MORTGAGE INTEREST RATE LOCK ADVISORY
November 13, 2013 :7:30 AM PST
LOCK ADVISORY
7 Day Mortgage Interest Rate lock or Float Advice: Float With Caution
The cost for a 3.50% rate based on Mortgage Backed Securities is up 0.35 point
It appears the MBS market has the possibility of a pullback after a good run
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
MARKET INDICATORS
- National Average for 30-Yr Fixed Mortgage Rate is up 0.06% to 4.16% on Nov 7,.
MBS (3.5%) - Currently 100.55, High: 100.69, Low: 100.434
DJI Stocks currently $15,680.16, Down $-70.51, Change -0.45%
Asian & European Stock Market Indexes changed -0.672%
Crude Oil (WTI) Currently $93.76 - Change 0.77%
Gold 1 Once - $1,272.03
MORTGAGE & REAL ESTATE NEWS
Third-Quarter Refinancers to Save $6B Over Next Year
by Tory Barringer - Despite a steady climb in mortgage interest rates since May, borrowers continued to take advantage of low rates to refinance into lower monthly payments, Freddie Mac reported Tuesday.According to the results of the company's latest quarterly refinance analysis, the average interest rate reduction among those who refinanced in Q3 was about 1.8 percent, representing a savings of about 30 percent ($3,500 over 12 months on a $200,000 loan). For borrowers who refinanced last quarter, the estimated interest savings over the next year will be about $6 billion.>>Read More
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