The prices of mortgage loans remained largely stable, and even fell slightly, as investor jits about a brake economy and geopolitics continued to keep bonds attractive.
The 30-year fixed-rate loan amounted to 3.82% in June 1
The 15-year fixed-rate loan averaged 3.26%, down from 3.28%. The 5-year Treasury-indexed hybrid adjustable interest rate averaged 3.51%, down 1 basis point.
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Fixed-rate mortgages follow the path to the 10-year US government bond loan
who has tumbled as investors grow more concerned about the health of the economy and the possible effects of a long trade war. Meanwhile, inflation has remained tame. Markets and some analysts now predict that the Federal Reserve will cut interest rates this year.
Lower prices affect the housing market in unexpected ways. Demand for mortgages has been so robust that mortgage margins were positive for the first time in almost three years.
See: The average interest rate adjustment loan is nearly $ 700,000. Here is what tells us.
According to Fannie Maes Mortgage Lender Sentiment Survey for the second quarter, released Wednesday. The survey also found that for the first time in more than two years, a majority of lenders reported or expected to refinance volumes to increase.
Loan lenders are profitable or not, not just a concern for the industry. It has often been the case that lenders lower their standards as they become more hungry for income, including at the height of the housing bubble ten years ago. Fannie Mae said in her release of the lender's survey that "the meaningful relief of lending standards is one thing of the past."
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