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AM RATE LOCK & MARKET ADVISORY - October 19, 2011

By Bill Ladewig

Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

October 19, 2011 03:15 AM

DAILY MORTGAGE LOCK ADVISORY

October 19, 2011, 7:00 AM PST

Click for Lock Advice Updated Several Times Daily

Mortgage Interest Rate lock Advice for locks within 7 days: LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.08 point. In the short term, the bond market looks volatile and the safe bet is to lock on any down day.

30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
October 7, 2011, Mortgage Backed Securities moved below a long standing resistance level which could be bad news for long term rates.

National Average Fixed Rate Mortgage 4.12%

MBS (3.5%) - 101.23, High: 101.25, Low: 100.97
DJI Stocks currently $11,553.89, Down $-23.16, Change -0.2%
Asian & European Stock Market Indexes Up 0.895%
Nymex Crude Oil Currently $88.35 Up $0.01

FREE OPEN HOUSE FLYERS - Click for Samples and Details

MORTGAGE NEWS BRIEFS

Homebuilders More Confident Despite Economic Outlook

Homebuilders grew more confident this month than at any time in the past year, a measure of strength in the housing market that nonetheless trails figures seen before the financial crisis. A survey released Tuesday by the National Association of Home Builders showed homebuilder confidence cresting at 18 points, four points up from a score of 14 indexed by the trade group last month. Points below 50 signal a negative outlook about the market. Read More at MReport