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Bill Ladewig's PM Market Brief

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

April 24 , 2009, 1:27 PM PST 

National Average Fixed Rate Mortgage 
Unchanged at  4.93% on 04-24-09
*A Basis Point (bps) is 1/100 of 1.00%

Fannie Mae Mortgage Backed Securities(MBS) Down 2.3 basis points to 4.416%

Lock Advice:  Lock
The Mortgage Mentor rate indicator, after 7 days in neutral, is headed up.

DJI Stocks Closed 8,076.29 up +119.23 +1.50%

European and Asian Markets Up 1.41%

10 Year Treasury currently 2.98%

Nymex Crude Oil $ 51.57 barrel, Up $1.95

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

 

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