MORTGAGE INTEREST RATE LOCK ADVISORY
January 20, 2014 6:30 AM PST
STOCK AND BOND MARKETS ARE CLOSED ON MLK DAY
LOCK ADVISORY
7 Day Mortgage Interest Rate lock or Float Advice: LOCK
The cost for a 4.00% rate based on Mortgage Backed Securities is down 0.09 point
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
MARKET INDICATORS
- Freddie Mac National Average: 30-Yr Fixed Mortgage Rate down 0.10% to 4.41% on Jan. 16
- MBS (4%) - Closed Friday 104.08, High: 104.17, Low: 103.88
- DJI Stocks Closed Friday $16,458.56, Up $41.55, Change 0.252%
- Asian & European Stock Market Indexes changed -0.172%
- Crude Oil (WTI) Currently $93.90 - Change -0.5%
- Gold 1 Once - $1,255.50
REAL ESTATE & MORTGAGE NEWS
Buy-and-rent investors get squeezed
By Les Christie - It's getting harder to make a bundle buying up foreclosures and renting them out.The auction prices of homes climbed faster than rents in 2013, so returns on investment dropped, according to a report from CoreLogic.
]
That's a change from the past several years. In many cities where mortgage defaults spiked after the housing crash, investors were able to buy foreclosed homes at prices so low they were able to make big rental profits.>>Read More
Comments(0)