AM RATE LOCK & MARKET ADVISORY - October 28, 2011

 DAILY MORTGAGE LOCK ADVISORY 

October 28, 2011, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 7 days:  FLOAT

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

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. 

MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 4.11%   
MBS (3.5%) - 100.81, High: 100.84, Low: 100.47   
DJI Stocks currently $12,174.19,  Down $-34.36, Change 0%   
Asian & European Stock Market Indexes Up 0.024%   
Nymex Crude Oil Currently $92.82 Down $1.14   
             
MORTGAGE NEWS BRIEFS

The Day Ahead: Equity Rally Fizzles (Helps Rates)
Thursday's stock rally isn't being sustained in early trading: equity futures in the U.S. are pointing downwards and European markets are in modest sell-off.  Read more in Mortgage News Daily 

New Home Sales Strike a 5.7% September Stride
By: Ryan Schuette 
New single-family home sales snagged a September updraft to crest at their highest perch in nearly half a year, but remain below sales seen during the same period last year. Read More in MReport 

Four arrested in Sacramento for allegedly defrauding mortgage lenders

By: Kerry Panchuck
Four California residents face prison time and thousands of dollars in fines for allegedly defrauding lenders out of $900,000 Read More in Housing Wire

New Home Sales Strike a 5.7% September Stride

By: Ryan Schuette 
New single-family home sales snagged a September updraft to crest at their highest perch in nearly half a year, but remain below sales seen during the same period last year.  Read More in MReport