Rate Lock Advice and Mortgage Market Update

September 22 , 2009, 4:00 PM ET

Breaking News
Friday, Hud announced sweeping FHA changes,
the most I have seen in my career
Press Release: HUD No. 09-177

Lock Advice:  FLOAT
MBS prices closed up 7/32, above 9:45 et pricing of -1/32.
This week's major economic news will be the Treasury auctions and the Fed meeting.  The results for the 2-yr Treasury auction were close to average overall.

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
UP 0.01% at 5.13% on Sep.22

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.79% Up 0.021%.

10 Year Treasury currently 3.050% Down -0.44%

DJI Stocks $9,829.87,  Up 51.01, 0.52%

European and Asian Markets Up 0.368%

Nymex Crude Oil currently $71.76 Up $1.83

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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

Rate Survey Where you will find the best rates

Time is running out, don't let your buyers delay, the $8,000 Tax Credit is expiring on December 1, 2009.

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

August 2009, Rate Lock Advice and Mortgage Market Update

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