AM INTEREST RATE LOCK ADVICE

DAILY MORTGAGE LOCK ADVISORY 

October 3, 2011, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 1 day:  FLOAT

Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.34  point. 

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT
On Wed. 09-21-2011 3.5% Mortgage Backed Securities (MBS) broke through a long standing resistance level which is very good news for mortgage rates.

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 4.01%  A Hundred Year Low
MBS (FNMA 30-year 3.5) - 103.16, High: 103.16, Low: 102.78   
DJI Stocks currently $10,881.37,  Down $-32.01, Change -0.29%   
Asian & European Stock Market Indexes Down -2.699%   
Nymex Crude Oil Currently $77.37 Down $1.83 

MORTGAGE NEWS BRIEFS

FRIDAY MORTGAGE RATES CLOSED AT THE LOWEST RATES IN OVER 100 YEARS!
 
This Week; it is still all about what the stock market does on a daily basis, it isn't rocket science to know that these days if stock indexes increase the bond and mortgage markets get tagged----and the opposite also applies. There are a number of key economic releases this week but the big one hits Friday with the Sept employment report, present estimates that will likely change through the week is for non-farm jobs to increase measly 60K jobs and non-farm private jobs up just 83K, the unemployment rate is expected unchanged. If those estimates prove true, the job growth would suggest the economy is back-sliding toward another recession. David Shirmeryer - Rate Alert.

Housing market hit bottom
by Liz Enochs
The U.S. housing market hit bottom this year and will remain flat until 2014, when it will start to slowly recover, said Rick Sharga, an executive vice president with Carrington Mortgage Holdings. Read more in HousingWire 

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The documentary "Inside Job"  and the movie "To Big To Fail" clearly illustrate who is currently running our government.  Learn the advantages of publicly funded elections go to  Americans for Campaign Reform