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MORTGAGE INTEREST RATE LOCK ADVISORY 2/26/16

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
February 26, 2016, 7:45 AM PST 
 
FEATURED LOAN
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, Up 0.28 Point. 
    DJI Stocks - Currently, $16,739.38, Up $42.09 0.25%
    Asian & European Stock Market Indexes Up 0.662%
    Crude Oil (WTI) - Currently, $33.90, Up $0.83
    Gold 1 Ounce - Currently, $1,227.00, Down ($13.60)
     
MARKET REPORTS & ANALYSIS     
  • Across the board, this morning's reports are ALL negative for Mortgage Rates.  
January Personal Income 0.50% versus est. 0.40%
Personal Spending 0.50% versus est. 0.30%
Core PCE YOY 1.70% versus est. 1.20%

Feb. Consumer Sentiment 91.70 versus est. 91.00

  • 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. 
NEWS LINKS
 
Words of Wisdom to Get You Through the Weekend.
  • If at first you don't succeed, destroy all evidence that you tried.
  • A conclusion is the place where you got tired of thinking.
  • Experience is something you don't get until just after you need it.
  • The hardness of the butter is proportional to the softness of the bread.
  • To steal ideas from one person is plagiarism; to steal from many is research.
  • The problem with the gene pool is that there is no lifeguard.
  • The sooner you fall behind, the more time you'll have to catch up.
  • The colder the x-ray table, the more of your body is required to be on it.
  • Everyone has a photographic memory; some just don't have film.
  • If at first you don't succeed, skydiving is not for you.
  • If your car could travel at the speed of light, would your headlights work?
David Alan Baker | Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
Your local Expert

Interesting and informative post, thanks for sharing.

Feb 26, 2016 02:54 AM
Bill Ladewig
LoanOfficerSchool.com - Escondido, CA
Experience Is Your Advantage

David,  Thanks much for your comment.  Enjoy a great weekend.

 

Feb 26, 2016 02:59 AM