MORTGAGE RATE LOCK ADVISORY
Updated February 10, 3:45 PM PT
Updated Several Times Daily
- Include Renovation costs with Purchase or Refinance
- 15-30 Day Close: FLOAT With Caution
- 31-45 Day Close: FLOAT With Caution
- Freddie Mac Average:30-Yr FRM, Down 0.07 point on: 2-4-16 to: 3.72%
- Rate Price Based on 3.00% MBS, Down -0.31 Point.
- DJI Stocks - Closed at: $15,914.74, Down ($99.64)
- Asian & European Stock Market Indexes Up 0.006%
- Crude Oil (WTI) - Currently, $27.33, Down ($0.61)
- Gold 1 Ounce - Currently, $1,199.50, Down ($1.20)
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
MORTGAGE & REAL ESTATE NEWS LINKS
REPORTS & ANALYSIS
- Today's Mortgage Rate Forecast: Neutral
- Lock short term closings. As rates continue to decrease the odds of short term rate increases grow. Several market indicators forecast a temporary rate increase.
- Fed: Janet Yellen starts two days of testimony in D.C. with her appearance before the House Financial Services Committee. Her prepared statement has already been released. In summary she said that the global economy is weakening, there's not a direct path to interest rate hikes, but she expects the labor markets to continue to improve.
- Mortgage rates barely budged today, but did manage to gain just a bit of ground. That means another 1-year low, technically, although many lenders are quoting the exact some conventional 30yr fixed rates as yesterday. The range is currently between 3.5% and 3.625% with most lenders still at the higher boundary.