MORTGAGE INTEREST RATE LOCK ADVISORY
April 30, 2013 4:45 PM PST
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Click for Updated Lock Advice
7 day Mortgage Interest Rate lock or Float Advice: LOCK
Mortgage Rates Based on 3% Mortgage Backed Securities are down 0.06 point
30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.40% Down 0.01%, April 26
MBS (3.5%) - 104.61, High: 104.8, Low: 104.55
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MORTGAGE NEWS
Pending Home Sales Climb in March, Progress Slows
By Mark Liebrman The National Association of Realtors' (NAR) Pending Home Sales Index (PHSI) rose 1.5 percent to 105.7 in March, the highest level in almost three years, the group (NAR) reported Monday.
Economists had expected a 0.7 percent increase to 105.5 from February's originally reported 104.8. The February index reading was revised to 104.1.
Last week in a parallel report, the Census Bureau and HUD reported contracts for the sale of new homes increased 1.5 percent to 417,000 in March.
Both the new homes sales and the pending home sales reports measure contract signings and are designed to be forward-looking indicators. » Read More
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