MORTGAGE LOCK ADVISORY
January 9, 2012, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily
Mortgage Interest Rate lock Advice for locks within 7 days: LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.03 point. MBS are seriously overbought and the market could reverse in the next couple of days.
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 3.91%
MBS (3.5%) - 103.11, High: 103.11, Low: 103.03
DJI Stocks currently $12,360.15, Up $0.23, Change 0.002%
Asian & European Stock Market Indexes Up 0.34%
Nymex Crude Oil Currently $101.81 Up $0.25
Pending Home Sales Highest in Over a Year-and-a-Half
By: Carrie Bay
Pending home sales continued to rise in November, reaching their highest level in 19 months, the National Association of Realtors (NAR) reported late last week. Read More in Linkedin
Markets flat as Europe woes balanced by recovering US
Overnight, US markets finished flat to marginally higher as investors continued to balance ongoing European issues against US economic data, confirming that the world's biggest economy is on the slow path to recovery. National Business Review
December employment report was stronger than consensus.
Dec. unemployment expected at 8.7% fell to 8.5%, the lowest level since Feb 2009 when it was 8.3%. Non-farm jobs expected +155K, jumped to 200K; non-farm private jobs thought to be 160K increased 212K. Yesterday ADP reported 325K private jobs. Dec average hourly earnings, as usual, up 0.2%.
Comments(2)