AM RATE LOCK & MARKET ADVISORY - November 9, 2011

DAILY MORTGAGE LOCK ADVISORY 

November 9, 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:  FLOAT
Tuesday 11-01-11, MBS closed above 102.00 which may signal a rate shift to the downside.

MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 4.00%   
MBS (3.5%) - 102.12, High: 102.25, Low: 101.78   
DJI Stocks currently $11,918.16,  Down $-252.02, Change -2.115%   
Asian & European Stock Market Indexes Down -0.819%   
Nymex Crude Oil Currently $95.43 Down $1.37 
             
MORTGAGE NEWS BRIEFS

Mortgage applications jump 10.3% as interest rates decline
by Kerry Panchuk
The Mortgage Bankers Association said mortgage applications increased 10.3% this past week as more homeowners refinanced existing mortgages or took advantage of lower interest rates to buy homes. Read More in Housing Wire

Furor Mounts Over $13M in GSE Exec Bonuses
Fannie Mae and Freddie Mac remain under scrutiny in the wake of large salaries and bonuses for their executives, as lawmakers from both major parties mount a rare joint effort to criticize the GSEs and their federal regulator. No less than 60 senators a total of 35 Republicans and 25 Democrats crossed the aisle to circulate a letter Friday that denounced the Federal Housing Finance Agency for signing off on $12.79 million in bonuses for ten executives with the GSEs. Furor over the bonuses follows a string of changes for Freddie Mac. » Read More in MReport