DailyMORTGAGE LOCK ADVISORY 

July 25, 2012, 6:30 am PST

Click for Lock Advice Updated Several Times Daily

      

7 day Mortgage Interest Rate lock or Float Advice: LOCK Mortgage Points based on 3.5% Mortgage Backed Securities are Up 0.07 point.  After a long drop rates are due for a correction.


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 3.53%
MBS (3.5%) - 106.23, High: 106.31, Low: 106.19   
DJI Stocks currently $12,698.45,  Up $81.13, Change 0.639%   
Asian & European Stock Market Indexes Up 0.546%   
Nymex Crude Oil Currently $88.89 Up $0.39   
Gold 1 Once - $1,602.57
       

MORTGAGE NEWS BRIEFS 

  

Home Prices Continue Gradual Rise, but is Calling a Bottom Premature?
There was general agreement on the increase in home price levels in May in data released from by two different sources this morning>> Read More in Mortgage News Daily

 

Mortgage Rates Crush Previous All-Time Lows
Mortgage Rates are on an undisputed tear, moving more today than any day in the past 3 weeks of progressive movement into new all-time lows. The week began much like the previous week ended, with concerns over the European financial system pulling all manner of 'safe-haven' bond yields lower, among them MBS (the Mortgage-Backed-Securities that most directly influence mortgage rates). Once again, there was nothing on the domestic economic calendar and corporate earnings had little effect next to news... >>Mortgage News Daily

 

U.S. Housing Starts Jump 6.9% in June

Dow Jones Newswires U.S. home building rose in June to the highest level in nearly four years, confirming that the housing market has finally started to boost the struggling economy after a prolonged bust.  Home construction increased 6.9% last month from May to a seasonally adjusted annual rate of 760,000, the Commerce Department said Wednesday. Compared with a year ago, starts were up 23.6>>Read More Fox Business

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 Home Prices Continue Gradual Rise, but is Calling a Bottom Premature?

JUL
25
472,973 Points 12 Featured Posts Attended Rain Camp Called Shot Master

Bill, thanks for compiling this information.  Let's hope the number continue to move in the right direction.
6:44am • #1
489,497 Points 7 Featured Posts Outside Blog

Sharon, thanks for your comment.  I think we have passed the bottom.
6:49am • #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

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