Rate Lock Advice and Mortgage Market Advisory
August 31 , 2009, 10:40 AM PT
Rate Lock Advice: FLOAT
Improved midday repricing may be possible from some investors. MBS prices are up +7/32 (FNMA 30-yr 4.5 at 100.13), above 9:45 AM ET pricing of +4/32, and far above the early low of -1/32.
RATE NOTES:
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
Unchanged at 5.21% on Aug.31
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.84% Down 0.067%.
10 Year Treasury currently 3.40% Down -0.06%
DJI stocks 9,451.54, Down -92.66, -0.97%
European and Asian Markets Down -0.918%
Nymex Crude Oil currently $69.20 Down $3.18
This morning, the Chicago PMI national manufacturing index came in at 50.0, above the consensus forecast of 47.0, but there was little reaction in MBS markets. The Fed's Dudley stated that it's too early to be considering scaling back the Fed's MBS purchases.
No more economic data will be released today.
WORRIED ABOUT HVCC AND AN OUT OF TOWN APPRAISER?
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, 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 Guru
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
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
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage
Comments(5)