DailyMORTGAGE LOCK ADVISORY 

June 27, 2012, 6:45am 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 0.03 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%) - 105.03, High: 105.08, Low: 104.97   
DJI Stocks currently $12,578.87,  Up $44.2, Change 0.351%   
Asian & European Stock Market Indexes Up 0.674%   
Nymex Crude Oil Currently $79.65 Up $0.29   
Gold 1 Once - $1,574.84  
       

MORTGAGE NEWS BRIEFS
 

NOTE TO READERS - This article is absolute BS.  But you need to read it because your legislators will attempt to use this type of thinking to do away with your Mortgage Interest Rate deduction.  If you sit tight and do nothing they will take it away!  You need to be angry and contact your legislators.  You also must be aware that academic hacks exist happy to justify any result for pay.

Who Really Benefits from the Mortgage Interest Deduction?
A recent article in Public Finance Review reports on a study of the impact of the federal mortgage interest deduction (MID) not on homebuyer behavior, but rather on interest rates.  The study, conducted by Andrew Hanson of the Department of Economics, Georgia State University, found that it may be mortgage lenders rather than homeowners who are benefitting from the perk.>> Read More Mortgage News Daily 

Education is Consumer's Only Real Protection. 

Your FHA GuruBill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

Website

 

 

 

Bill Ladewig is a Mortgage Broker Licensed by the California Department of Real Estate 00968137

NMLS #291249

 

 

 

 

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3 Comments on Congress Wants to Take Away Your Mortgage Deduction

JUN
27
173,686 Points 2 Featured Posts Called Shot Master

As we do not have enough work for the legislators to do they have to justify how to bring in more money to spend and pad their pockets.

Make yourself a great day
6:45am • #1
405,185 Points 15 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

Good morning Bill. Seems like our Goverment spends way too much time tweaking things that aren't broke and not enough time looking at what will happen after they throw a patch on it. Yikes.
6:57am • #2
NOV
08
118,080 Points

Excellent information I will forward it if that is ok? thank you!!!
8:44am • #3


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Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970

Escondido, CA

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Address: San Diego, Escondido, Vista, San Marcos, Oceanside, Rancho Bernardo, Poway, Scripps Ranch, Penasquitos, Shadowridge, Rancho Del Oro, Escondido, CA, 92025

Office Phone: (866) 204-9733

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