MORTGAGE INTEREST RATE LOCK ADVISORY
August 28, 2014, 8:00 AM PST
LOCK ADVISORY
7 Day Close Mortgage Interest Rate lock or Float Advice: LOCK
- This morning, MBS are trading at the top of their long term trading channel and today would be a good day to lock loans needing to close in the next seven days..
- The price for 3.50% Mortgage Loans based on MBS is currently down 0.12 point.
30 Day Close Mortgage Interest Rate Lock or Float Advice: FLOAT with CAUTION
MORTGAGE MARKET INDICATORS
- FHLMC Average: 30-Yr Fixed Mortgage Rate, Unchanged at 4.10% on August 28
- MBS (3.5%) - Currently 102.95, High: 103.01, Low: 102.76
- DJI Stocks currently $17,053.70, Down $68.31, Change -0.401%
- Asian & European Stock Market Indexes changed -0.988%
- Crude Oil (WTI) Currently $94.43 - Change 0.59%
- Gold 1 Ounce - $1,289.36
MORTGAGE AND REAL ESTATE NEWS
Housing Continues Slow Crawl Toward Stability
Author: Tory Barringer
The country's housing market continued to inch closer to normalcy in June, but the slow rate of progress remains a concern for analysts.
Freddie Mac's Multi-Indicator Market Index (MiMi) rose 0.04 percent from May to June, ending the year's first half at a reading of 73.7, the company reported Wednesday. On a yearly basis, the gauge improved 7.67 percent.
The monthly index tracks housing market stability at the national, state, and metro level, using home purchase applications, payment-to-income ratios, employment, and proportion of on-time mortgage payments as measures of health. As of the June report, Freddie Mac rescaled the MiMi to make it easier to read, though the underlying data was left untouched. >>Read More
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