DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
August 19, 2011, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily
Mortgage Interest Rate lock Advice for locks within 1 day: LOCK
Mortgage points based on mortgage backed securities are Up 0.33 point.
Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution
Due to US and world financial market uncertainty be very cautious. This rate market could run away from you in a heartbeat so the best bet is to lock low rates whenever there is a downward shift.
30 Year Fixed Interest Rate - National Average 4.32%.
MBS (FNMA 30-year 4.0) - Current: 104.36, High: 104.50, Low: 104.22
DJI Stocks currently $10,893.10, Down $-97.48, Change -0.89%
Asia & Europe Indexes Down -2.718%
Nymex Crude Oil Currently $81.77 Down $0.61
MORTGAGE MARKET NEWS BRIEFS
US housing starts 'fall less than expected'
The number of housing starts in the US fell by 1.5 per cent in July compared to June, a much smaller drop than analysts had been anticipating. Property Showrooms.com
Thursday The US stock market was down $419.63 based on continued weakness in Europe's bank stocks that are seeing heavy selling.
Housing Bust Provides New Openings for Mortgage Fraud
The housing boom created a rich climate for mortgage fraud and while the bust that followed the boom has changed the nature of the crime, it has provided continued opportunities which the Federal Bureau of Investigation (FBI) is attempting to quantify. The Bureau has released a study that attempts to quantify the breadth and depth of mortgage fraud in 2010 so FBI program managers and the general public can better understand the current threat. Read More in Mortgage News Daily