https://youtu.be/wRb2qK0RkDU There is no set definition about what is considered pre-qualified and what is…
Nebraska Mortgage Rates | May 1 2021
Weekly Rate Update
Rates fluctuate everyday and are based on several factors. For an exact rate quote, submit your request HERE for a free evaluation.
PMMS 4/29/2021
For the second consecutive week, mortgage rates managed to hold steady below 3%, rising one basis point last week to 2.98%.
In light of the rising COVID-19 caseloads globally, U.S. Treasury yields stopped moving up a month ago and have remained within a narrow range as the market responds to incoming economic data, noted Sam Khater, Freddie Mac’s chief economist. While traders typically become hesitant ahead of economic speeches from the Federal Reserve, the FOMC once again did not change its stance on inflation and asset purchases, despite forward economic recovery.
“The good news is that with rates under three percent, refinancing continues to be attractive for many borrowers who financed before 2020,” Khater said. “But, for eager buyers, especially first-time homebuyers, inventory continues to be extremely tight and competition for available homes to purchase remains high.”
MBA 4/28/2021
Mortgage applications decreased despite mortgage rates falling for the third week in a row, indicating high prices and low inventory, said Joel Kan, MBA associate vice president of economic and industry forecasting.
“Even with a few weeks of lower rates, most borrowers have likely already refinanced, which is why activity has decreased in seven of the last eight weeks,” Kan said. “The purchase market’s recent slide comes despite a strengthening economy and labor market. Activity is still above year-ago levels, but accelerating home-price growth and low inventory has led to a decline in purchase applications in four of the last five weeks.”
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.17% from 3.2%.
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