Rate Lock Advice & Mortgage Market Update

PM Rate Lock Advice & Mortgage Market Update

DAILY RATE LOCK ADVICE
March 16, 2010, 6:30 PT
Website is Updated Several Times Daily

Short Term Lock Advice for loans that must lock today:  LOCK. .  
MBS prices are down -6/32. Housing Starts came in close to expectations.  Interest rates run opposite MPS prices

Long Term Lock or Float Advice:  LOCK.
MBS prices are oversold and and broke below their hundred day moving average.

National Average Fixed Rate Mortgage 
Unchanged at 4.97% on Mar.15

MBS Yields Opened today at 4.694% Down 0.001%.

10 Year Treasury Currently 3.710% Unchanged 0%

DJI Stocks $10,659.31,  Up 17.16, 0.16%

European and Asian Markets Up 0.408%

Nymex Crude Oil Currently $80.99 Up $1.19

• 11-year-old boy buys property worth $44 mn in Dubai  The Economic Times
• USDA Rural Housing Funds to Run Dry by April. Lenders Already Dropping the Program Mortgage News Daily
• Maybe there is help for Jumbo Loans.  Broker Universe
• CA Buyer and Broker convicted of loan Fraud Broker Universe
• Home Prices Continue Climb from 2009  Housing Wire
• Home Affordable Refinance Program (HARP) has been extended to June 30, 2011.  Notice 
• Mortgage Brokers are the cheapest conduit to bring loans to market according to FHA Commissioner, David Stevens TBWS
• Homeowner Estimates as Good as Zillow? Appraisal Academics Think So  Housing Wire
• Homebuilders Expect FHA Changes to Hurt Sales HOUSINGWIRE
• 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
• Fannie Mae is providing 3.50% Buyer Assistance on HomePath Loans Story

California Mortgage Rates 03-15-10, 2:30PT
30 Year Fixed to $417,000
Rate 4.750%  Point 0.750, APR 4.883%

APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked  for 30 days.
Click for Quotes on FHA and VA loans With Detailed Cost Estimates.
 No Application or Credit Report required

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