DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
July 29, 2011, 6:30AM PST
Click for Lock Advice Updated Several Times Daily

Mortgage Interest Rate lock Advice for locks within 2 days: FLOAT
Mortgage Points based on Mortgage Backed Securities are down 0.31 point.  Looks like rates will improve again this morning.

Long Term Mortgage Interest Rate Lock or Float Advice:  LOCK
Due to the financial market uncertainty awaitng for August 2nd, best advice is to lock current low rates.

MARKET INDICATORS
30 Year Fixed Interest Rate - National Average  4.52%.      
MBS (FNMA 30-year 4.5) - Current: 104.03, High: 104.03, Low: 103.81   
DJI Stocks currently $12,117.81,  Down $-122.3, Change -1%   
Asia & Europe Indexes Down -1.235%   
Nymex Crude Oil Currently $95.34 Down $2.10

          
MORTGAGE MARKET NEWS BRIEFS

Realtors Report Uptick in Sales Contracts
Pending real estate sales had another strong showing in June according to the Pending Home Sales Index (PHSI) released today by the National Association of Realtors® (NAR). The Index, a forward-looking indicator based on home sales contracts, rose 2.4 percent to 90.9 in June, following an 8.2 percent increase to 88.8 in May. Read More in Mortgage News Daily
 
Weekly Jobless Claims Unexpectedly Drop Below 400,000
New unemployment claims in the U.S. showed a significant decrease in the week ended July 23rd, according to figures released Thursday by the Labor Department, with claims falling below the key 400,000 level. Read more at RTT News

California Mortgage Defaults Drop to Four-Year Low
Mortgage defaults in California reached a four-year low at the end of last quarter, according to DataQuick.  Analysts said a more stable housing market and recent policy changes in the mortgage servicing industry are the main reasons for the latest decrease in state foreclosures. Read More at Managing REO

Education is Consumer's Only Real Protection. 

Your FHA GuruBill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

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

NMLS #291249

 

 

 

 

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Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970

Escondido, CA

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Address: San Diego, Escondido, Vista, San Marcos, Oceanside, Rancho Bernardo, Poway, Scripps Ranch, Penasquitos, Shadowridge, Rancho Del Oro, Escondido, CA, 92025

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