DailyMORTGAGE LOCK ADVISORY 

July 28, 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 0.15 point.  After a long run up it may be time 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%) - 105.95, High: 106.09, Low: 105.91   
DJI Stocks currently $12,910.37,  Up $22.44, Change 0.174%   
Asian & European Stock Market Indexes Up 1.186%   
Nymex Crude Oil Currently $89.68 Up $0.29   
Gold 1 Once - $1,622.60 
       

MORTGAGE NEWS BRIEFS 

  

The MegaBanks: Slowing Loan Originations on Purpose? by Paul Muolo
You might say the megabanks - for now - are sitting in the catbird seat. They have more loan applications than they know what to do with - and they have no desire whatsoever to add more staff to handle the volume, because, well, that's what happens when you have a cartel. (I'm sure there's some unemployed LOs or underwriters out there who could use a job.) Read More Originatin News

 

Psychology Of Fraud: Why Good People Do Bad Things By Chana Joffe-Walt and Alix Spiegel
Worldcom, Bernie Madoff, the subprime mortgage crisis.  Over the past decade or so, news stories about unethical behavior have been a regular feature on TV, a long, discouraging parade of misdeeds marching across our screens. And in the face of these scandals, psychologists and economists have been slowly reworking how they think about the cause of unethical behavior. Read More on NPR

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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5 Comments on Mega Banks and The Psychology Of Fraud

JUL
27
294,661 Points

No wonder so many people get themselves stuck, all this information coming at them can be too much!
6:36am • #1
488,729 Points 7 Featured Posts Outside Blog

Bud and Beth, thanks for your comment.  It is definitely is getting more complicated, in some cases unnecessarily so.
6:41am • #2
654,616 Points 56 Featured Posts Outside Blog Called Shot Master

Bill...this truly makes no sense to me. Why are the banks hurting our economy this way?
6:51am • #3
488,729 Points 7 Featured Posts Outside Blog

Jeffrey, thanks for weighing in.  The answer is: because it is in their own self interest.  It has been shown again and again that the majority of big bankers care nothing except for their own income and thier company's, in that order.  (ha, I first spelled order, oder which may be more appropriate)
7:05am • #4
303,702 Points 8 Featured Posts Outside Blog Attended Rain Camp

who would have ever guessed we would see these kind of interest rates again after they were at 10 and 12% not so many years ago.
8:30am • #5


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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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