DAILY MORTGAGE LOCK ADVISORY
December 14, 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 0.09 point.
30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.875%
MBS (3.5%) - 102.44, High: 102.44, Low: 102.28
DJI Stocks currently $11,912.22, Down $-42.72, Change -0.359%
Asian & European Stock Market Indexes Down -0.909%
Nymex Crude Oil Currently $96.88 Down $3.26
MORTGAGE NEWS BRIEFS
The Day Ahead: Light Data and 3rd Auction of the Week
by Matthew Graham Dec 14 2011, 5:36AM PST
After an extremely quiet overnight session, domestic bond markets are beginning the day in generally the same territory as yesterday's close. Fannie 3.5's are unchanged, as are 10yr yields. Stock futures are within a point of their 4pm levels from yesterday as well. We rarely see all 3 of these markets pull this off, and on such occasions, there's a chance that the 3 instances of "unchanged" are merely serendipitous stopping points after a choppy overnight session. Read more in Mortgage News Daily.
Broker Market Share Increases; Las Vegas' Foreclosed-upon Property Law; Mortgage AE jobs
Some companies in the industry continue to expand, some larger than others. TMSFunding Wholesale Lending (part of Total Mortgage Services - headquartered in Connecticut) is seeking wholesale AE's in 21 states ranging from California to Maine through North Carolina Read more in Mortgage News Daily
Barclays analyst sees housing rebound coming in 2012
by Kerry Panchuk
Barclays Capital (BCS: 11.99 0.00%) analyst Stephen Kim predicts a housing recovery buoyed by improving jobs numbers and the fact prices for nondistressed homes will have stabilized without government support. Read more in Housing Wire
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