HOME LOAN INTEREST RATE ADVISORY
This page was updated Close of Business, October 30, 2014, 2:00 PM PT
Lock Advice is Updated Several Times Daily
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4-15 Day Close: LOCK
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- The price for 3.50% Mortgage Loans, based on Fannie Mae MBS, is down 0.10 point
- FED ENDS QE (Treasury and Agency MBS purchases)
- The Preliminary 3rd QTR GDP hit 3.5%, the estimates were for 3.0%
- This is historically negative for pricing!
MORTGAGE MARKET INDICATORS
- FHLMC Weekly Average:30-Yr Fixed Mortgage Rate, on 10-23-14: 3.98% - Change +0.06%
- MBS (3.5%) - Currently 103.42, High: 103.52, Low: 103.28
- DJI Stocks Currently $17,195.42, Up $221.11, Change 1.286%
- Asian & European Stock Market Indexes changed 0.411%
- Crude Oil (WTI) Currently : $80.90 - Change -1.58%
- Gold 1 Ounce - $1,198.65 Currently - Change -2.1%
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
The Federal Reserve’s experiment in quantitative easing is coming to an end
The Federal Reserve’s $3 trillion experiment in stimulating the nation’s economy is slated to come to an end this week -- a sign of the central bank’s growing confidence in the recovery as well as a tacit acknowledgement of the limits of its powers to boost growth.
The decision to stop pumping money into the economy is expected to come when Fed officials wrap up their two-day meeting in Washington on Wednesday. The program, known as quantitative easing, was originally intended to be a one-time injection of money into a financial system in shock during the darkest days of the crisis in 2008. But over the past six years, the central bank has turned to the program to try to remedy everything from lackluster hiring to a moribund housing market.
REAL ESTATE & MORTGAGE NEWS