MORTGAGE RATE LOCK ADVISORY
As Of: August 29 - 8:00 AM PT
Updated Several Times Daily
- Financial Freedom for Qualified Seniors
- 1-14 Day Close: Cautiously FLOAT
- 15-30 Day Close: Cautiously FLOAT
- 31-45 Day Close: Cautiously FLOAT
- Weekly Average 30-Yr FRM, Unchanged at 3.43% on 8-25-16.
- Rate Price Based on 3% MBS, Down -0.12 Point.
- DJI Stocks - Currently, $18,497.37, Up $101.97 0.55%
- Asian & European Stock Market Indexes Up 0.007%
- Crude Oil (WTI) - Currently, $46.72, Down ($0.92)
- Gold 1 Ounce - Currently, $1,324.60, Down ($0.70)
National Association of
NAR Pending Home Sales Index Jumps in May
99.50% Financing Is Available to Purchase Your Home.
Low rate, 99.50% home financing is available for California home buyers. Email for details
You Don't Need That Much of a Down Payment
Daily Real Estate News |
Many consumers are overestimating the down payment they need in order to purchase a home, according to Christina Boyle, vice president and head of single-family sales at Freddie Mac.
Consumers believe they need 11 percent to 15 percent in order for lenders to approve them for a loan, according to a survey of renters and non-home-owners conducted by Zelman & Associates in New York. Thirty-nine percent say they need at least 15 percent of the purchase price in order to qualify for financing. Only 28 percent of respondents say they would even qualify for a mortgage >>Read More Realtor Mag
REPORTS & ANALYSIS
- All this morning's financial data was basically what the market expected but June was revised higher. Basically, you have some strong Income growth here. Overall this is neutral to a tad negative for pricing.
- Mortgage rate prices are down slightly early this morning. Mortgage rates prices moved up 0.21 point Friday. This was enough to increase mortgage rates or fees. The market experienced moderate to low volatility yesterday.
- 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.5 point for the week ending August 18, 2016, down from last week when it averaged 3.45 percent. A year ago at this time, the 30-year FRM averaged 3.93 percent