MORTGAGE LOCK ADVISORY
January 20, 2012, 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 0.09 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 3.88%
MBS (3.5%) - 102.66, High: 103.72, Low: 102.59
DJI Stocks currently $12,623.79, Down $-0.19, Change -0.002%
Asian & European Stock Market Indexes Up 0.339%
Nymex Crude Oil Currently $99.14 Down $1.25
MORTGAGE NEWS BRIEFS
Will Obama Slam the Mortgage Industry Yet Again?
Yesterday news broke from HUD secretary Shaun Donovan that a robosigning deal was imminent. Today, we learn that maybe a deal isn't as close as Donovan portrayed. Then again, the 'State of the Union' address is next week and there is some talk that President Obama wants to mention the robo settlement using the speech as yet another opportunity to bash the mortgage banking industry Read More National Mortgage News
Mortgage Rates Reach New All-Time Lows. Again
Interest rates for mortgage loans plunged to new lows Thursday, as debt crises in Europe continued to weigh heavily on investors. Finance Web site Bankrate.com and mortgage company Freddie Mac released separate surveys signaling all-time lows for mortgage rates. For Freddie, the 30-year fixed-rate loan fell to 3.88 percent, down from 3.89 percent last week. Read More MReport
Housing starts fall 4.1% in December
by Jason Philyaw
Housing starts fell 4.1% in December, according to Commerce Department data, following a big increase the prior month. Read More HousingWire
Provide More Client Options with Energy Efficient Mortgages