June 26 , 2009, 3:30 PM PST
National Average Fixed Rate Mortgage
Down 4 basis point to 5.40% on 06-26-09
*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 up momentum yesterday. Today the MM rate indicator is Down 5.2 basis points and 10 year bonds were down 5 bps up from close of business Thursday.
DJI Stocks Closed: 8,438.39 -34.01 -0.40%
European and Asian Markets Up 0.32%
10 Year Treasury currently 3.54% Dwn .01%
Nymex Crude Oil $69.16 barrel, Down $1.07
Are the best rates supplied by Direct Lenders? Rate Survey
Your Stealth Rate Shopper Strikes again full story
$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
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