PM Rate Lock and Mortgage Market Advisory

Rate Lock Advice and Mortgage Market Update

September 29 , 2009, 9:30 AM ET

Important FHA News
09-18-2009, Hud announced sweeping FHA changes, the most I have seen in my career
Press Release: HUD No. 09-177

RATE LOCK ADVISORY

Lock Advice: FLOAT
MBS prices this morning are unchanged from closing prices yesterday. Consumer confidence is lower than expected but did not effect MBS Market.

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
Down 0.01% at 5.09% on Sep.29

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.599% Down 0.059%.

10 Year Treasury currently 2.950% Down -0.36%

DJI Stocks Closed the day at $9,742.20,  Down -47.16, -0.48%

European and Asian Markets Up 0.246%

Nymex Crude Oil currently $66.62 Down $0.22

Bill Introduced to Extend $8,000 First Time Buyer Tax Credit Read Story.

Click to Become A Four Minute Rate Shopping Genius.

Misleading advertising hurts everyone
Click for Article

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

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 What is APR