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Bill Ladewig's AM Market Brief
June 18 , 2009, 6:30 AM ST 
National Average Fixed Rate Mortgage  Down 4 basis points at 5.47% on 06-17-09*A Basis Point (bps) is 1/100 of 1.00%
Fannie Mae Mortgage Backed Securities (MBS) Up 4.5 basis points to 5.069%
Lock Advice:  Float with CautionToday's AM rate indicator was down 11.8 basis points but 10 year bonds were up 12 basis points up from close of business Wednesday.
DJI Stocks Opened 8,499.53  +2.35  +0.03%
European and Asian Markets Down 0.36%
10 Year Treasury currently 3.75%
Nymex Crude Oil $71.14 barrel, Up $0.11
Are the best rates supplied by Direct Lenders? Rate Survey
Your Stealth Rate Shopper Strikes again full story 
Click for current Lending news and information
$8,000 Tax Credit Advance was approved (05-29-09) by FHA Click for FHA bulletin 
Fannie MBS Issuance Hits Highest Mark Since 2003Benefiting from historically low interest rates and a refinancing boom, Fannie Mae issued $87.8 billion in mortgage-backed securities in March, nearly doubling the previous month's volume. 1st Quarter Residential Loan Originations Jump 36% Thanks to interest rates that were at or near historical lows, residential mortgage lenders saw their loan production jump by 36% in the first quarter, according to preliminary survey figures compiled by National Mortgage ... more

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