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MORTGAGE INTEREST RATE LOCK ADVISORY 8/10/16

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
August 10, 2016, 8:00 AM PST 
 
FEATURED LOANS
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.
     
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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.