July 17 , 2009, 1:00 PM PST
National Average Fixed Rate Mortgage
Up 1 basis point at 5.28% on 07-17-09
*A Basis Point (bps) is 1/100 of 1.00%
Fannie Mae Mortgage Backed Securities
Down 6.6 basis points to 4.958%.
Lock Advice: Lock
MM rate direction indicator still points north.
DJI Stocks rose 384 in the past three days. Typically, when stocks rise so do rates.
DJI Stocks Closed today at 8,743.94 +32.12 +0.37%
European and Asian Markets Up 0.96%
10 Year Treasury closed today at 3.65% up 6 bps
Nymex Crude Oil $63.41 barrel, Up $1.39
07-17-09: Housing starts surge
Government report says initial construction of U.S. homes rose to an annual rate of 582,000 units last month. Full Story
07-17-09 Stock Rally Pushes Mortgage Rates Higher Full Story
06-16-09: Initial jobless claims fell 47,000 to 522,000 last week.
Initial claims for jobless benefits dropped by 47,000 to 522,000 in the week ended July 11, the Labor Department said Thursday. The four-week average of new claims, which aims to smooth volatility in the data, fell by 22,500
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
10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier