MORTGAGE INTEREST RATE LOCK ADVISORY
April 25, 2013 11:30 AM PST
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Mortgage Rates Based on 3% Mortgage Backed Securities are up 0.06 point
30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.41% Down 0.02%
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MORTGAGE NEWS
Q1 Home Values See 'Sustainable' Growth
By Tory Barringer (MReport) After "months of robust and largely unsustainable annual home value appreciation," the national housing market finally showed signs of moderation in this year's first quarter, Zillow reported Thursday.
Zillow's Home Value Index (HVI) rose to $157,600 as of the end of Q1, up 0.5 percent over Q4 2012 and 5.1 percent over the same time last year. Quarterly home value appreciation in the fourth quarter was 2.1 percent-indicating the market is slowing down to a more sustainable pace, says Zillow chief economist Dr. Stan Humphries. » Read More
Distressed Loans Fall Below 5 Million For First Time In 5 Years
By: Jann Swanson (Mortgage News Daily)
All of the housing metrics released today by Lender Processing Services (LPS) showed movement in a positive direction. LPS generally provides a "first look" at some of the data which will be covered in its monthly Mortgage Monitor when released early the following month.
The national delinquency rate dropped 3.13 percent from February to 6.59 percent and was down 3.03 percent from March 2012. The delinquency rate translates to 3.308 million loans that are 30 or more days past due and 1.466 million loans that at 90 or more days delinquent. It does not reflect loans that are in the process of foreclosure.
California AG Awards $9.4M to Assist Victims of Statewide Foreclosure Crisis
(National Mortgage News) California Attorney General Kamala D. Harris has announced California's National Mortgage Settlement Grant Program has awarded $9.4 million to 21 organizations in order to assist Californians affected by the state's foreclosure crisis. The grants will benefit many of the state's neediest homeowners and families by providing or expanding access to free legal assistance and representation, foreclosure intervention aid, homeowner education and financial literacy clinics, blight remediation services, fraud prevention education and employment support services. » Read More
Mortgage Rates Steady Near 3 Month Lows
(Mortgage Daily News) Mortgage rates were essentially flat to begin the week, with most lenders inconsequentially higher or lower than Friday's levels. That puts today's rates in the same league with last week's best offerings as well as those seen after the Employment Situation Report on Friday April 5th. For most lenders, these will be the lowest rates since mid-January, though we'd emphasize that the rate itself isn't moving at the moment, but rather the closing costs associated with prevailing rates »Read More
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