Rate Lock Advice and Mortgage Market Update

September 2 , 2009, 10:45 AM PT

Rate Lock Advice:  FLOAT
Favorable repricing may be possible. MBS prices are up +8/32 (FNMA 30-yr 4.5 at 100.29), above 9:45 et pricing of +4/32. Early investors may have priced at lower levels.  Second quarter Productivity was revised higher than expected to 6.6%.

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 5.2% on Sep.2

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.766% Down 0.034%.

10 Year Treasury currently 3.310% Down -0.07%

DJI stocks 9,318.53, Up 7.93, 0.09%

European and Asian Markets Down -1.246%

Nymex Crude Oil currently $67.06 Down $0.95

This morning,

Second quarter Productivity was revised higher to 6.6%, which was a little above the consensus forecast. Factory Orders will be released at 10:00 et, and the FOMC minutes will come out at 2:00 et.

The Mortgage Bankers Association weekly purchase activity index fell by 1%, while the refinancing activity index decreased by 3%.

Worried ManWORRIED 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

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)
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

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Education is Consumer's Only Real Protection. 

Your FHA GuruBill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

Website

 

 

 

Bill Ladewig is a Mortgage Broker Licensed by the California Department of Real Estate 00968137

NMLS #291249

 

 

 

 

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 Ultimate Mortgage Calculator

 
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3 Comments on Rate Lock Advice and Mortgage Market Update

SEP
02
2009
320,796 Points 2 Featured Posts Localism Sponsor

Hi Bill: Thanks for the market update - great advice as always!

:)
6:03pm • #1
SEP
03
2009

Hey, Bill - That's good to know about FHA financing and appraiser selection. I don't have the opportunity to refer lenders very often, but I have put you in my list of Personal Referrals.
3:16am • #2
421,343 Points Called Shot Master

Bill thanks once agian for your update.  I appreciate it.
11:36pm • #3


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Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970

Escondido, CA

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Address: San Diego, Escondido, Vista, San Marcos, Oceanside, Rancho Bernardo, Poway, Scripps Ranch, Penasquitos, Shadowridge, Rancho Del Oro, Escondido, CA, 92025

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