MORTGAGE RATE LOCK ADVISORY
As Of: October 24 -12:25 PM PT
- Average 30-Yr FRM, up 0.05 points to 3.52% on 10-20-16
- Rate Price Based on 3% MBS, Up 0.12 Point.
- DJI Stocks - Currently, $18,215.17, Up $69.46 0.38%
- Asian & European Stock Market Indexes Up 0.501%
- Crude Oil (WTI) - Currently, $50.53, Down ($0.32)
- Gold 1 Ounce - Currently, $1,266.30, Down ($3.20)
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
CA BRE 00968137
REPORTS & ANALYSIS
- Today's Lock Advice for the past week Mortgage Backed Securities (MBS) prices have remained in neutral territory and bumping against heavy resistance. The odds are slim that it can punch through the resistance and continue with lower prices. Advise Locking
- Last Week rate prices decreased 0.35 point and the MBS market experienced medium volatility.
- 30-year fixed-rate mortgage (FRM) averaged 3.52 percent with an average 0.5 point for the week ending October 20, 2016, up from last week when they averaged 3.47 percent. A year ago at this time, the 30-year FRM averaged 3.79 percent.