DAILY MORTGAGE LOCK ADVISORY
November 1, 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 0.43 Point .
30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT
Today, MBS moved 102.00 and if they can close above 102.00 it may signal a rate shift to the downside.
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 4.11%
MBS (3.5%) - 102.25, High: 102.34, Low: 101.81
DJI Stocks currently $11,695.34, Down $-259.67, Change -2.22%
Asian & European Stock Market Indexes Down -4.118%
Nymex Crude Oil Currently $89.70 Down $3.49
MORTGAGE NEWS BRIEFS
Stocks May Open Sharply Lower Amid Renewed Europe Worries
With traders expressing renewed concerns about the financial situation in Europe, stocks are likely to move sharply lower in early trading on Tuesday. The major index futures are pointing to a sharply lower open for the markets, with the Dow futures down by 219 points. (Nov 1, 2011) Full Article at RTTNews
Big Four Banks Release Earnings, Citing Economy, Litigation
Litigation fees, bold restructuring moves, and new regulation helped shape earnings figures over the third quarter for the nation's largest lenders and financial institutions in October. Along with numerous other banking holding companies and investment firms, Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo released their reports to the media and investors over the past two weeks. The results: more mortgage lenders continue to exit the business, while financial institutions stepped up the public debate against onerous regulations. » Read More at MReport
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