MORTGAGE INTEREST RATE LOCK ADVISORY
November 8, 2016, 7:30 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, Down 0.03 point
- DJI Stocks - Currently, $18,234.57, Down ($25.03) -0.14%
- Asian & European Stock Market Indexes up 0.187%
- Crude Oil (WTI) - Currently, $44.57, Down ($0.32)
- Gold 1 Ounce - Currently, $1,287.00, up $5.80
MARKET REPORTS & ANALYSIS
- Rate Lock Advisory. Rate prices remain stable this morning, continuing to move sideways since 10/28. MBS prices remain in slightly Overbought territory and that could signal a temporary swing to lower rate prices in the next few days.
- Yesterday's Mortgage Market: prices for rates based on Mortgage Backed Securities (MBS) closed up 0.12 point. Some lenders posted afternoon price increases. The MBS market experienced medium volatility.
- 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.
NEWS LINKS
- Tuesday AM Brief
- Time to Talk About Raising The Conforming Loan Limit
- How did alleged serial killer get his real estate license?
- Why does it take so long to close a loan? Appraisers!
- Fannie and Freddie Lowering Underwriting Barriers
- FINALLY! Justice Department Prepares Suit Against Moodys, Wall Street credit rater.
- 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
(You can flip this around to however you see fit; it was sent this way to me.)
An avid Trump supporter pulls up in the parking lot of his polling place and sees a ton of cars.
As he's getting out he spots a neighbor so he goes over to him and he says, "Man! We'll be in there forever in that line."
He continued, "Look, you know I'm going to vote for Trump and I know you're going to vote for Hillary, so why not save ourselves some time and just not vote because even if we do vote we will just cancel each other out."
His neighbor agrees with him.
So, as they're getting back to their cars, a stranger who overheard the conversation said to the Trump supporter. "Wow I didn't know Trump supporters were so nice - you saved your neighbor a lot of time today."
The Trump supporter replied, "Oh, I'm a heck of a lot nicer than you think I am. So far I've helped 12 of my neighbors today."
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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.
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