). The HUD-1 and Final TIL will be integrated into one document called the Closing Disclosure (CD).

TRID Effective Date

The newly created TRID disclosures will apply to most closed-end consumer loans for which an application is received on or after August 1st.

What TRID Means for Consumers

TRID will reduce paper work and consumer confusion by using clear language meant to help consumers better understand the complicated mortgage loan process. The new forms will highlight information that consumers have indicated are most important including: interest rate, monthly payment and total closing costs. TRID will also provide more information on the cost of taxes and insurance and how interest rate and payments may change in the future. The TRID will also make cost estimates consumers received for services required to close the loan more reliable and require mortgage lenders to provide the CD three business days before closing on mortgage loans. Visit the CFPB website to read What the new simplified mortgage disclosures mean for consumers

How TRID Will Affect Realtors

One aspect of the new integrated disclosures rules that will affect Realtors is that there are new time-sensitive delivery requirements for Closing Disclosures. The consumer must receive the Closing Disclosure a minimum of three business days before closing (date note is signed). In addition, there are certain changes to the loan file that can require a re-disclosure and a new 3-day minimum waiting period – changes to APR, loan product or the addition of pre-payment penalties are examples. Watch this video posted on the National Association of Realtors website: TRID Changes Coming.

Additional TRID Resources

CFPB Webinars

Additional Resources

We are here to help if you have further questions. Please email info@inlanta.com if you have specific questions about TRID and its implementation.

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Mortgage Lender in 2013 as well as 2012 by Scotsman Guide. Inlanta was named a Top Workplace in 2014 as well as in 2012. Inlanta has also been named one of the “Top 100 Mortgage Companies in America” in 2011, 2012 and 2013 and one of the 50 Best Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016

 

Mortgage Rates Move Higher

Mortgage Rates Up
 

Mortgage Rates Move Higher

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) showing average fixed mortgage rates following 10-year Treasury yields higher.

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) average 30-year fixed rate mortgages averaged 3.80 percent, up from last week when it averaged 3.68 percent. A year ago at this time, the 30-year FRM averaged 4.21 percent.

15-Year Fixed Rate Mortgages

The average 15-year fixed rate mortgage averaged 3.02 percent, up from last week when it averaged 2.94 percent. A year ago at this time, the 15-year FRM averaged 3.32 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) averaged 2.90 percent, up from last week when it averaged 2.85 percent. A year ago, the 5-year ARM averaged 3.05 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM is at 2.46 percent, down from last week when it averaged 2.49. At this time last year, the 1-year ARM averaged 2.43 percent.

Contact a licensed mortgage loan professional to take advantage of mortgage rates while they are still historically low. Find a loan officer near you or apply online for a mortgage loan and we will redirect your application to a qualified loan professional near you.

Attributed to Len Kiefer, deputy chief economist, Freddie Mac:

“Mortgage rates rose this week to the highest level since the week of March 12 as a selloff in German bonds helped drive U.S. Treasury yields above 2.2 percent. The U.S. trade deficit reached $51.4 billion in March to the highest level since 2008. Also, the Institute for Supply Management’s manufacturing index was unchanged in April, but manufacturing employment contracted as the index fell below 50 for the first time since May 2013.”

Original Source: Freddie Mac interest rates listed above are national averages as reported by Freddie Mac. Individual interest rates are dependent upon credit approval and may include points. Average mortgage points are also reported in Freddie Mac’s Primary Mortgage Market Survey. Other mortgage financing fees may apply. Contact your lender for detailed information.

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Mortgage Lender in 2013 as well as 2012 by Scotsman Guide. Inlanta was also recently named a Top Workplace in 2014 as well as in 2012. Inlanta has also been named one of the “Top 100 Mortgage Companies in America” in 2011, 2012 and 2013 and one of the 50 Best Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016

Mortgage Rates Up on Mixed Economic and Housing Data

Mortgage Rates Up on Mixed Data
 

Mortgage Rates Up on Mixed Economic and Housing Data

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) showing average fixed mortgage rates slightly higher amid mixed housing and economic reports.

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) average 30-year fixed rate mortgages averaged 3.68 percent, up from last week when it averaged 3.65 percent. A year ago at this time, the 30-year FRM averaged 4.29 percent.

15-Year Fixed Rate Mortgages

The average 15-year fixed rate mortgage averaged 2.94 percent, up from last week when it averaged 2.92 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) averaged 2.85 percent, up slightly from last week when it averaged 2.84 percent. A year ago, the 5-year ARM averaged 3.05 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM is at 2.49 percent, up from last week when it averaged 2.44. At this time last year, the 1-year ARM averaged 2.45 percent.

Contact a licensed mortgage loan professional to take advantage of mortgage rates while they are still historically low. Find a loan officer near you or apply online for a mortgage loan and we will redirect your application to a qualified loan professional near you.

Attributed to Len Kiefer, deputy chief economist, Freddie Mac:

“Mortgage rates were up slightly following a week of mixed economic releases. Real GDP grew at a paltry 0.2 percent annualized rate in the first quarter of 2015, well below expectations. However, the National Association of Realtors’ pending home sales index rose 1.1 percent in March for the third consecutive month. The S&P/Case-Shiller National House Price Index [PDF] also rose 5.0 percent in February on a yearly basis.”

Original Source: Freddie Mac interest rates listed above are national averages as reported by Freddie Mac. Individual interest rates are dependent upon credit approval and may include points. Average mortgage points are also reported in Freddie Mac’s Primary Mortgage Market Survey. Other mortgage financing fees may apply. Contact your lender for detailed information.

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Mortgage Lender in 2013 as well as 2012 by Scotsman Guide. Inlanta was also recently named a Top Workplace in 2014 as well as in 2012. Inlanta has also been named one of the “Top 100 Mortgage Companies in America” in 2011, 2012 and 2013 and one of the 50 Best Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016