DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
June 15, 2011,6:30 AM PST
Lock Advice is Updated Several Times Daily
Mortgage Interest Rate lock Advice for locks within 2 days: FLOAT
Mortgage Points based on Mortgage Backed Securities are down 0.15 point.
Long Term Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution.
Long term: European financial instability is causing Europeans to invest in the safety of US bonds which is supporting mortgage prices.
- MARKET INDICATORS
30 Year Fixed Interest Rate - National Average 4.49%.
MBS (FNMA 30-year 4.5) - Current: 103.66, High: 103.72, Low: 103.53
DJI Stocks currently $11,967.65, Down $-108.46, Change -0.9%
Asia & Europe Indexes Down -1.222%
Nymex Crude Oil Currently $98.74 Down $0.63
MORTGAGE MARKET NEWS BRIEFS
Wednesday, June 15, 2011
Mortgage Bankers Association reported that weekly mortgage applications improved to it´s best result since early March, growing by 13% the week ended Jun 10 compared to the prior contraction of 0.4%.
On a seasonally adjusted basis, the Consumer Price Index (CPI) increased 0.2 percent in May after rising 0.4 percent in April. The index for all items less food and energy rose 0.3 percent in May after increasing 0.2 percent in April as reported by the US Bureau of Labor Statisics.
The Federal Reserve stated Industrial production edged up 0.1 percent in May, the second consecutive month with little or no gain.