MORTGAGE LOCK ADVISORY
April 4, 2012, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily
Mortgage Interest Rate lock Advice for locks within 8 days: FLOAT With Caution
Mortgage points based on Mortgage Backed Securities are down 0.33 point after yesterday's 0.88 point increase
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.99%
MBS (3.5%) - 102.47, High: 102.48, Low: 102.13
DJI Stocks closed at $13,078.99, Down $-120.56, Change -0.922%
Asian & European Stock Market Indexes Down -0.809%
Nymex Crude Oil Currently $102.60 Down $1.41
Gold 1 Once - 1622.1
MORTGAGE NEWS BRIEFS
Markets Hit Hard Yesterday With Release of the 3/13 FMOC Minutes
Good economic news is not good for mortgage rates and gold. Gold fell hard, rates climbed and stocks rolled over while the dollar rallied. The minutes revealed the Fed is optimistice about the economy. Inflation and the EU will remain contained and the forecast for GDP may be revised upward.
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
Another Tax by Another Name Directed at First Time Buyers
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.
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