MORTGAGE INTEREST RATE LOCK ADVISORY
February 25, 2016, 7:45 AM PST
FEATURED LOAN
- FHA 203K Renovation Mortgage
- Renovate and Purchases or Refinance with one loan.
- 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
- Recommendations can change throughout the day.
MORTGAGE MARKET INDICATORS - Click for current Markets
- Freddie Mac Average:30-Yr FRM, down 0.03 at 3.62% on 2-25-16.
Rate Price Based on 3% MBS, Down -0.14 Point.
DJI Stocks - Currently, $16,521.77, Up $36.78 0.22%
Asian & European Stock Market Indexes Up 0.186%
Crude Oil (WTI) - Currently, $31.48, Down ($0.67)
Gold 1 Ounce - Currently, $1,238.50, Down ($2.60)
MARKET REPORTS & ANALYSIS
- 30-year fixed-rate mortgage (FRM) averaged 3.62 percent with an average 0.6 point for the week ending February 25, 2016, down from last week when it averaged 3.65 percent. A year ago at this time, the 30-year FRM averaged 3.80 percent.
- January Headline Durable Goods Were Much Stronger than Expected at 4.9% versus expected 2.5% and are negative for Mortgage pricing causing us to test our floor of support this morning.
- Home sales dropped 9.2 per cent in January. There was a sharp fall in sales of newly-built single-family homes in January. The 9.2 per cent drop took sales to a seasonally-adjusted rate of 494,000 units according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Burea
NEWS LINKS
- Thursday AM Brief
- The Week Ahead: Will the GDP Bounce Back?
- No More VA Loan Limit Cap or Seller Mandatory Fees
- Oil extends rally to $35 after Iran welcomes output freeze
- Ellie Mae: Average Days To Close Increased Again In January
- House Flipping Is Making a Comeback in Las Vegas
- Mortgage refinance applications spike thanks to low rates
- A caboose in the woods
- Mile-high skyscraper set to be world's tallest and twice as tall as the Burj Khalifa
- Zillow founder: Is virtual touring next for the housing market?
HOW TO PROPERLY PLACE NEW EMPLOYEES. (Thanks to Marcus L. for this one.)
1. Put 400 bricks in a closed room.
2. Put your new hires in the room and close the door.
3. Leave them alone and come back after 6 hours.
4. Then analyze the situation:
a. If they are counting the bricks, put them in the Accounting Department.
b. If they are recounting them, put them in Auditing.
c. If they have messed up the whole place with the bricks, put them in Engineering.
d. If they are arranging the bricks in some strange order, put them in Planning.
e. If they are throwing the bricks at each other, put them in Operations.
f. If they are sleeping, put them in Security.
g. If they have broken the bricks into pieces, put them in Information Technology.
h. If they are sitting idle, put them in Human Resources.
i. If they say they have tried different combinations, they are looking for more, yet not a brick has been moved, put them in Sales.
j. If they have already left for the day, put them in Management.
k. If they are staring out of the window, put them in Strategic Planning.
l. If they are talking to each other, and not a single brick has been moved, congratulate them and put them in Top Management.
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