PM Rate Lock Advice and Mortgage Market Update
October 15, 2009, 9:50 AM ET
RATE LOCK ADVISORY
Lock Advice: LOCK
MBS prices are down -7/32, above 9:45 AM ET Inititial pricing of -8/32, but below the recent high of unchanged. If you received pricing near the high, then unfavorable repricing may be a risk. It has been a very volatile session.
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 5.01% on Oct.14
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.694% Up 0.027%.
10 Year Treasury currently 3.440% Down -0.01%
DJI Stocks $10,002.18, Down -13.68, -0.14%
European and Asian Markets Up 0.055%
Nymex Crude Oil currently $77.32 Up $2.14
Rate Survey Where you will find the best rates
Rates 10-15-09, 8:00 AM PT30 Year Fixed to $417,000
Rate 4.750% Point 1.125, APR 4.910%
APR Based on $350,000 Loan at 80% LTV
Above Rates can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required
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Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
New FHA Condo Rules have been extended to November 2, 2009 - Story
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
October 2009, Rate Lock Advice and Mortgage Market Update
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