Rate Lock Advice & Mortgage Market Update
DAILY RATE LOCK ADVICE
April 16 2010, 6:45 PT
Lock Advice is Updated Several Times Daily
Rate lock Advice for loans that must lock today: FLOAT
MBS prices are up +4/32. .
Mortgage Rates run opposite MBS prices
Long Term Rate Lock or Float Advice: FLOAT With Caution.
There is a reasonably good chance we have seen a temporary halt to the upward mortgage rate trend we have experienced for the past 30 days.
MORTGAGE MARKET NEWS
Housing Starts came in stronger than expected
- National Average Fixed Rate Mortgage
UP 0.01% at 5.13% on Apr.15 - MBS Yields Opened at 4.802% Down 0.034%.
- 10 Year Treasury Currently 3.860% Down -0.02%
- DJI Stocks $11,139.28, Down -5.29, -0.05%
- European and Asian Markets Down -0.466%
- Nymex Crude Oil Currently $84.03 Down $1.48
- Bernanke confident on recovery AP Associtated Press
- 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
California Rates 04-15-10, 9:55 PT
30 Year Fixed to $417,000
Rate 4.75% Point 0.846, APR 4.959%
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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