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PM Rate Lock Advice & Mortgage Market Update
Rate Lock Advice & Mortgage Market Update
DAILY RATE LOCK ADVICEApril 26 2010, 3:28 PTLock Advice is Updated Several Times Daily
Rate lock Advice for loans that must lock today:  LOCKMBS prices closed up 2/32 down from a high of 8/32 and unfavorable repricing was seen.Mortgage Rates run opposite MBS prices
Long Term Mortgage Rate Lock or Float Advice:  LOCKThe past two week rate downtrend may have been broken last Thursday.  We won't know for sure for a couple of days but when not positive about the market direction, always lock.
National Average Fixed Rate Mortgage UP 0.01% at 5.13% on Apr.26 MBS Yields Opened at 4.833% Down 0.033%. 10 Year Treasury Currently 3.840% Up 0.04% DJI Stocks closed at $11,205.03,  Up 0.75, 0.01% European and Asian Markets closed Up 0.788 Nymex Crude Oil Currently $84.20 Down $0.92 MORTGAGE MARKET NEWS
Monday, 04-26: No economic data will be released today.
Friday, 04-23:March New Home Sales jumped 27%, far above expectations, which pushed MBS markets lower.  This created a good news double whammy when Durable Orders excluding aircraft was a very strong report.  Strong reports = Increased Mortgage Rates
Bernanke confident on recovery  AP Associtated Press VA Loans Show Good Intel Is Best Defense The ... more

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