Bill Ladewig's PM Market Brief

Mortgage and Lending NMLS 291249

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 

Click for current Lending news and information

$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



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