For-sale inventory drops 20.4% on an annual basis

By
Real Estate Mortgage Broker NMLS 291249

DailyMORTGAGE LOCK ADVISORY 

June 22, 2012, 7:00am PST

Click for Lock Advice Updated Several Times Daily

      

7 day Mortgage Interest Rate lock or Float Advice: LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.12 point.


30 Day Mortgage Interest Rate Lock or Float Advice: LOCK.

Rates could easily move higher or lower, but given the nearness to all time lows, there's generally more risk than reward regarding floating so my advice is to lock.

 

MORTGAGE MARKET INDICATORS

National Average Fixed Rate Mortgage 3.71%
MBS (3.5%) - 104.94, High: 105.13, Low: 104.91   
DJI Stocks currently $12,659.51,  Up $85.94, Change 0.679%   
Asian & European Stock Market Indexes Up 0.288%   
Nymex Crude Oil Currently $78.75 Up $0.55   
Gold 1 Once - $1,565.06 
       

MORTGAGE NEWS BRIEFS
 

Home sales, prices continue gains in May
For-sale inventory drops 20.4% on an annual basis
A shortage of for-sale inventory likely caused a slight month-to-month drop in existing-home sales in May, but both home sales and prices jumped compared to a year ago, according to the latest monthly report from the National Association of Realtors.  Read More Inman News
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Topic:
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Rainmaker
946,310
Edward & Celia Maddox
We Take The High Road
Solutions Real Estate

We have noticed a huge drop in avaliable inventory since January 2012

June 22, 2012 07:45 AM
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Rainmaker
571,909

Bill Ladewig

Your FHA Guru - FHA and VA Loans Since 1970
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