DailyMORTGAGE LOCK ADVISORY
June 25, 2012, 6:30am PST
Click for Lock Advice Updated Several Times Daily
7 day Mortgage Interest Rate lock or Float Advice: FLOAT
Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.18 point.
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK.
Rates could easily move higher or lower, but given the nearness to all time lows, there's generally more risk than reward regarding floating so my advice is to lock.
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.66%
MBS (3.5%) - 105.06, High: 105.14, Low: 104.66
DJI Stocks currently $12,580.99, Down $-59.79, Change -0.475%
Asian & European Stock Market Indexes Down -1.77%
Nymex Crude Oil Currently $78.95 Down $0.81
Gold 1 Once - $1,572.10
MORTGAGE NEWS BRIEFS
Compared to a year ago, starts were up 28.5%
U.S. home building slowed in May amid a pull back in multifamily construction, but new permits granted reached their highest level since 2008, suggesting future demand for new houses. Home construction decreased 4.8% last month from April to a seasonally adjusted annual rate of 708,000, the Commerce Department said Tuesday. But compared to a year ago, starts were up 28.5%>> Read More Fox Business