Freddie Mac said the average rate on 30-year fixed-rate mortgages jumped to 7.41% for the week ended June 3, up from 7.23% the previous week.
In the 15-year sector, fixed-rate mortgages increased to 7.04% from 6.84% the week before. A year ago, the rate was 6.70%.
The rate for one-year Treasury-indexed adjustable-rate mortgages averaged 6.10%, decreasing slightly from the previous week's average of 6.11%. A year ago, this rate was 5.68%.
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
