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Bill Ladewig's AM Market Brief

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

April 28 , 2009, 6:30 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 9.9 basis points to 4.263%

Lock Advice:  Float
The Mortgage Mentor rate indicator, turned downward yesterday.

DJI Stocks Opened 7,986.37 down -38.63 -0.48%

European and Asian Markets Down 2.35%

10 Year Treasury currently 2.88%

Nymex Crude Oil $ 49.08 barrel, Down $1.06

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

 

Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota/Wisconsin Real Estate Expert

Interest rates are still so good. Any buyers are buying! Now if there werent so many multiple offer situations.

Apr 28, 2009 01:38 AM
Bill Ladewig
LoanOfficerSchool.com - Escondido, CA
Experience Is Your Advantage

Chuck, you are absolutely correct.  Rates are low and buyers are lining up for bargins.

The 203k loan is a great way to avoid being one of many offers on a home.  The FHA 203k allows buyers to turn a fixup, that others others pass, by into a dream home.

Apr 28, 2009 01:45 AM
Kathleen Frawley
Keller Williams 916 730-4404 Elk Grove, Wilton, Folsom, Sacramento - Wilton, CA
South County Sacramento, 916 730 4404

Great post. If you write one about 203K I will read every word of it.  (I'm taking a class about it, but not for two weeks, so right now I'm a liitle clueless)

Apr 28, 2009 07:11 AM