MORTGAGE RATE LOCK ADVISORY
Updated October 8, 2:30 PM PT
Updated Several Times Daily
1-14 Day Close: LOCK
15-30 Day Close: FLOAT
31-45 Day Close: FLOAT With Caution
- Freddie Mac Average:30-Yr FRM, on: 10-1-15: 3.85% - Down 0.09 point
- Rate Price Based on 3.5% MBS - Closed at: Up 0.10 Point.
- DJI Stocks - Closed at: $17,050.75, Up $138.46
- Asian & European Stock Market Indexes Up 0.254%
- Crude Oil (WTI) - Currently, $53.34, Up $2.01
- Gold 1 Ounce - Currently, $1,141.20, Down ($10.50)
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
Mortgage & Real Estate NEWS LINKS
REPORTS & ANALYSIS
- Initial Weekly Jobless Claims 263K vs est of 274K This reading is not likely to materially change the MBS pricing level as the bond market awaits the FOMC Minutes.
- While 15-45 day closing are Float recommendations it's a good idea to Lock loans closing sooner due to the possibility of a rate bounce after the large drop.