MORTGAGE INTEREST RATE LOCK ADVISORY
July 16, 2013 :9:00 AM PST
LOCK ADVISORY
7 Day Mortgage Interest Rate lock or Float Advice: FLOAT With Caution
The cost for a 4.00% rate based on Mortgage Backed Securities is down 0.02 point.
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
MARKET INDICATORS
- National Average for 30-Yr Fixed Mortgage Rate jumped to 4.51% on July 11.
- MBS (4%) Closed at 103.85, High: 103.84, Low: 103.59
- DJI Stocks closed at $15,439.74, Down $-44.52, Change 1.095%
- Asian & European Stock Market Indexes changed -0.277%
- Crude Oil (WTI) Currently $106.05 - Change -0.25%
- Gold 1 Once - $1,288.76
MORTGAGE NEWS
Realtor.com: Inventories are Returning to Normal
While June inventories continue to be down on year-over-year basis, they rose for the sixth consecutive month and are steadily returning to more normal levels. The number of homes listed for sale increased by 4.3 percent in June to 1.9 million homes, the highest level in the last year, according to monthly data released Monday by realtor.com.Inventories on realtor.com reached their highest level in more than a year, suggesting that market fundamentals continue to be strong and that housing supply in many markets is gradually catching up with housing demand. At same time, the median age of the inventory increased by just one day in June, suggesting that housing sales are generally keeping pace with new property listings. Read more Real Estate Economy Watch
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