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AM RATE LOCK & MARKET ADVISORY - November 18, 2011

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

DAILY MORTGAGE LOCK ADVISORY 

November 18, 2011, 6:45 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 up 0.03 Point . 

 

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK
MBS are hovering just below a long term resistance level.  In this uncertain market the best advice is to lock at historic low rates.

 

MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.99%   
MBS (3.5%) - 101.78, High: 101.81, Low: 101.69   
DJI Stocks currently $11,805.16,  Up $34.43, Change 0.292%   
Asian & European Stock Market Indexes Down -0.487%   
Nymex Crude Oil Currently $99.38 Up $0.56   
             
MORTGAGE NEWS BRIEFS

House approves higher FHA conforming loan limits
by Jon Prior
The House of Representatives voted 292-121 to restore the elevated conforming limits for jumbo mortgages for the Federal Housing Administration Thursday.
The Senate is expected to give a final vote in the coming days. Read More in Housing Wire
 

 

Europe Debt Crisis Keeps Mortgage Rates at Record Lows
By: Ryan Schuette   
Mortgage rates ran a tepid streak started three weeks ago by hovering at around 4 percent this week, according to Freddie Mac, largely because investors continue to flee European sovereign bonds for the safe haven of U.S. Treasury debt.  Read More in MReport