MORTGAGE INTEREST RATE LOCK ADVISORY
July 27, 2016, 8:00 AM PST
FEATURED LOANS
- REVERSE MORTGAGE (HECM)
- Financial Freedom for Qualified Seniors
- Click for Reverse Mortgage Details
LOCK ADVISORY -
Click for current Lock Advice
- 1-14 Day Close: FLOAT With Caution
- 15-30 Day Close: FLOAT With Caution
- 31-45 Day Close: FLOAT With Caution
- Recommendations can change throughout the day.
MORTGAGE MARKET INDICATORS
- Weekly Average 30-Yr FRM, up 0.03% to 3.45% on 7-21-16.
- Rate Price Based on 3% MBS, Down -0.13 Point.
- DJI Stocks - Currently, $18,472.00, Down ($1.75) -0.01%
- Asian & European Stock Market Indexes Up 0.402%
- Crude Oil (WTI) - Currently, $42.65, Down ($0.27)
- Gold 1 Ounce - Currently, $1,328.30, Up $4.90
MARKET REPORTS & ANALYSIS
- Bad News is Good News For Rates. Today's much weaker than expected June Headline Durable Goods Orders and Ex Transportation data is generally positive for pricing.
- The MBS Market remains historically oversold indicating the strong possibility of rate improvement in the next few days yet rate prices are up slightly today and my lock recommendation remains... Float With Caution.
- 30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending July 21, 2016, up from last week when it averaged 3.42 percent. A year ago at this time, the 30-year FRM averaged 4.04 percent.
NEWS LINKS
- Wednesday AM Brief
- SEC busts two men for $7M mortgage Ponzi schem
- California home sales explode in June
- Purchases increased to 65 percent of all closed loans in June,
- FHA to begin insuring mortgages with PACE solar loans
- Updated Desktop Underwriter (DU) coming soon after unexpected delay,
- Reverse mortgages may be the hot new retirement planning too
- Renovation loans allow more people to buy homes
A priest went into a Washington, D.C., barbershop, got his hair cut and asked how much he owed. "No charge, Father," the barber said. "I consider it a service to the Lord." when the barber arrived at his shop the next morning, he found a dozen small prayer booklets on the stoop along with a thank you note from the priest.
A few days later a police officer came in. "How much do I owe you?" the cop asked after his haircut. "No charge, officer," the barber answered. "I consider it a service to my community." The next morning the barber found a dozen doughnuts on the stoop along with a thank you note from the police officer.
A few days after that, a Senator walked in for a haircut. "How much do I owe you?" he asked afterward. "No charge," the barber replied. "I consider it a service to my country." The next morning when he arrived at the shop, the barber found a dozen Senators waiting on the stoop.
Comments(0)