HOME LOAN INTEREST RATE ADVISORY
This page was updated September 30, 2014 2:00 PM PT
Lock Advice is Updated Several Times Daily
7 Day Close: FLOAT with Caution
30 Day Close: LOCK
- The price for 3.50% Mortgage Loans based on Fannie Mae MBS is currently up 0.05 point.
- MBS have had a nice short run and I think it is time lock for loans close to close.
MORTGAGE MARKET INDICATORS
- FHLMC Weekly Average:30-Yr Fixed Mortgage Rate, down 0.03% at 4.20% on 9-25.
- MBS (3.5%) - Closed at: 102.3, High: 102.39, Low: 102.13
- DJI Stocks closed at $17,042.90, Down $28.32, Change -0.166%
- Asian & European Stock Market Indexes changed 0.682%
- Crude Oil (WTI) Currently $91.52 - Change -3.23%
National Association of
REAL ESTATE & MORTGAGE NEWS
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
Your Mortgage Mentor
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
Housing starts nosedive 14.4% in August
Below analyst expectations despite coming off a heated July
Privately-owned housing starts plunged 14.4% in August, according to the U.S. Census Bureau.
Starts were expected to drop after a strong July but not by this much.
Housing starts for July jumped to an annualized pace of 1.093 million units-up from 0.945 million units the prior month. July was up a sharp 15.7%.
Housing starts printed at a seasonally adjusted annual rate of 956,000, well below analyst expectations, but 8% above the August 2013 rate of 885,000.
Single-family units remained largely flat as they have for the past 20 months, multifamily starts fell from 396,000 to 343,000, or 13.4% for permits, and an incredible 31.5% for starts.