Rate Lock Advice and Mortgage Market Update
October 27, 2009, 11:00 AM PT
RATE LOCK ADVISORY
Lock Advice: FLOAT
MBS prices are up +11/32, above 9:45 AM ET pricing of +2/32, and at the high for the day. Several lenders have reposted improved rates. Demand was very strong for the 2-yr auction and weaker than expected Consumer Confidence data helped MBS markets.
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 0.04% at 5.1% on Oct.27
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.808% Up 0.034%.
10 Year Treasury currently 3.470% Down -0.12%
DJI Stocks $9,868.57, Up 0.61, 0.01%
European and Asian Markets Down -0.311%
Nymex Crude Oil currently $78.98 Up $0.30
Rates 10-27-09, 10:45 AM PT
30 Year Fixed to $417,000
Rate 5.00% Point 0.875, APR 5.142%
APR Based on $350,000 Loan at 80% LTV
Above Rate 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
Rate Survey Where you will find the best rates
Education is the Only Effective Consumer Protection
Teach Your Clients to Find Legitimate Rate Quotes Read Story
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and His Merry Band of Financial Thugs? Read Story
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
Your Fha Guru
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
October 2009, Rate Lock Advice and Mortgage Market Update
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Bill has put some good information together here..