MORTGAGE INTEREST RATE LOCK ADVISORY
September 2, 2016, 8:00 AM PT
FEATURED LOANS
- REVERSE MORTGAGE (HECM)
- Financial Freedom for Qualified Seniors
- Click for Reverse Mortgage Details
- 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 0.03 point at 3.46% on 9-1-16.
Rate Price Based on 3% MBS, Up 0.13 Point.
DJI Stocks - Currently, $18,507.78, Up $88.48 0.48%
Asian & European Stock Market Indexes Up 0.362%
Crude Oil (WTI) - Currently, $44.18, Up $1.02
Gold 1 Ounce - Currently, $1,320.60, Up $4.30
MARKET REPORTS & ANALYSIS
- Today's employment data was weaker than expected but more importantly - weaker than was needed for a Sept rate hike. This is positive for pricing.
- Mortgage rate prices are up slightly this morning. Mortgage rates prices moved up 0.10 point Thursday. This was not enough to increase mortgage rates or fees. The market experienced moderate to low volatility yesterday.
- 30-year fixed-rate mortgage (FRM) averaged 3.46 percent with an average 0.5 point for the week ending September 1, 2016, up from last week when it averaged 3.43 percent. A year ago at this time, the 30-year FRM averaged 3.89%.
NEWS LINKS
- Friday AM Brief
- Mortgage rates wander higher but remain near yearly lows
- FTC permanently bans mortgage modification scammers
- HARP Extended; FHFA Offers High LTV Refi Option
- FHA Loans : Still The Best Choice For Many Home Buyers
- FHA Condo Relief Coming: President Signs Bill
- Reverse mortgages may be the hot new retirement planning too
- Renovation loans allow more people to buy homes
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