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
This page was updated  September 30, 2014  2:00 PM PT
Lock Advice is Updated Several Times Daily
    TODAY:            LOCK
    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.

  • 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%
  • Gold 1 Ounce - $1,208.25

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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

Trey Garrison

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.