MORTGAGE RATE LOCK ADVISORY
Updated July, 1 - 9:12 AM PT
Updated Several Times Daily
- Financial Freedom for Qualified Seniors
- 1-14 Day Close: FLOAT - (See Below)
- 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
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
- How long will mortgage rates stay low now that Brexit is a reality?
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.