DailyMORTGAGE LOCK ADVISORY
July 13, 2012, 6:30 am PST
Click for Lock Advice Updated Several Times Daily
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
MBS (3.5%) - 105.74, High: 105.75, Low: 105.69
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Asian & European Stock Market Indexes Down -0.074%
Nymex Crude Oil Currently $86.30 Up $0.22
Gold 1 Once - $1,586.10
MORTGAGE NEWS BRIEFS
Wells Fargo Settles Race Claims, Exits Wholesale Originations By Ryan Schuette
Wells Fargo wrote a check for $175 million on Thursday to settle claims that independent brokers drove a disproportionate number of otherwise creditworthy minority borrowers to higher-priced variable mortgages in the lead-up to the financial crisis. Wells Fargo denied any of the claims and took action Thursday to stop originating loans with independent mortgage brokers by Friday, a move that it billed as one separate from the settlement and ensuing controversy. The lender will work to close and process existing applications after Friday. >>Read More MReport
The Biggest Banking Scandal The World Has Ever Seen
TBWS Show Apologies for the bad link yesterday. Sroll down past today's show. This is worth seeing
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