Mortgage Rates Crush Previous All-Time Lows

By
Real Estate Mortgage Broker NMLS 291249

DailyMORTGAGE LOCK ADVISORY 

July 24, 2012, 6:45 am 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 0.04 point.  After a long run up it may be time for a correction.


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 3.53% 
MBS (3.5%) - 106.2, High: 106.28, Low: 106.16   
DJI Stocks currently $12,719.98,  Down $-1.48, Change -0.012%   
Asian & European Stock Market Indexes Down -0.81%   
Nymex Crude Oil Currently $88.32 Up $0.18   
Gold 1 Once - $1,579.46 
       

MORTGAGE NEWS BRIEFS 

Mortgage Rates Crush Previous All-Time Lows
Mortgage Rates are on an undisputed tear, moving more today than any day in the past 3 weeks of progressive movement into new all-time lows. The week began much like the previous week ended, with concerns over the European financial system pulling all manner of 'safe-haven' bond yields lower, among them MBS (the Mortgage-Backed-Securities that most directly influence mortgage rates). Once again, there was nothing on the domestic economic calendar and corporate earnings had little effect next to news... >>Mortgage News Daily

 

U.S. Housing Starts Jump 6.9% in June

Dow Jones Newswires U.S. home building rose in June to the highest level in nearly four years, confirming that the housing market has finally started to boost the struggling economy after a prolonged bust.  Home construction increased 6.9% last month from May to a seasonally adjusted annual rate of 760,000, the Commerce Department said Wednesday. Compared with a year ago, starts were up 23.6>>Read More Fox Business

 
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Rainmaker
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Jeffrey DiMuria 321.223.6253 www.SouthBrevardBeachHomes.com
www.SouthBrevardBeachHomes.com
Coldwell Banker Sun Land Realty

Bill...if you told me three or four years ago I would be doing real estate sales and my clients would be getting these types of rates...I would have told you to have another Scotch.

July 24, 2012 06:46 AM
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Dave Sullivan
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Excellent information I will forward it if that is ok? thank you!!!

November 20, 2012 02:55 PM
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Bill Ladewig

Your FHA Guru - FHA and VA Loans Since 1970
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