Rate Lock Advice and Mortgage Market Update

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Rate Lock Advice and Mortgage Market Advisory

August 28 , 2009, 7:00 AM PT

Rate Lock Advice:  FLOAT
MBS prices are down -3/32. Personal Income and Core PCE came in very close to expectations and had little immediate impact..

When MBS prices are up, Rates are down.
Lock advice changes throughout the day .
Good economic news = Bad Rate News.

National Average Fixed Rate Mortgage
Down 0.01% at 5.19% on Aug.27

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.907% Up 0.071%.

10 Year Treasury currently 3.50% Up 0.03%

DJI stocks 9,555.69, Down -24.94, -0.26%

European and Asian Markets Up 1.027%

Nymex Crude Oil currently $72.48 Up $0.20

This morning, July Personal Income remained unchanged from June, which was very close to the consensus forecast. The July Core PCE price index, the Fed's favored inflation measure, matched expectations with an increase at a 1.4% annual rate, down from 1.5% last month.

Once again, the data showed that inflation is not a concern right now. Consumer Sentiment will be released at 10:00 et. Volume is likely to be very light today, which may lead to increased volatility.

If you are concerned about the value of your listing and need a local appraiser consider FHA financing where we can still control the appraiser selection.

Read recent HVCC Wall Street Journal Article

Where are the best rates: Mortgage Brokers or Direct Lenders? Rate Survey

The dreaded Stealth Rate Shopper Strikes Ditech full story

Click for inter-day Rate Lock and Market updates

Click for current Lending news and information

Time is Running Out

Time is running out, don't let your buyers delay, the $8,000 Tax Credit is expiring on November 30.

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

Your FHA GuruYour Fha Guru

Bill Ladewig
800.664.SAVE (7283)

The Mortgage Markets and Rate Lock Advisory is updated several times a day and is available at http://www.yourfhaguru.com


August 2009, Rate Lock Advice and Mortgage Market Update

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Jim Crawford
RE/MAX Paramount Properties - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Bill thank you so much for sharing.  Have a great weekend!

Aug 29, 2009 01:29 AM #1
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