MORTGAGE INTEREST RATE LOCK ADVISORY
August 5, 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, down 0.05% to 3.43% on 8-4-16.
- Rate Price Based on 3% MBS, Up 0.25 Point.
- DJI Stocks - Currently, $18,499.32, Up $147.27 0.8%
- Asian & European Stock Market Indexes Up 0.589% \
- Crude Oil (WTI) - Currently, $41.12, Down ($0.81)
- Gold 1 Ounce - Currently, $1,339.40, Down ($23.60)
MARKET REPORTS & ANALYSIS
- Non Farm Payrolls (NFP) for July and June hotter than expected and Wages up more than expected is Negative for pricing
- 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.5 point for the week ending August 4, 2016, down from last week when it averaged 3.48 percent. A year ago at this time, the 30-year FRM averaged 3.91 percent.
NEWS LINKS
- Friday AM Brief
- Home sales are rising, so why isn't inventory going up?
- FHA Condo Relief Coming: President Signs Bill
- California home sales explode 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
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MORNING COFFEE
Joe and Joan were sitting down to their usual morning cup of coffee listening to the weather report on the radio. "There will he three to four inches of snow today, and a snow emergency has been declared and cars must park on the odd-numbered side of the streets."
Joe said, "Gees, okay'." and got up from his coffee.
The next day they were sitting down with their morning cups of coffee. The weather forecast was, "There will he two to four inches of snow today, and a snow emergency has been declared. You must park your cars on the even-numbered side of the streets."
Again Joe replied, "Gees, okay!" and got up from his coffee.
Two days later, again they're sitting down with their cups of coffee and the weather forecast said, "There will he six to eight inches of snow today, and a snow emergency has been declared. You most park your cars on the-." And the power went out and
Joe didn't get the rest of the instructions.
He turned to Joan. "Gees, what am I going to do now, Joan'. Joan replied, "Aw, Joe, just leave the car in the darned garage today."
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