July 30, 2013 :8:00 AM PST Click for Updated Lock Advice
LOCK ADVISORY
7 Day Mortgage Interest Rate lock or Float Advice: LOCK
The cost for a 3.50% rate based on Mortgage Backed Securities is down 0.09 point.
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
Find out what's happening in Rancho Bernardo-4s Ranchwith free, real-time updates from Patch.
MARKET INDICATORS
- National Average for 30-Yr Fixed Mortgage Rate declined to 4.31% on July 25.
- MBS (3.5%) Currently 100.83, High: 101.75, Low: 100.72
- DJI Stocks currently $15,536.79, Up $14.82, Change 0.095%
- Asian & European Stock Market Indexes changed 0.969%
- Crude Oil (WTI) Currently $103.64 - Change -0.87%
- Gold 1 Once - $1,323.59
Rising Rates Begin to Impact Pending Home Sales in June
Find out what's happening in Rancho Bernardo-4s Ranchwith free, real-time updates from Patch.
After reaching the highest level in over six years, pending home sales declined in June, with rising mortgage interest rates beginning to impact the market, according to the National Association of Realtors. The Pending Home Sales Index (PHSI) edged down 0.4 percent to 110.9 in June from a downwardly revised 111.3 in May, but is 10.9 percent higher than June 2012 when it was 100.0; the data reflect contracts but not closings. Pending sales have been above year-ago levels for the past 26 months, and the pace in May was the highest since December 2006 when it reached 112.8. >>Read More National Mortgage Professional
