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DAILY MORTGAGE INTEREST RATE LOCK ADVICE

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
July 14, 2011, 6:30 AM PST
Lock Advice is Updated Several Times Daily

Mortgage Interest Rate lock Advice for locks within 2 days:  LOCK
Mortgage Points based on Mortgage Backed Securities are up 0.16 point .

Long Term Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
The market looks overbought which could cause a temporary correction.

  • MARKET INDICATORS
    30 Year Fixed Interest Rate - National Average  4.60%.      
    MBS (FNMA 30-year 4.5) - Current: 103.98, High: 104.06, Low: 103.94   
    DJI Stocks currently $12,508.30,  Up $16.69, Change 0.13%   
    Asia & Europe Indexes Down -0.452%   
    Nymex Crude Oil Currently $98.75 Up $0.70   
       

MORTGAGE MARKET NEWS BRIEFS

MI Giant Genworth Makes Undisclosed Payment For FHA Report
    Conflicts of interest abound in the world of academic research. Many were highlighted in last year's Academy Award-winning documentary about the financial crisis, "Inside Job." a must see movie.
     The latest example of such a conflict comes from George Washington University. In a research report released last month, professor Robert Van Order, chair of the Center for Real Estate and Urban Analysis there, and professor Anthony Yezer, director of the university's Center for Economic Research, make a strong argument for shrinking the role of the FHA in insuring mortgages. But nowhere is it disclosed that the paper was at least partially underwritten by the private mortgage insurance giant Genworth Financial Inc., which stands to benefit from a pull back in the market by FHA.

Jobless Claims
In the week ending July 9, the advance figure for seasonally adjusted initial claims was 405,000, a decrease of 22,000 from the previous week's revised figure of 427,000.

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