MORTGAGE INTEREST RATE LOCK ADVISORY
October 4, 2016, 8:00 AM PT
- 1-15 Day Close: LOCK
- 16-30 Day Close: LOCK
- 31-45 Day Close: LOCK
- Recommendations can change throughout the day.
- Click for current Lock Advice
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MORTGAGE MARKET INDICATORS
- 9-29-16: Average 30-Yr FRM, down 0.06 point at 3.42%.
- Rate Price Based on 3% MBS, Up 0.07 Point.
- DJI Stocks - Currently, $18,292.09, Up $38.24 0.21%
- Asian & European Stock Market Indexes Up 0.51%
- Crude Oil (WTI) - Currently, $48.96, Up $0.15
- Gold 1 Ounce - Currently, $1,286.00, Down ($26.60)
MARKET REPORTS & ANALYSIS
- Mortgage rates Higher again on Monday. Yesterday, rates prices were up 0.06 point. This was not enough to move mortgage rate fees. The market experienced moderate volatility.
- Very nice reading in ISM MFG as August was below 50 (49.4) so that number appears to be a hiccup and not a trend. Overall, yesterday's ISM MFG reading was a slight negative for pricing.
- 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending September 29, 2016, down from last week when it averaged 3.48 percent. A year ago at this time, the 30-year FRM averaged 3.85 percent.
NEWS LINKS
- Tuesday AM Brief
- Shortage of real estate appraisers is hurting the housing market
- Brother and Sister in court over mortgage fraud
- The Week Ahead: Job Situation May Recovered
- The new normal: National average time to close settles at 46 days
- FHA Condo Relief Coming: President Signs Bill
- Reverse mortgages is the hot new retirement planning tool
Have you ever noticed that anybody driving slower than you is an idiot,
and anyone going faster than you is a maniac?
George Carlin
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