Rate Lock Advice and Mortgage Market Update
November 17, 2009, 8:30 PT
RATE LOCK ADVISORY
Lock Advice: FLOAT With CAUTION
MBS are bouncing around this morning, up 2/32 and down 6/32. Currently prices are down 1/32. PPI inflation was lower than expected, but MBS prices did not improve after the data.
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 0.06% at 4.99% on Nov.16
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.47% Down 0.018%.
10 Year Treasury Currently 3.340% Up 0.01%
DJI Stocks $10,378.02, Down -28.94, -0.28%
European and Asian Markets Down -0.661%
Nymex Crude Oil Currently $78.64 Down $0.26
Take 5 minutes to watch this humorous and educational video... The big bailout banks find another way to rip off the consumer
... just in a nick of time for them, but not for us. See TBWS VideoRates 11-17-09, 8:30 AM PT
30 Year Fixed to $417,000
Rate 4.625% Point 1.00, APR 4.769%
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
President signs the First Time Buyer Tax Credit Extension Read Story
Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
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