Discount points

Mortgage Rates Continue to Decrease

Retrieved on: 
Thursday, July 15, 2021
Mortgage, Finance, Money, Loans, Mortgage loan, Economy, Commitment rate, Fixed-rate mortgage, Discount points, Second mortgage, Subprime mortgage crisis

The summer swoon in mortgage rates continues as the 30-year fixed-rate mortgage fell for the third consecutive week, said Sam Khater, Freddie Macs Chief Economist.

Key Points: 
  • The summer swoon in mortgage rates continues as the 30-year fixed-rate mortgage fell for the third consecutive week, said Sam Khater, Freddie Macs Chief Economist.
  • Since their peak at 3.18% in April, mortgage rates have declined by thirty basis points.
  • 15-year fixed-rate mortgage averaged 2.22 percent with an average 0.6 point, down from last week when it averaged 2.20 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Continue to Move Down

Retrieved on: 
Thursday, July 8, 2021
Mortgage, Money, Finance, Economy, Mortgage loan, Refinancing, Discount points, Fixed-rate mortgage, Second mortgage, Subprime mortgage crisis

Mortgage rates decreased this week following the dip in U.S. Treasury yields.

Key Points: 
  • Mortgage rates decreased this week following the dip in U.S. Treasury yields.
  • We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover around three percent.
  • 15-year fixed-rate mortgage averaged 2.20 percent with an average 0.7 point, down from last week when it averaged 2.26 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Consumers Increasingly Adamant That It's a Good Time to Sell, Bad Time to Buy a Home

Retrieved on: 
Wednesday, July 7, 2021
Financial law, Financial risk, Discount points, Economy

The "Good Time to Buy" and "Good Time to Sell" components once again produced the most notable results.

Key Points: 
  • The "Good Time to Buy" and "Good Time to Sell" components once again produced the most notable results.
  • "Consumers also continued to cite high home prices as the predominant reason for their ongoing and significant divergence in sentiment toward homebuying and home-selling conditions.
  • As a result, the net share of those who say it is a good time to buy decreased 11 percentage points month over month.
  • We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk.

Filo Mortgage Announces 1.99% 15-Year Rate with No Points for Purchases

Retrieved on: 
Wednesday, June 30, 2021
Banking, Other Construction & Property, Professional services, Residential Building & Real Estate, Construction & Property, Finance, Money, Financial services, Mortgage, Loans, Banking, Mortgage loan, Origination fee, Discount points, Second mortgage, Mortgage industry of the United States

Fast growing lender Filo Mortgage is now offering a 1.99% (1.99% APR) mortgage rate with no points and no origination fees for 15-year conventional term purchase loans.

Key Points: 
  • Fast growing lender Filo Mortgage is now offering a 1.99% (1.99% APR) mortgage rate with no points and no origination fees for 15-year conventional term purchase loans.
  • Filo Mortgage continues to be a leader in low rate mortgages with no points.
  • On 30-year conventional terms, Filo Mortgage is offering qualified applicants purchase loan rates as low as 2.625% (2.625% APR) with no points and no origination fees.
  • Filo Mortgage founder and co-CEO Jeffrey Frutkin said, We want to spread the word that you can get a very low rate with no points for your new home loan.

Mortgage Rates Inch Up But Stay Below Three Percent

Retrieved on: 
Thursday, June 3, 2021
Mortgage, Money, Finance, Loans, Mortgage loan, Economy, Fixed-rate mortgage, Discount points, Second mortgage

There are many potential homebuyers who would like to take advantage of low mortgage rates, but competition is strong.

Key Points: 
  • There are many potential homebuyers who would like to take advantage of low mortgage rates, but competition is strong.
  • 30-year fixed-rate mortgage averaged 2.99 percent with an average 0.6 point for the week ending June 3, 2021, up from last week when it averaged 2.95 percent.
  • 15-year fixed-rate mortgage averaged 2.27 percent with an average 0.6 point, unchanged from last week.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Drop Below Three Percent

Retrieved on: 
Thursday, May 27, 2021
Mortgage, Finance, Money, Economy, Loans, Personal finance, Refinancing, Mortgage loan, Discount points, Commitment rate, Fixed-rate mortgage, Second mortgage

Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow, said Sam Khater, Freddie Macs Chief Economist.

Key Points: 
  • Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow, said Sam Khater, Freddie Macs Chief Economist.
  • In fact, homeowners who refinanced their 30-year fixed-rate mortgage in 2020 saved more than $2,800 dollars annually.
  • 15-year fixed-rate mortgage averaged 2.27 percent with an average 0.6 point, down from last week when it averaged 2.29 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Mortgage Rates Stay Under Three Percent

Retrieved on: 
Thursday, April 29, 2021
Mortgage, Money, Finance, Economy, Mortgage loan, Fixed-rate mortgage, Discount points, Refinancing, Second mortgage

\xe2\x80\x9cThe good news is that with rates under three percent, refinancing continues to be attractive for many borrowers who financed before 2020.

Key Points: 
  • \xe2\x80\x9cThe good news is that with rates under three percent, refinancing continues to be attractive for many borrowers who financed before 2020.
  • A year ago at this time, the 30-year FRM averaged 3.23 percent.\n15-year fixed-rate mortgage averaged 2.31 percent with an average 0.7 point, up from last week when it averaged 2.29 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.
  • Borrowers may still pay closing costs which are not included in the survey.\nFreddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.

Discover Financial Services Reports First Quarter Net Income of $1.6 Billion or $5.04 Per Diluted Share

Retrieved on: 
Wednesday, April 21, 2021
Banking, Professional services, Finance, Money, Finance, Economy, Mortgage, Credit card, Discount points, Economic impact of the COVID-19 pandemic

Net interest margin was 10.75%, up 54 basis points versus the prior year period.

Key Points: 
  • Net interest margin was 10.75%, up 54 basis points versus the prior year period.
  • The credit card net charge-off rate was 2.80%, down 85 basis points from the prior year and up 17 basis points from the prior quarter.
  • The student loan net charge-off rate was 0.53%, down 15 basis points from the prior year and down 18 basis points from the prior quarter.
  • The first quarter of 2021 included an $879 million reserve release, compared to a reserve build of $1.1 billion in the first quarter of 2020.

Canadians looking to ditch fees and earn points on banking

Retrieved on: 
Tuesday, March 30, 2021
Finance, Money, Economy, Mortgage, Bank, Economic history of Italy, Discount points, President's Choice Financial

A year into the pandemic, Canadians are re-evaluating their priorities for banking and money management

Key Points: 
  • A year into the pandemic, Canadians are re-evaluating their priorities for banking and money management
    TORONTO, March 30, 2021 /CNW/ - A new study from PC Financial shows that Canadians are worried about monthly banking fees and want to start earning loyalty points on spending.
  • "Four-in-five Canadians are planning or taking steps to better manage their finances since the pandemic began," says Barry Columb, President, PC Financial.
  • "With interest rates at all-time lows, the first thing they should do is stop paying hundreds of dollars annually on banking fees and upgrade to a no-fee account that also rewards them with points on purchases."
  • We have no monthly fees and we give people points for setting up their bill payments."

Mortgage Rates Jump Up

Retrieved on: 
Thursday, March 25, 2021
Mortgage, Finance, Money, Economy, Fixed-rate mortgage, Mortgage loan, Commitment rate, Freddie Mac, Discount points

MCLEAN, Va., March 25, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.17 percent.

Key Points: 
  • MCLEAN, Va., March 25, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.17 percent.
  • Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power.
  • 15-year fixed-rate mortgage averaged 2.45 percent with an average 0.6 point, up from last week when it averaged 2.40 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.