MORTGAGE INTEREST RATE LOCK ADVISORY
August 6, 2013 :1:25: PM PST
LOCK ADVISORY
7 Day Mortgage Interest Rate lock or Float Advice: LOCK
The cost for a 3.50% rate based on Mortgage Backed Securities is up 0.14 point
Lock on any improvement
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
MARKET INDICATORS
- National Average for 30-Yr Fixed Mortgage Rate is up to 4.39% on August 1,.
- MBS (3.5%) Currently 100.65, High: 100.85, Low: 100.51
- DJI Stocks closed at $15,518.74, Down $-93.39, Change -0.602%
- Asian & European Stock Market Indexes changed 0.019%
- Crude Oil (WTI) Currently $105.42 - Change -1.07%
- Gold 1 Once - $1,383.90
MORTGAGE and REAL ESTATE NEWS
BofA Preps for Storm of Litigation
By Robert Ottone - Charlotte, N.C.'s Bank of America (BofA) is one of six banks being investigated by the U.S. Department of Justice (DOJ), New York Attorney General Eric T. Schneiderman and the Securities & Exchange Commission (SEC) for shady regulator activity during the financial crisis. The letters sent out by Schneiderman reportedly call for information regarding a record of banking transgressions including overdrawn accounts, bounced checks and fees in an effort to protect against future fraud and risky customers. The DOJ is currently planning on filing two civil charges against BofA regarding jumbo prime mortgage securitizations. The SEC is piggybacking on the DOJ's charges. >>Read More National Mortgage Professional
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