MORTGAGE INTEREST RATE LOCK ADVISORY
August 10, 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, Down -0.04 Point.
- DJI Stocks - Currently, $18,491.86, Down ($41.19) -0.22%
- Asian & European Stock Market Indexes Down -0.295%
- Crude Oil (WTI) - Currently, $42.15, Down ($0.62)
- Gold 1 Ounce - Currently, $1,348.10, Up $4.90
MARKET REPORTS & ANALYSIS
- 2nd QTR Preliminary Unit Labor Costs and Non-Farm Productivity are up and both readings are generally negative for pricing and may cause us to once again test our support level.
Rates Currently Trending: Neutral
Yesterday mortgage rates were Down 0.02 point. Last week the MBS market worsened by -21 bps. This was enough to worsen mortgage rates or fees. The MBS market was volatile last week.
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
- Wednesday AM Brief
- FHA Loans : Still The Best Choice For Many Home Buyers
- Judge Sues Homeowner in Foreclosure Case
- CFPB adopts new rules to protect homeowners who fall behind
- FHA Condo Relief Coming: President Signs Bill
- 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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A couple quick ones...
What do you call a man that lost all of his intelligence?
A widow.
Why does it take 100 million sperm to fertilize one egg?
Because not one will stop and ask for directions.
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