Rate Lock Advice & Mortgage Market Update

Rate Lock Advice & Mortgage Market Update

DAILY RATE LOCK ADVICE
April 8, 2010, 6:30 PT
Lock Advice is Updated Several Times Daily

Short Term Lock Advice for Today's must lock loans:  FLOAT
MBS prices are up +2/32. Jobless Claims came in higher than expected.
Interest Rates run opposite MBS prices

Long Term Lock or Float Advice:  FLOAT With Caution.
There is a reasonably good chance we have seen a temporary halt to the downturn we have experienced for the past 30 days. 

National Average Fixed Rate Mortgage 
UP 0.02% at 5.2% on Apr.7

MBS Yields Opened at 4.878% Down 0.075%.

10 Year Treasury Currently 3.890% Down -0.09%

DJI Stocks $10,883.61,  Down -13.91, -0.13%

European and Asian Markets Down -1.13%

Nymex Crude Oil Currently $84.78 Down $1.10

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• VA Loans Show Good Intel Is Best Defense The Department of Veterans Affairs' loan guarantee program-which requires no downpayment-has performed much better than, say, the troubled Federal Housing Administration program.  National Mortgage News
• Employers added most jobs in 3 years in March STLToday
• B of A agrees to cut loan amounts for underwater borrowers. National Mortgage News
• Maybe there is help for Jumbo Loans. Broker Universe
• Mortgage Brokers are the cheapest conduit to bring loans to market according to FHA Commissioner, David Stevens TBWS
• OneWest Bank's sweetheart deal with our Bank Owned Government (BOG) Must See Video

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California Rates 04-07-10, 1:30 PT
30 Year Fixed to $417,000
Rate 4.875% Point 0.875, APR 5.025%
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

Compare Rates from Major Lenders Survey

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Education is Consumer's Only Real Protection. 

• What You Should Know About APR
• How To Shop for Mortgage Rates.
• Beware of Misleading Lender Advertising
• Education is the best consumer protection
• Rates and Point Relationship Explained

Bill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

Website

 

 

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

 

 

 

 

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