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Will Underwater Homeowners Lead to Higher Prices?

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

DailyMORTGAGE LOCK ADVISORY 

July 18, 2012, 6:30 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 0.19 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%) - 105.95, High: 105.95, Low: 105.75   
DJI Stocks currently $12,764.45,  Down $-41.09, Change -0.322%   
Asian & European Stock Market Indexes Down -0.194%   
Nymex Crude Oil Currently $89.02 Down $0.20   
Gold 1 Once - $1,574.44  
       

MORTGAGE NEWS BRIEFS
 

Will Underwater Homeowners Lead to Higher Prices? By Krista Franks Brock
Underwater homeowners are contributing to a lower inventory of houses for sale on the market, but according to Capital Economics negative equity will not have a major impact on housing prices.

 

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