PM Rate Lock Advice & Mortgage Market Update

January 25, 2010, 3:30  PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT
MBS prices close the day down -2/32.   MBS prices stayed in a narrow range today.  December Existing Home Sales fell 17% to 5.45 million annual units, far below the consensus forecast of 590K units.

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 Jan.25

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.711% Down 0.085%.

10 Year Treasury Currently 3.620% Unchanged 0%

DJI Stocks closed Monday at $10,196.86,  Up 23.88, 0.23%

European and Asian Markets closed Down -0.775%

Nymex Crude Oil Currently $75.27 Up $0.01

California Rates 01-25-10, 8:50 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 Cost Estimates.
No Application or Credit Report required

Compare Rates from Major Lenders Survey

Education is Consumer's Only Real Protection. 

Your FHA GuruBill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

Website

 

 

 

Bill Ladewig is a Mortgage Broker Licensed by the California Department of Real Estate 00968137

NMLS #291249

 

 

 

 

San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage Ultimate Mortgage Calculator

 

2 Comments on PM Rate Lock Advice & Mortgage Market Update

JAN
25
2010
712,458 Points 118 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Bill,

It's an interesting week, with housing numbers today and the President's State of the Union coming out on Wednesday.

Mike in Tucson
6:44pm • #1
421,343 Points Called Shot Master

It will be interesting to see where the fixed rates are at the end of this week.  The numbers are not as good as they would have us believe.
8:07pm • #2


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Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970

Escondido, CA

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Address: San Diego, Escondido, Vista, San Marcos, Oceanside, Rancho Bernardo, Poway, Scripps Ranch, Penasquitos, Shadowridge, Rancho Del Oro, Escondido, CA, 92025

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