Zillow Sees New Record Lows for Mortgage Rates

MORTGAGE LOCK ADVISORY

January 11, 2012, 6:45 AM PST

Click for Lock Advice Updated Several Times Daily

Mortgage Interest Rate lock Advice for locks within 7 days: LOCK

Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.01 point. The 0.34 decrease in MBS prices from yesterday to today was due to the MBS market moving from a January to a February coupon and does not effect points.

30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution

There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS

National Average Fixed Rate Mortgage 3.91%
MBS (3.5%) - 103.11, High: 103.16, Low: 103
DJI Stocks currently $12,491.99, Up $99.3, Change 0.795%
Asian & European Stock Market Indexes Up 1.646%
Nymex Crude Oil Currently $102.78 Up $1.47

MORTGAGE NEWS BRIEFS

Zillow Sees New Record Lows for Mortgage Rates
By Ryan Schuette
Interest rates for the benchmark 30-year fixed-rate mortgage smashed new records for Zillow, which reported current rates falling as low as 3.71 percent, the lowest in survey history for the real estate Web site.Read More MReport

No Excuses... Just Appointments

Words of wisdom from the TBS Daily Show 5 minute Video

Americans Feel More Confident About Housing
Consumer sentiment climbed higher last month despite historically low conditions, with Americans by and large feeling more optimistic about housing, according to Fannie Mae. » Read More MReport

Pending Home Sales Highest in Over a Year-and-a-Half
By: Carrie Bay
Pending home sales continued to rise in November, reaching their highest level in 19 months, the National Association of Realtors (NAR) reported late last week. Read More in Linkedin