MORTGAGE INTEREST RATE LOCK ADVISORY 11/3/16
Not sure if now is a good time to lock or let your rates float? Read the blog below and it might give you the insight that you been looking for. Keep in mind that no one has a crystal ball, however, due to probability of past performances, one can typically determine where the rates are heading.
MORTGAGE INTEREST RATE LOCK ADVISORYNovember 3, 2016, 8:00 AM PT
- 1-15 Day Close: NEUTRAL - see below
- 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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Reverse Mortgages Provide Senior Financial Security.MARKET INDICATORS
- Average 30-Yr FRM, up 0.07 points to 3.54% on 11-3-16
- Rate Price Based on 3% MBS, Up 0.03 Point.
- DJI Stocks - Currently, $17,984.99, Up $25.35 0.14%
- Asian & European Stock Market Indexes Up 0.011%
- Crude Oil (WTI) - Currently, $45.12, Down ($0.22)
- Gold 1 Ounce - Currently, $45.12, Down ($0.22)
MARKET REPORTS & ANALYSIS
- 30-year fixed-rate mortgage (FRM) averaged 3.54 percent with an average 0.5 point for the week ending November 3, 2016, up from last week when it averaged 3.47 percent. A year ago at this time, the 30-year FRM averaged 3.87 percent.
- Rate Lock Advisory. Rate prices remain stable this morning. MBS prices are in Overbought territory and that may be signaling for a temporary swing to lower rate prices in the next few days.
- Yesterday's Mortgage Market: rate prices based on Mortgage Backed Securities (MBS) by day's end increased 0.02 point. Rates were not affected. The MBS market experienced medium volatility.
NEWS LINKS_____________________________________________________________________________
- Thursday AM Brief
- Why does it take so long to close a loan? Appraisers
- Two Key Segments Re-emerging Among Homebuyers
- CFPB Warns 44 Mortgage Brokers and Lenders of HMDA Violations
- Fannie and Freddie Lowering Underwriting Barriers
- FINALLY! Justice Department Prepares Suit Against Moodys, Wall Street credit rater.
- Game changer: California is investigating Wells Fargo for identity theft
- Mortgage Brokers are Grabbing a Larger Market Share
- The new normal: National average time to close settles at 46 days
- Reverse mortgages is the hot new retirement planning tool
If you teach your children nothing else, teach them the Golden Rule and "righty-tighty, lefty-loosey." ~Robert Brault____________________________________________________________________Never trust wiring instructions sent via email.Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.CONSUMER EDUCATION = CONSUMER PROTECTION
- Rates and Points Explained
- FHA 203k Renovation Mortgage - Video
- Energy Efficient Mortgages - Video
- What You Should Know About APR
- How To Shop for Mortgage Rates.
- Beware of Misleading Lender Advertising
- Education is the best consumer protection
Bill Ladewig
Real Estate & Mortgage Broker
866.204.9733 Office
760.685.0480 Cell
BRE: 00968137
NMLS: 291249
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