DAILY MORTGAGE LOCK ADVISORY
November 10, 2011, 6:30 AM PST
Mortgage Interest Rate lock Advice for locks within 7 days: LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.16 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%) - 101.59, High: 101.81, Low: 101.5
DJI Stocks currently $11,911.57, Up $130.63, Change 1.097%
Asian & European Stock Market Indexes Down -1.193%
Nymex Crude Oil Currently $97.28 Up $1.54
MORTGAGE NEWS BRIEFS
I am Thankful for America, Not perfect just best.
We have fourteen days until Thanksgiving, first celebrated in the fall of 1621 when the Pilgrims held a three-day feast to celebrate a bountiful harvest. But it did not become a national holiday until 1863 when President Abraham Lincoln proclaimed the last Thursday of November as a national day of thanksgiving. Later, President Franklin Roosevelt clarified that Thanksgiving should always be celebrated on the fourth Thursday of the month to encourage earlier holiday shopping - very crafty.
NAR Reports Increased Home Sales, but Prices Drop
According to the National Association of Realtors® (NAR) home sales rose in every state during the third quarter compared to the same period one year earlier but prices continued to decline. The median price of a single family home declined from the third quarter of 2010 in 111 of the 150 metropolitan statistical areas (MSAs) tracked by the Association and rose in 39. In the second quarter 41 MSAs had annual price gains. Read More in Mortgage World Daily