Tuesday AM Mortgage Market Report 05/19/15

• 1-7 Day Close: LOCK
• 8-14 Day Close: LOCK
• 15-30 Day Close: LOCK

MORTGAGE MARKET INDICATORS

• 7:30AM Pacific  Freddie Mac Average:30-Yr FRM, on: 5-14-15: 3.85% - Up 0.05 Point
• Rate Price Based on 3% MBS - Currently, Up 0.34 Point.
• DJI Stocks - Currently, $18,286.24, Down ($12.64)
• Asian & European Stock Market Indexes Up 1.067%
• Crude Oil (WTI) - Currently, $58.38, Down ($1.03) 
• Gold 1 Ounce - Currently, $1,216.00, Down ($12.00)

MARKET REPORTS & ANALYSIS     

• Rates are volitale and uncertain now is a good time for customers to lock.
• Both April Housing starts and Building Permits were lighter than market expectations but still show significant gains over March. Also March's readings were revised upward slightly. This report does not have the gravitas to move MBS out of our current channel.
• Yesterday, the San Francisco Federal Reserve released their GDP forecasts and in it, they basically doubled the seasonal adjusments which could give the Fed the "data" that they need to justify a rate hike. MBS sold off on this report.