Shift in Home Supply Hurts Lower, Middle-Range Buyers

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

MORTGAGE INTEREST RATE LOCK ADVISORY

September 5, 2014, 8:00 AM PST 
 
LOCK ADVISORY
7 Day Close Mortgage Interest Rate lock or Float Advice: FLOAT
  • The price for 3.50% Mortgage Loans based on MBS is currently down 0.20 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 September 4.
  • MBS (3.5%) - Currently 102.8, High: 102.97, Low: 102.53
  • DJI Stocks currently $17,022.73, Down $46.85, Change -0.275%
  • Asian & European Stock Market Indexes changed -0.26%
  • Crude Oil (WTI) Currently $94.13 - Change -0.34%
  • Gold 1 Ounce - $1,269.08
     
MORTGAGE AND REAL ESTATE NEWS 
Shift in Home Supply Hurts Lower, Middle-Range Buyers
Author: Tory Barringer
While the nation's supply of for-sale homes has seen some steady improvements over the year, a new concern has emerged: Most of the inventory now hitting the market is too overpriced for the average homebuyer.

Looking at the stock of homes for sale in its network of markets, national brokerage Redfin reported that, among the "mid-range" of home prices ($130,000-$375,000) available supply has actually fallen 17 percent over the last three years to a total of 668,000 as of July.>>Read More MReport

Comments (0)