MORTGAGE INTEREST RATE LOCK ADVISORY
August 11, 2016, 8:00 AM PT
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 0.02% to 3.45% on 8-11-16.
- Rate Price Based on 3% MBS, Up 0.06 Point.
- DJI Stocks - Currently, $18,609.89, Up $114.23 0.61%
- Asian & European Stock Market Indexes Up 0.182%
- Crude Oil (WTI) - Currently, $42.68, Up $0.97
- Gold 1 Ounce - Currently, $1,353.80, Up $5.30
MARKET REPORTS & ANALYSIS
Today's jobs data continues to impress, we do see some inflationary data in import prices which the market was not expecting. Generally a tad negative for pricing but we are stuck in a narrow range.
Rates Currently Trending: Neutral - Prices are unchanged early this morning. Yesterday mortgage rates were down 0.10 point.
30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending August 11, 2016, up from last week when it averaged 3.43 percent. A year ago at this time, the 30-year FRM averaged 3.94 percent.
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Rates Currently Trending: Neutral - Prices are unchanged early this morning. Yesterday mortgage rates were down 0.10 point.
30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending August 11, 2016, up from last week when it averaged 3.43 percent. A year ago at this time, the 30-year FRM averaged 3.94 percent.
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NEWS LINKS
- 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
Once there was a little boy that lived in the country with his father. They had to use an outhouse, and the little boy hated it because it was hot in the summer and cold in the winter - and stank all the time. The outhouse was sitting on the bank of a creek and the boy determined that one day he would push that outhouse into the creek.
One day after a spring rain, the creek was swollen and the little boy decided that that was the day to push the outhouse into the creek. So he got a large stick and started pushing. Finally, the outhouse toppled into the creek and floated away. That night his dad told him they were going to the woodshed after supper. Knowing that meant a spanking, the little boy asked why.
The dad replied, "Someone pushed the outhouse into the creek today. It was you, wasn't it son?"
The boy answered yes. Then he thought a moment and said, "Dad, I read in school today that George Washington chopped down a cherry tree and didn't get into trouble because he told the truth."
The dad replied, "Well, son, George Washington's father wasn't in the cherry tree."
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