June 10 , 2009, 1:00 PM PST
National Average Fixed Rate Mortgage
Up 5 basis points at 5.53% on 06-10-09
*A Basis Point (bps) is 1/100 of 1.00%
Fannie Mae Mortgage Backed Securities (MBS) Up 4.8 basis points to 5.392%
Lock Advice: Lock
Wednesday's AM rate indicator was again sharply up and 10 year bonds were 7 basis points down from close of business Tuesday.
DJI Stocks Closed 8,739.02 -24.04 -0.27%
European and Asian Markets Up 1.71%
10 Year Treasury currently 3.94%
Nymex Crude Oil $71.20 barrel, Up $1.19
$8,000 Tax Credit Advance was approved (05-29-09) by FHA Click for FHA bulletin
Fannie MBS Issuance Hits Highest Mark Since 2003
Benefiting from historically low interest rates and a refinancing boom, Fannie Mae issued $87.8 billion in mortgage-backed securities in March, nearly doubling the previous month's volume.
1st Quarter Residential Loan Originations Jump 36%
Thanks to interest rates that were at or near historical lows, residential mortgage lenders saw their loan production jump by 36% in the first quarter, according to preliminary survey figures compiled by National Mortgage News and the Quarterly Data Report.
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