Bill Ladewig's AM Market Brief

April 20 , 2009, 6:30 AM PST

National Average Fixed Rate Mortgage 
Unchanged 4.94% on 04-17-09
*A Basis Point (bps) is 1/100 of 1.00%

Fannie Mae Mortgage Backed Securities (MBS) Up 3.1 basis points to 4.428%

Lock Advice: Float with Caution
The Mortgage Mentor rate indicator shows rates holding in a temporary neutral zone.

DJI Stocks  Opened 8,067.61  -63.72 -0.78%

European and Asian Markets Down 1.78%

10 Year Treasury currently 2.88%

NY Crude Oil $ 47.73 per barrel, Down 5.17%

Home Sales Improved Unexpectedly

FHA Cash Out Refinances Limited to 85%

2009 Conforming Loan Limits increased by American Recovery and Reinvestment Act to $729,750 in high cost counties

How To Apply For $8,000 First Time Buyer Tax Credit
Up to a $8000 Tax Credit is available from IRS

10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier