Rate Lock Advice and Mortgage Market Update
December 4, 2009, 11:45 PT
RATE LOCK ADVISORY
Lock Advice: LOCK
MBS prices are down -17/32. After the Employment data came in stronger than expected. The economy lost just -11K jobs in November, and the Unemployment Rate fell to 10.0% from 10.2%.
RATE NOTES:
When MBS prices are up, Rates are down.
Lock advice can change throughout the day .
Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage
Unchanged at 4.87% on Dec.3
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.544% Up 0.06%.
10 Year Treasury Currently 3.470% Up 0.08%
DJI Stocks $10,361.92, Down -4.23, -0.04%
European and Asian Markets Up 0.654%
Nymex Crude Oil Currently $75.40 Down $1.06
If you value your business then please watch this three minute video
See TBWS Video
Rates 12-04-09, 11:45 PT
30 Year Fixed to $417,000
Rate 4.75% Point 0.875, APR 4.884%
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
Education is the ONLY Effective Consumer Protection
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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