Rate Lock Advice & Mortgage Market Update
DAILY RATE LOCK ADVICE
March 25, 2010, 1:15 PT
Lock Advice is Updated Several Times Daily
Short Term Lock Advice for today's must lock loans: LOCK.
After yesterday's largest drop in over 6 months today's MBS prices roller coasted from up 4/32 to a low of -13/32 causing several lenders to repost unfavorable midmorning rate changes. Presently, MBS prices are down 1/32 and the threat of further rate hikes has eased.
Jobless Claims came in a little lower than expected.
Interest rates run opposite MPS prices
Long Term Lock or Float Advice: LOCK.
After a couple of meandering weeks, yesterday the market resumed it's direction downward. Lock ASAP.
National Average Fixed Rate Mortgage
UP 0.05% at 5.03% on Mar.25
MBS Yields Opened at 4.838% Up 0.148%.
10 Year Treasury Currently 3.840% Up 0.15%
DJI Stocks Closed at $10,841.21, Up 5.06, 0.05%
European and Asian Markets closed Up 0.767%
Nymex Crude Oil Currently $80.27 Down $0.34
- B of A agrees to cut loan amounts for underwater borrowers. National Mortgage News
- US Housing Price Index Declined 6% from December to January News Release
- 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
- 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
- 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 Rates 03-25-10, 1:15 PT
30 Year Fixed to $417,000
Rate 4.875% Point 0.750, APR 5.028%
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.
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