Rate Lock Advice and Mortgage Market Update
November 9, 2009, 11:00 PT
RATE LOCK ADVISORY
Lock Advice: FLOAT
MBS prices moved slightly higher and are up +4/32.
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 5.06% on Nov.9
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.673% Down 0.046%.
10 Year Treasury currently 3.470% Down -0.1%
DJI Stocks $10,196.18, Up 172.76, 1.72%
European and Asian Markets Up 1.878%
Nymex Crude Oil currently $79.86 Up $2.43
The big bailout banks find another way to rip off the consumer... just in a nick of time for them, but not for us. FHA is back in the spotlight. They didn't produce the audit that was due yesterday. Another credit tip from Kim Castro! See TBWS Video
Rates 11-09-09, 8:15 AM PT
30 Year Fixed to $417,000
Rate 4.75% Point 0.875, APR 4.889%
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
Education is the Only Effective Consumer Protection
Teach Your Clients to Find Legitimate Rate Quotes Read Story
Senate Passes the First Time Buyer Tax Credit Read Story
Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
Bill Ladewig
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Bill thanks again for sharing this great information. Have a great day!