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Bill Ladewig's AM Market Brief

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

June 26 , 2009, 6:30 AM ST 

National Average Fixed Rate Mortgage 
Down 2 basis point to 5.44% on 06-25-09
*A Basis Point (bps) is 1/100 of 1.00%

Fannie Mae Mortgage Backed Securities (MBS) Down 14.7 basis points to 4.959%

Lock Advice:  Float
This morniing MBS enjoyed their largest down move in over a week after rates looked like they had run out of steam yesterday.  Today the MM rate indicator is Down 5.2 basis points and 10 year bonds were down 5 bps from close of business Thursday.

DJI Stocks Opened 8,429.62  -42.78  -0.50%

European and Asian Markets Up 0.33%

10 Year Treasury currently 3.50%  Dwn .05%

Nymex Crude Oil $70.33 barrel, Up $0.10 

Are the best rates supplied by Direct Lenders? Rate Survey

Your Stealth Rate Shopper Strikes again full story 

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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