Rate Lock Advice and Mortgage Market Update
November 3, 2009, 8:20 PT
RATE LOCK ADVISORY
Lock Advice: LOCK
There is a chance of increased rates from investors that priced early. MBS prices are down -3/32, below 9:45 ET pricing of +2/32. With major economic news later this week, volatility may remain high during the week.
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 5.08% on Nov.2
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.699% Up 0.026%.
10 Year Treasury currently 3.450% Down 0%
DJI Stocks $9,741.00, Down -48.44, -0.49%
European and Asian Markets Down -1.135%
Nymex Crude Oil currently $78.13 Down $0.00
Rates 11-03-09, 8:15 AM PT
30 Year Fixed to $417,000
Rate 4.75% Point 1.125, APR 4.912%
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 Discover where you will find the best rates
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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
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Bill Ladewig
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Thank you Bill once again for your daily update. Have a great day!