MORTGAGE INTEREST RATE LOCK ADVISORY
February 4, 2016, 7:30 AM PST
FEATURED LOAN
- FHA 203K Renovation Mortgage
- Renovate Purchases and Refinances
- All You Need To Know About 203K
LOCK ADVISORY - Click for current Lock Advice
- 1-14 Day Close: LOCK
- 15-30 Day Close: FLOAT With Caution
- 31-45 Day Close: FLOAT With Caution
- Recommendations can change throughout the day.
MORTGAGE MARKET INDICATORS - Click for current Markets
- Freddie Mac Average:30-Yr FRM, Down 0.07 point on: 2-4-16 to: 3.72%
- Rate Price Based on 3.5% MBS, Down -0.10 Point.
- DJI Stocks - Currently, $16,425.14, Up $88.48
- Asian & European Stock Market Indexes Up 0.847%
- Crude Oil (WTI) - Currently, $33.27, Up $0.99
- Gold 1 Ounce - Currently, $1,153.00, Up $9.60
MARKET REPORTS & ANALYSIS
- Lock short term closings. Currently, the odds of a short term rate increases outweighs the odds of lower rates in the near future. Several market indicators forecast a temporary rate increase.
- Last week, central bankers in the U.S. and Japan acknowledged the slowdown in global growth, which was positive for mortgage rates. Recent economic reports supported the outlook for slower economic growth. As a result, mortgage rates ended the week lower.
- Bank of Japan's move to negative interest rates Friday morning caused a stampede into U.S. bonds and is great for mortgage rates. The move by Japan almost assures the Fed can't increase the Fed Funds rate in March and likely not until the middle of the year at the earliest.
NEWS LINKS
- Thursday AM Brief
- Mortgage rates drop to lowest level since 2013
- Is Getting a Mortgage Loan Becoming Easier?
- Japan adopts negative interest rate in surprise move
- Mortgage industry divided over cuts to FHA mortgage insurance.
- 319 Square-Foot Revolutionary Tiny Home Sleeps Eight People.
- Are FICO scores becoming a thing of the past?
- Its a great tome to buy a home.
- Utah real estate company charged with operating $28 million Ponzi scheme
- Rising Home Equity, Outstanding Mortgage Debt Indicate a Healthy Housing Market
- HomeReady Mortgage Could Make Many New Homeowners in 2016
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