MORTGAGE RATE LOCK ADVISORY
Updated May 3, 9:00 AM PT
Updated Several Times Daily
- Financial Freedom for Qualified Seniors
- Freddie Mac Average:30-Yr FRM, Up 0.07% to 3.66% on 4-28-16.
- Rate Price Based on 3% MBS, Down -0.35 Point.
- DJI Stocks - Currently, $17,702.25, Down ($188.91) -1.07%
- Asian & European Stock Market Indexes Down -1.208%
- Crude Oil (WTI) - Currently, $43.67, Down ($1.11)
- Gold 1 Ounce - Currently, $1,288.90, Down ($7.40)
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
- There are some markets where loans should be locked as soon as possible. This has been one one of them for several weeks.
- Rates Currently Trending: Neutral. Sigma Research says that rates are trending slightly worse this morning. Last week the MBS market improved by +41 bps. This may've been enough to improve mortgage rates or fees for the consumer. The market was volatile last week.
- The big event last week was Wednesday's Fed meeting. A dovish Fed statement was positive for mortgage rates. The economic data released over the past week closely matched expectations, so it had little impact. Mortgage rates ended the week lower.