Bill Ladewig's AM Market Brief

April 27 , 2009, 11:05 AM 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 5.4 basis points to 4.362%

Lock Advice:  Float with caution
The Mortgage Mentor rate indicator, turned down today.

DJI Stocks 8,005.24  -71.05 -0.88%

European and Asian Markets Down 0.27%

10 Year Treasury currently 2.93%

Nymex Crude Oil $ 49.25 barrel, Down $2.30

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