MORTGAGE INTEREST RATE LOCK ADVISORY
July 29, 2016, 7:55 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: LOCK after three days of improvement.
- 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 3.48% on 7-28-16
- Rate Price Based on 3% MBS, Down -0.08 Point.
- DJI Stocks - Currently, $18,423.89, Down ($32.46) -0.18%
- Asian & European Stock Market Indexes Down -0.287%
- Crude Oil (WTI) - Currently, $40.73, Down ($0.41)
- Gold 1 Ounce - Currently, $1,348.40, Up $11.40
MARKET REPORTS & ANALYSIS
- Rates down again this morning and were down 0.28 point on Wednesday and 0.13 point on Thursday.
- LOCK: it would be a good idea to lock short term closings after a three day run at their best prices in two weeks.
- Friday: 2nd QTR GDP was much lower than expected and is positive for pricing
- Thursday, 30-year fixed-rate mortgage (FRM) averaged 3.48 percent with an average 0.5 point for the week ending July 28, 2016, up from last week when it averaged 3.45 percent. A year ago at this time, the 30-year FRM averaged 3.98 percent.
NEWS LINKS
- California families priced out of housing in top school districts
- 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
Signs of the times?
Outside a Muffler Shop: "No appointment necessary. We hear you coming."
In a Veterinarian's waiting room: "Be back in 5 minutes. Sit! Stay!"
At the Electric Company: "We would be delighted if you send in your payment on time. However, if you don't, YOU will be de-lighted."
In a Restaurant window: "Don't stand there and be hungry; come on in and get fed up."
In the front yard of a Funeral Home: "Drive carefully. We'll wait."
At a Propane Filling Station: "Thank Heaven for little grills."
In a Chicago Radiator Shop: "Best place in town to take a leak."
On an Electrician's truck: "Let us remove your shorts."
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