MORTGAGE INTEREST RATE LOCK ADVISORY
July 1, 2014 8:00 AM PST
LOCK ADVISORY
7 Day Close Mortgage Interest Rate lock or Float Advice: LOCK
- The price for 3.50% Mortgage Loans based on MBS is currently Up 0.26 point.
- Prices have steadily improved the previous week and half and it appears to me that we are at a tipping point where prices could go the other way so the safe move is to lock.
Close Mortgage Interest Rate Lock or Float Advice: LOCK
MORTGAGE MARKET INDICATORS
- FHLMC Average: 30-Yr Fixed Mortgage Rate, down 0.03% to 4.14% on June 26.
- MBS (3.5%) - Currently 102.55, High: 102.81, Low: 102.53
- DJI Stocks currently $16,950.29, Up $123.69, Change 0.73%
- Asian & European Stock Market Indexes changed 0.784%
- Crude Oil (WTI) Currently $105.78 - Change 0.39%
- Gold 1 Ounce - $1,327.26
MORTGAGE AND REAL ESTATE NEWS
U.S. Bancorp To Pay $200 Million To Settle Faulty Mortgage Claims
by MortgageOrb.com -U.S. Bancorp will pay $200 million to resolve claims brought by the Federal Housing Administration (FHA) that it misrepresented the quality of mortgages it sold onto the secondary market from 2006 through 2011, which, in turn, resulted in significant losses for the FHA when borrowers defaulted."By misusing government programs designed to maintain and expand homeownership, U.S. Bank not only wasted taxpayer funds, but inflicted harm on homeowners and the housing market that lasts to this day," says Stuart F. Delery, assistant attorney general for the Justice Department's civil division, in a statement. "As this settlement shows, we will continue to hold accountable financial institutions that violate the law by pursuing their own financial interests at the expense of hardworking Americans." >>Read More Mortgage Orb
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