Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon.
- According to The Primary Mortgage Market Survey® from Freddie Mac, the 30-year FRM this week sits at 6.71% and the 15-year FRM at 6.06%.
- As of June 23, 2023, mortgage applications had increased by 3%, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association (MBA). This represents the third straight week of increases.
- “Mortgage rates have hovered in the 6% to 7% range for over six months and, despite affordability headwinds, homebuyers have adjusted and driven new-home sales to their highest level in more than a year,” said Sam Khater, Freddie Mac’s chief economist.
- Per CoreLogic, adjustable rate mortgages (ARMs) made up 18.6% of single-family mortgages in April 2023, a quadrupling compared to January 2021.
A conflict between mortgage servicers kicked off this week when LoanDepot sued Movement Mortgage for allegedly “poaching” 25 LoanDepot employees in a violation of the Defend Trade Secrets act.
