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Mortgage Market 1:00 PM 9-30-13

By Bill Ladewig

Real Estate Broker/Owner with One @ Done Exclusive Buyer Agent

September 30, 2013 06:14 AM

MORTGAGE INTEREST RATE LOCK ADVISORY

September 30, 2013 :1:00 PM PST

Click for Updated Lock Advice

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 0.03 point

Rates look like they will continue up for the foreseeable future. Lock on any improvement

30 Day Mortgage Interest Rate Lock or Float Advice: LOCK

MARKET INDICATORS

National Average for 30-Yr Fixed Mortgage Rate is down 0.18% to 4.32% on Sept. 26,.
MBS (3.5%) - Currently 101.9, High: 101.94, Low: 101.59
DJI Stocks closed at $15,129.67, Down $-128.57, Change -0.85%
Asian & European Stock Market Indexes changed -1.133%
Crude Oil (WTI) Currently $102.47 - Change -0.39%
Gold 1 Once - $1,328.24

REAL ESTATE & MORTGAGE NEWS

Five Ways Google Glass Will Change Real Estate

By Jackie Ruiz - In 2014, Google Glass will leave the testing roam and become available for consumers everywhere. The wearable tech from the search giant is the first of its kind and building hype as various industries race to use Glass to their advantage. The obvious players are there-social networks, photography, navigation-but real estate is already finding ways to use Glass in revolutionary ways.

Property search
Browsing homes and rentals online is often unorganized and frustrating. Listings have missing data, photos and information about the neighborhood. But now a person can soon walk down the street wearing Glass and see, in real time, which properties in the community are for sale and rent. >>Read More

Call it the summer of the cash sale.

All-cash home purchases skyrocketed during the summer months of 2013, with their share of total sales growing by more than 40 percent from the beginning of June to the end of August, amid sustained appetite from investors, a recent spike in interest rates and tight inventory.

Cash purchases accounted for 45 percent of sales in August, up from the 2013 trough of 32 percent seen in April and May, according to RealtyTrac data provided exclusively to Inman News. >>Read More

- See more at: http://activerain.com/blogsview/4207317/google-glass-will-change-real-estate?share_opt=1#sthash.lNFUgoDA.dpuf