Weekly Mortgage Interest Rate Report May 28, 2015

Weekly Mortgage Interest Rate Report May 28, 2015

Week ending on 05/28/15 Interest Rate Points & Fees Margin  30 Year Fixed Rate 3.87% 0.6 N/A  15 Year Fixed Rate 3.11% 0.5 N/A  5/1-Year Adjustable Rate 2.90% 0.5 2.74  1 Year Adjustable Rate 2.50% 0.3 2.74

Data is provided by Freddie Mac's Primary Mortgage Market Survey® (PMMS)

This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24. Data is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey.

“Mortgage rates rose to the highest level in 2015 following positive housing market data. New home sales surged 6.8 percent to an annual pace of 517,000 units in April. Although existing home sales slipped 3.3 percent to a seasonally-adjusted pace of 5.04 million units, sales are up 6.1 percent on a year-over-year basis. The S&P/Case-Shiller 20-city home price index also posted a solid gain of 5 percent over the 12-months ending in March 2015.”

– Len Kiefer, deputy chief economist, Freddie Mac

August 1 TRID Changes. We are prepared and here to help!

BOOK A LUNCH & LEARN AT YOUR OFFICE!

Fairway Independent Mortgage is prepared for the August 1st TRID Changes! In order to better serve our Realtor Partners and Homebuyers, Fairway Corporate has been running a "TRID Simulator" on all transactions prior to the change going into effect. This allows for a smoother transition and more efficient turn-times!

We have been training all of our Loan Officers and some are getting extra training so that they are prepared to pass on their knowledge to your office!

VISIT www.TRIDtraining.com to request a training at your office!

The EDGE Event - Seats are going fast!

Seats are filling up rapidly for The EDGE Event Realtor® Business Building Mega Class! This is a FREE class outlining new ways to fill your pipeline and close more deals. Registration is fast and easy and your tickets are emailed to you instantly.

Also join us after for a Happy Hour Reception at the Scottsdale Plaza Resort where the class will be held.

Details and Registration at www.TheEdgeEvent.com

Arizona Cities Rank Among Most Balanced U.S. Housing Markets

Arizona Cities Rank Among Most Balanced U.S. Housing Markets

Homes selling at market value in 14 percent of markets

In the 315 counties studied there were 44 (14 percent) where homes on average sold for 100 percent of their estimated full market value — including Maricopa County, Arizona In the Phoenix metro area, Riverside County in inland Southern California, Montgomery County, Maryland in the Washington, DC metro area, Fulton County, Georgia in the Atlanta metro area, and Wake County, North Carolina in the Raleigh metro area.

READ MORE

Weekly Mortgage Interest Rate Report Week Ending May 14, 2015

Weekly Mortgage Interest Rate Report

Week Ending May 14, 2015

Data Provided by Freddie Mac's Primary Mortgage Market Survey®

Week ending on 05/21/15 Interest Rate Fees & Points Margin  30 Year Fixed Rate 3.84% 0.7 N/A  15 Year Fixed Rate 3.05% 0.6 N/A  5/1-Year Adjustable Rate 2.88% 0.5 2.74  1 Year Adjustable Rate 2.51% 0.4 2.74

This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24. Data is provided by Freddie Mac's Primary Mortgage Market Survey (PMMS) and is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey. Weekly Commentary by Len Kiefer, deputy chief economist, Freddie Mac "Mortgage rates were little changed this week amid positive housing news. Housing starts 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."

Realtor® Business Building Mega Class!

CREDIT EDGE EVENTREALTOR® BUSINESS BUILDING MEGA CLASS

Event to be held at the following time, date, and location:

Thursday, June 25, 2015 from 2:00 PM to 4:00 PM (MST) The Scottsdale Plaza Resort 7200 North Scottsdale Road Paradise Valley, AZ 85253 View Map

Attend Event

Share this event:

Join us for a Free Realtor® Business Building Mega Class!  Thursday June 25, 2015 The Scottsdale Plaza Resort 2pm - 4pm with Sponsored Happy Hour at Hotel immediately following  • Build Your Pipeline   • Close More Transactions   • Convert Turn-Downs Into Closed Deals   • Recruit, Incubate and Close Credit Challenged Clients in as       little as 90 days!    Registration required, seating is limited! We hope you can make it! Share this event on Facebook and Twitter

FHA Streamlined 203(k) Product

Inventory is low. Do you have a Client who can't seem to find the right home? That NEVER happens, right?! Maybe they actually have found the right home, but don't know it! An FHA Streamlined 203(k) Loan may help with those buyers!

Ask your Fairway Loan Officer for more information today!

VA busts four home loan myths that hurt Veteran homebuyers

Did you know many of Fairway's Loan Officers have been Certified as Military Mortgage Specialists? Ask your Loan Officer today for information about our wide range of Military Programs and Charitable Events benefiting Arizona's Servicemen and Women.

VA busts four home loan myths that hurt Veteran homebuyers

1 in 3 Veterans say they don't know about this benefit

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 Posted on Monday, May 18, 2015 10:34 am  Posted in  Benefits, VA History  by  VAntage Point Contributor   7 views   Edit

The VA Home Loan is the most powerful home buying tool on the market. It—and the GI Bill—literally reshaped post-War America, and it’s a big reason why the historic VA Loan Guaranty Program has surged since the housing crash.

Despite generations of historic success, though, several myths and misconceptions deter millions of Veterans and Servicemembers from partaking in this benefit. Part of the reason is the ongoing awareness battle–about 1 in 3 home buying Veterans didn’t know they had a home loan benefit, according to VA survey data. So let’s set the record straight regarding four common VA Loan myths.

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10 important people and events in Arizona real estate

 Catherine Reagor, The Republic | azcentral.com 3:13 p.m. MST May 15, 2015

Arizona has long experienced real-estate booms and busts, fueled by an abundant supply of vacant land and steady steam of new residents.

The state has drawn some rogue builders and investors, but also those who love the desert and the challenge of developing it. Real-estate mavericks from Frank Lloyd Wright and Del E. Webb to Charles H Keating Jr. are behind some of the state's most prominent developments.

Here are 10 people and events that have shaped Arizona's growth and real-estate industry.

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Sold Home Alert™ Drip Campaign

Ask your Fairway Loan Officer about the Sold Home Alert™ Drip Campaign for your leads!

Weekly Mortgage Interest Rate Report — Week Ending May 14, 2015

Weekly Mortgage Interest Rate Report

Week Ending May 14, 2015

Data Provided by Freddie Mac's Primary Mortgage Market Survey®

Week ending on 05/14/15 Interest Rate Fees & Points Margin  30 Year Fixed Rate 3.85% 0.6 N/A  15 Year Fixed Rate 3.07% 0.5 N/A  5/1-Year Adjustable Rate 2.89% 0.5 2.74  1 Year Adjustable Rate 2.48% 0.4 2.74

This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24. Data is provided by Freddie Mac's Primary Mortgage Market Survey (PMMS) and is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey.

Weekly Commentary

by 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 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."

Realtor® Business Building Mega Class!

CreditEDGE Event - Realtor® Business Building Mega Class

Join us for a a Free Realtor® Business Building Mega Class!

Thursday June 25, 2015

2pm - 4pm with Sponsored Happy Hour at Hotel immediately following

The Scottsdale Plaza Resort
7200 North Scottsdale Road
Paradise Valley, AZ 85253

• Build Your Pipeline

• Close More Transactions

• Convert Turn-Downs Into Closed Deals

• Recruit, Incubate and Close Credit Challenged Clients in as little as 90 days!

Registration required, seating is limited!

Phoenix housing starts, prices, demand up but...

Phoenix housing starts, prices, demand up but market limited for entry-level buyers

May 12, 2015, 1:31pm MST UPDATED: May 13, 2015, 7:30am MST

Michael Orr - ASU Housing Expert

Housing starts, home prices and sales were all up in March, according to new data from Arizona State University.

But there are some supply issues. Current listings are below last year’s inventory levels and a limited number of homes are available for less than $200,000....

READ MORE

CREDIT:  

Mike Sunnucks

Senior Reporter- Phoenix Business Journal

Weekly Mortgage Interest Rate Report — Week Ending May 7, 2015

Weekly Mortgage Interest Rate Report

Week Ending May 7, 2015

Week ending on 05/07/15 Interest Rate Fees & Points Margin  30 Year Fixed Rate 3.80% 0.6 N/A  15 Year Fixed Rate 3.02% 0.6 N/A  5/1-Year Adjustable Rate 2.90% 0.4 2.73  1 Year Adjustable Rate 2.46% 0.4 2.74

This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24. Data is provided by Freddie Mac's Primary Mortgage Market Survey (PMMS) and is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey. Weekly Commentary by 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 bunds 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."

NEW Campaign Available!

NEW Campaign available for our Realtor® Partners!

Looking to target a specific neighborhood that you've recently had success in? Brand yourself as an "Area Specialist" with this exclusive Door Hanger campaign from Fairway!

• Feature your recently sold property in a desired neighborhood

• Personalized for Direct Contact

• Pair with your Fairway Loan Officer to capture Leads on the Home Scouting® App

     - App branded with your info

     - You own the database

     - Sold Home Alert Drip Campaign for Listing Conversions

     - 100% Accurate Area Listings

     - Your own VIP Code

     - Buyer Activity Reports delivered daily!

• Cost is $100 for Realtor® and $100 for Loan Officer per 1,000 Door Hangers*

  (*Does not include cost of distribution if hiring door-to-door delivery)

Contact your Fairway Loan Officer today to set up a Planning Meeting with our Marketing Team to determine if this campaign is right for you!

SAVE THE DATE!

Another incredible event is coming your way from Fairway Independent Mortgage! This complimentary, life changing event with speaker Andy Andrews will inspire you to:

Create the future you want for your life, career

and family, starting right now!

Stay Tuned: Venue and Registration details coming soon! Learn more about Andy HERE

About Andy

Hailed by a New York Times reporter as "someone who has quietly become one of the most influential people in America," Andy Andrews is the author of the New York Times bestsellers How Do You Kill 11 Million People?, The Noticer, and The Traveler's Gift, and is also an in-demand speaker for the world's largest organizations.

Zig Ziglar said, "Andy Andrews is the best speaker I have ever seen."

The Noticer and The Traveler's Gift were featured selections of ABC's Good Morning America and continue to appear on bestseller lists around the world. His books have been translated into over 25 languages.

Andy has spoken at the request of four different United States presidents and toured military bases around the world, being called upon by the Department of Defense to speak about the principles contained in his books. Arguably, there is no single person on the planet better at weaving subtle yet life-changing lessons into riveting tales of adventure and intrigue — both on paper and on stage.

He lives in Orange Beach, Alabama, with his wife, Polly, and their two sons. His latest book, The Noticer Returns, is available everywhere books and ebooks are sold.

Co-Brand This Flyer!

NEW VA Flyer available for Co-Branding! Contact your Fairway Loan Officer to get yours!

Weekly Mortgage Interest Rate Report — Week Ending April 30, 2015

Weekly Mortgage Interest Rate Report — 
Week Ending April 30, 2015

Data Provided by Freddie Mac's Primary Mortgage Market Survey®

Week ending on 04/30/15 Interest Rate Fees & Points Margin  30 Year Fixed Rate 3.68% 0.6 N/A  15 Year Fixed Rate 2.94% 0.6 N/A  5/1-Year Adjustable Rate 2.85% 0.5 2.73  1 Year Adjustable Rate 2.49% 0.4 2.74

This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24. Data is provided by Freddie Mac's Primary Mortgage Market Survey (PMMS) and is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey. Weekly Commentary by 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 also rose 5.0 percent in February on a yearly basis."

BIG. IS. BACK.

BIG. IS. BACK. Ask a Fairway Loan Officer about the 90% LTV Jumbo Loan Product!

Why Fairway?

Ask a Fairway Loan Officer about the Programs and Services that set us apart from the pack!*

                                                     

(*Some products and programs available at participating branches only.)

The Top Home Sale of March 2015

Photos: See the top home sale of March (and other top-sellers)

Travis Arbon

Editorial Intern- Phoenix Business Journal

Email

The most expensive home sale the Phoenix Business Journal recorded in March was a $3,250,000 house in Paradise Valley with a mountain view.

The approximately 5,960-square-foot home, which is laid out on a single story and features a stucco exterior, sold for about $545.30 per square foot.

READ MORE

Did you know?

Did you know? Some interesting facts about the U.S. housing market: • The highest interest rate ever recorded for a 30-year fixed-rate mortgage is 18.45%, which occurred in 1981. This is more than 15 percentage points higher than the lowest mark of 3.31%, recorded in 2012*. On a $200,000 mortgage, that would amount to a difference of about $2,200 per month in a mortgage payment! • 40% of home sales occur during the spring homebuying season. • The typical home buyer will view 10 homes over a 10-week period. • 40% of today’s homebuyers are making down payments that are less than 10%. • 87% of U.S. homes qualify for down payment assistance. Source: Freddie Mac | *According to the Freddie Mac Primary Mortgage Market Survey®

National Housing Market Data According to the latest Realtor.com® National Housing Trend Report, homes spent approximately 89 days on the market, which was a decrease of 12.8 percent both month over month and year over year. Median prices rose to $220,000, an increase of 2.8 percent month over month and 11.1 percent year over year. Su Mo Tu We Th Fr Sa            1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Quote of the Month “The highest and most beautiful things in life are not to be heard about, nor read about, nor seen but, if one will, are to be lived.” – Soren Kierkegaard Philosopher