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  Close of Business, October 23, 2014, 2:30 PM PT
Lock Advice is Updated Several Times Daily

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  • The price for 3.50% Mortgage Loans, based on Fannie Mae MBS, Closed Down 0.01 point
  • After a couple of highly volatile weeks, there were few price swings in mortgage rates this week.
  • With no major surprises in the economic data and little new information from central bank officials, mortgage rates ended nearly unchanged from last week

  • FHLMC Weekly Average:30-Yr Fixed Mortgage Rate, on 10-23-14: 3.92% - Change -0.05% 
  • MBS (3.5%) - Currently  103.51, High: 103.71, Low: 103.44
  • DJI Stocks Currently  $16,805.41,  Up $127.51, Change 0.759%
  • Asian & European Stock Market Indexes changed 0.215%
  • Crude Oil (WTI) Currently : $81.25 - Change -1.02%
  • Gold 1 Ounce - $1,230.65 Currently  - Change 0.18%

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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

Mortgage Rates Tumble With 30-Year at 16-Month Low of 3.97%

Bloomberg News: Mortgage rates plunged, sending borrowing costs for 30-year loans below 4% for the first time in 16 months, as signs of a slowing global economy drove investors to the safety of government bonds.

The average rate for a 30-year fixed mortgage dropped to 3.97%, the lowest since June 2013, from 4.12% last week, Freddie Mac said in a statement today. The average 15-year rate fell to 3.18% from 3.3%, the McLean, Va.-based mortgage-finance company said.

Mortgage rates are following a slide in 10-year Treasury yields as weaker-than-expected economic data from Germany to China combine with concern about a spreading Ebola virus, sparking demand for safe investments. Borrowing costs for home loans have fallen for four straight weeks, offering a break to buyers and giving owners a new opportunity to refinance

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