MORTGAGE INTEREST RATE LOCK ADVISORY
October 18, 2016, 8:00 AM PT
- 1-15 Day Close: Cautiously Float (see below)
- 16-30 Day Close: Cautiously Float
- 31-45 Day Close: Cautiously Float
- Recommendations can change throughout the day.
- Click for current Lock Advice
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MARKET INDICATORS
- Average 30-Yr FRM, up 0.05 points to 3.47% on 10-13-16
- Rate Price Based on 3% MBS, Down -0.05 Point.
- DJI Stocks - Currently, $18,162.49, Up $76.09 0.42%
- Asian & European Stock Market Indexes Up 0.655%
- Crude Oil (WTI) - Currently, $49.87, Down ($0.07)
- Gold 1 Ounce - Currently, $1,261.90, Up $3.80
MARKET REPORTS & ANALYSIS
- My Lock Advice has Remained the same for three days. The MBS market remains deep into oversold territory and historically could be near the end of its current up move. However, the conservative choice is to lock in this uncertain market. If you remain unlocked be very careful.
- Monday rate prices decreased 0.15 point. This was enough to slightly lower rate fees. The market experienced medium volatility.
- 30-year fixed-rate mortgage (FRM) averaged 3.47 percent with an average 0.6 point for the week ending October 13, 2016, up from last week when they averaged 3.42 percent. A year ago at this time, the 30-year FRM averaged 3.82 percent.
NEWS LINKS
- Tuesday AM Brief
- Mortgage Banks and Brokers are Grabbing a Larger Market Share
- Mortgage Bankers: Believe First-Time Homebuyers Will Drive Business in 2017
- Immigrant Homeownership is Bolstering the Housing Market
- 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
Imagination was given to man to compensate him for what he is not;
a sense of humor to console him for what he is.
Francis Bacon
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