DailyMORTGAGE LOCK ADVISORY 

July 16, 2012, 7:00 am 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 3.56%
MBS (3.5%) - 105.88, High: 105.88, Low: 105.69   
DJI Stocks currently $12,713.02,  Down $-64.07, Change -0.504%   
Asian & European Stock Market Indexes Down -0.492%   
Nymex Crude Oil Currently $87.20 Up $0.10   
Gold 1 Once - $1,588.78 
       

MORTGAGE NEWS BRIEFS
 

CoreLogic Reports 700,000 Homes Emerge from Negative Equity
There was heartening news this morning from CoreLogic which reports that nearly three-quarters of a million homes emerged from negative equity between the fourth quarter of 2011 and the first quarter of 2012. At the end of Q1 11.4 million homes, or 23.7 percent of all mortgaged residential properties>> Read More Mortgage News Daily

 

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

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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2 Comments on CoreLogic Reports 700,000 Homes Emerge from Negative Equity

JUL
16
226,289 Points 4 Featured Posts Outside Blog Called Shot Master

That positive news - 700000 homes turning to positive equity - the recovery at work. Regards Dave
7:38am • #1
489,497 Points 7 Featured Posts Outside Blog

Proof we are past the bottom of the market.  Tell your fence sitting buyers.
8:10am • #2


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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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