What did mortgage rates do today. DAILY MORTGAGE interest RATE LOCK ADVICE Mortgage Rate Trends Lock periods Mortgage Interest Rate Lock Advisory and Mortgage Interest Rates

MORTGAGE RATE LOCK ADVISORY
  Updated  July, 1 - 9:12 AM PT
Updated Several Times Daily

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LOCK ADVISORY
  • 1-14 Day Close:  FLOAT - (See Below)
  • 15-30 Day Close: FLOAT
  • 31-45 Day Close:  FLOAT

TODAY'S MARKETS
  • Weekly Average 30-Yr FRM, down 0.08% to 3.48% on 6-30-16.
  • Rate Price Based on 3% MBS, Down -0.06 Point.
  • DJI Stocks - Currently, $17,965.32, Up $35.33 0.2%
  • Asian & European Stock Market Indexes Up 0.663%
  • Crude Oil (WTI) - Currently, $48.44, Up $0.11
  • Gold 1 Ounce - Currently, $1,337.60, Up $17.20
National Association of 
Mortgage Brokers
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



 

Bill Ladewig
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REPORTS & ANALYSIS
  • Rates Currently Trending: Lower
  • Mortgage rates are slightly lower this morning. The MBS market improved by +21 bps yesterday. This may've been enough to improve mortgage rates or fees. The market experienced high volatility yesterday. 
  • Lock Short Term Overall the news is good for long term mortgage rates although it would be best to lock loans today scheduled to close next week.
  • In the wake of the Brexit vote, the yield on the 10-year U.S. Treasury bond plummeted 24 basis points. The 30-year mortgage rate declined as well, but not by as much, falling 8 basis points to 3.48 percent. This week's survey rate is the lowest since May 2013 and only 17 basis points above the all-time low recorded in November 2012. This extremely low mortgage rate should support solid home sales and refinancing volume this summer.