MORTGAGE INTEREST RATE LOCK ADVISORYJuly 17, 2013 :6:45 AM PST Click for Updated Lock Advice
LOCK ADVISORY
7 Day Mortgage Interest Rate lock or Float Advice: FLOAT With Caution
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The cost for a 4.00% rate based on Mortgage Backed Securities is down 0.44 point.
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
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MARKET INDICATORS
- National Average for 30-Yr Fixed Mortgage Rate jumped to 4.51% on July 11.
- MBS (4%) Closed at 104.18, High: 104.66, Low: 103.66
- DJI Stocks closed at $15,488.03, Up $36.18, Change 1.095%
- Asian & European Stock Market Indexes changed 0.43%
- Crude Oil (WTI) Currently $106.06 - Change 0.06%
- Gold 1 Once - $1,294.29
Qualified Mortgages Shutting the Door Home-ownership?
By Robert Ottone -"The Qualified Mortgage (QM,) lack of availability and lack of downpayment is going to continue to drive the rental market, which is a shame, because renters often can't qualify to buy homes," said John Hudson, former Government Affairs Committee Chair with the NAMB-The Association of Mortgage Professionals. "A lack of affordable housing is something I see happening in the near-future. This is a huge problem, debt-to-own ratios are pretty ridiculous." Read More National Mortgage Professional
