MORTGAGE INTEREST RATE LOCK ADVISORY
July 22, 2013 :2:00 PM 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 0.15 point.
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
MARKET INDICATORS
- National Average for 30-Yr Fixed Mortgage Rate declined to 4.37% on July 18.
- MBS (4%) Currently at 104.25, High: 104.39, Low: 104.1
- DJI Stocks closed at $15,545.55, Up $1.81, Change 0.012%
- Asian & European Stock Market Indexes changed 0.338%
- Crude Oil (WTI) Currently $106.91 - Change -1.06%
- Gold 1 Once - $1,335.03
MORTGAGE NEWS
Stuck on the Up Elevator-and We Can't Get Off
By Robert Zimmer - WE'RE HEARING that the change in interest rates from ever-decreasing to something else-two weeks ago, we learned that weekly mortgage rates jumped the most in a week since 1987-is a short-term phenomenon, but also a long-term one. Washington doesn't recognize yet what this will mean, since most policymakers have never functioned in anything but a declining-rate environment.How long have rates been falling? A very long time. Thirty-year-fixed mortgage rates have been falling consistently since 1982. Interest rates in general, benchmarked off prime rates, have been coming down since late 1980. Read More National Mortgage News
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