DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
July 20, 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 up 0.06 point
Long Term Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution
The market looks overbought which could cause a temporary correction.
30 Year Fixed Interest Rate - National Average 4.51%.
MBS (FNMA 30-year 4.5) - Current: 103.91, High: 103.94, Low: 103.56
DJI Stocks currently $12,580.27, Down $-7.15, Change -0.06%
Asia & Europe Indexes Up 0.891%
Nymex Crude Oil Currently $98.10 Up $0.60
MORTGAGE MARKET NEWS BRIEFS
New Bill May Extend Conforming Loan Limits
On Monday lawmakers introduced a bill that would extend the current conforming loan limits for another two years a deal that could continue federal insurance for homeowners with high conforming jumbo loans. Rep. John Campbell (R-California) and Rep. Gary Ackerman (D-New York) co-sponsored the bill, titled the Conforming Loan Limits Extension Act, which would fix the limit for jumbo loans backed by GSEs Fannie Mae and Freddie Mac and the Federal Housing Administration at $729,750. » Read More MReport
FHA's new rules: more pain for condo market!
Calculated phasedown under way?
Is the Federal Housing Administration taking a back-door exit away from condos -- a key real estate segment in which it's recently built up market shares of 40 percent and higher in many urban areas? Read more: Inman News
June housing starts up 14.6% to 629,000
New construction of U.S. houses jumped in June to their highest level in five months, the Commerce Department estimated Tuesday. Starts rose 14.6% in June to a seasonally adjusted 629,000 annualized units, stronger than the 580,000 pace expected by economists surveyed by MarketWatch > Read More Marketwatch