US Housing: A Disappointing March, But Spring Offers Redemption

MORTGAGE LOCK ADVISORY 

April 3, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

Mortgage Interest Rate lock Advice for locks within 8 days: FLOAT 

Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.04 point. 

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT 

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.99%
MBS (3.5%) - 102.94, High: 102.06, Low: 102.91   
DJI Stocks closed at $13,252.00,  Down $-12.49, Change -0.094%   
Asian & European Stock Market Indexes Down -0.105%   
Nymex Crude Oil Currently $104.90 Down $0.33   
Gold 1 Once - 1675 

    
MORTGAGE NEWS BRIEFS
 
US Housing: A Disappointing March, But Spring Offers Redemption

Most of March's housing numbers were disappointing, with sales unexpectedly falling across all categories and prices hitting new lows, reversing February's optimism. But the winter market is usually the year's quietest, and spring could bring redemption

>>Read More International Business Time

Ex-TBW CFO pleads guilty to largest mortgage frauds in U.S. history

Ex-CFO Delton de Armas, 41, admitted to helping his boss, Lee Farkas, pull off a $3 billion fraud scheme that brought down the nonbank as well as its chief warehouse lender, Colonial BancGroup, Montgomery, Ala.>>Read More National Mortage News

A House committee voted unanimously to pass a bill that looks to give a boost to the Federal Housing Administration through increased mortgage insurance premium caps and other changes. The FHA, under the bill, could charge up to 2.05% for its annual mortgage premium, up from a current 1.55% maximum... Read More HousingWire.