Mortgage Rates End Week at Lows

7 Day Mortgage Interest Rate lock or Float Advice: LOCK ASAP

The cost for a 4.00% rate based on Mortgage Backed Securities Closed Friday down 0.05 point.

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

• National Average for 30-Yr Fixed Mortgage Rate jumped to 4.51% on July 11.
• MBS (4%) Closed at 103.29, High: 103.59, Low: 103.17
• DJI Stocks closed at $15,464.30,  Up $3.38, Change 1.095%
• Asian & European Stock Market Indexes changed -5.64%
• Crude Oil (WTI) Currently $104.62 - Change -1.78%
• Gold 1 Once - $1,279.90

REAL ESTATE & MORTGAGE NEWS

Mortgage Rates End Week at Lows

Mortgage rates didn't manage the same sort of surge lower as that seen yesterday.  In fact, some lenders were unchanged, but on average, rates fell to their lowest levels of the week.  Most of the positivity came courtesy of overnight movement in Europe and Asia.  This started the day for rates off on a strong foot and although mid-day weakness prompted many lenders to hike rates a bit, the worst of the adjusted rate sheets were still at least as good as yesterday's.  That means the 30yr fixed best-execution rate remains at 4.625%.  Most of the improvements were seen in the form of lower borrowing costs.  At this point, we're closer to moving down to 4.5% than up to 4.75%. >>Read More Mortgage News Daily