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.

MARKET INDICATORS
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

Education is Consumer's Only Real Protection. 

Your FHA GuruBill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

Website

 

 

 

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

NMLS #291249

 

 

 

 

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3 Comments on DAILY MORTGAGE INTEREST RATE LOCK ADVICE

AUG
19
2011
842,598 Points 85 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Education is power....let's hope that the rates continue to play in our favor Bill!
9:47am • #1
303,602 Points 8 Featured Posts Outside Blog Attended Rain Camp

is anyone still taking applications at the higher FHA loan limits or has everyone conceeded that they can't get them closed before Sept 30th? Most of them in our area have moved to the new lower limits already.
9:57am • #2
488,617 Points 7 Featured Posts Outside Blog

Larry Thanks for the comment.  You are absolutely correct, Education is Power.

Mike, there are some lenders that are accepting locks up to the end of the first week in September.
10:10am • #3


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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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