Rate Lock Advice & Mortgage Market Update
DAILY RATE LOCK ADVICE
February 22, 2010, 6:35 PT
Updated Several Times Daily
Today's Lock Timing: FLOAT. MBS prices are Down 2/32.
No economic data will be released today.
Long Term Lock or Float Advice: LOCK.
On February 10th Rates began a reverssal of a down trend held since December, 2009.
National Average Fixed Rate Mortgage
UP 0.02% at 5.06% on Feb.19
MBS Opened at 4.823% Up 0.006%.
10 Year Treasury Currently 3.780% Down -0.01%
DJI Stocks $10,418.22, Up 15.87, 0.15%
European and Asian Markets Up 0.595%
Nymex Crude Oil Currently $80.22 Up $0.41
- Credit card relief is here, but watch out for new traps CNNMoney.com
- Where's housing headed? Follow rents. CNNMoney.com
- Housing construction up 2.8 percent in January. StLtoday.com
- OneWest Bank's sweetheart deal with our Bank Owned Government (BOG) Must See Video
- Barney Frank Named 'Porker of the Year' CNBC News
- Fannie Mae is providing 3.50% Buyer Assistance on HomePath Loans Story
- FHA is Effectively Out of Making Condo Loans Story
- FHA Suspends Four Lenders Story
- FHA UFMIP will increase from 1.75% to 2.25% effective April 5. 2010
- Other FHA Changes are in the wind accordingto FHA Commissioner David H Stevens announced on a conference call to reporters January 19th. besides changed UFMIP, FHA plans to lower maximum seller contributions from 6% to 3% and they will increase the downpayment requirement up to 10% for low FICO scores. The official FHA bulletin was released on Jan. 21st. Read Bloomberg report
California Rates 02-19-10, 8:55PT
30 Year Fixed to $417,000
Rate 4.750%, Point 1.375, APR 4.944%
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
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