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MORTGAGE INTEREST RATE LOCK ADVISORY 11/29/16

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
November 29, 2016, 7:50 AM PT 

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Reverse Mortgages Provide Senior Financial Security.
MARKET INDICATORS
  • Average 30-Yr FRM, up 0.09 points to 4.03% on 11-23-16
  • Rate Price Based on 3.5% MBS, Up 0.05 Point.
  • DJI Stocks - Currently, $19,096.81, Down ($1.09) -0.01%
  • Asian & European Stock Market Indexes Down -0.282%
  • Crude Oil (WTI) - Currently, $45.33, Down ($1.75)
  • Gold 1 Ounce - Currently, $1,189.80, Down ($4.50)
MARKET REPORTS & ANALYSIS    
  • Rate Lock Advisory. Lock on up ticks. While rates improved slightly yesterday they are up again this morning.  Overall, rates show no sign of improving in this uncertain market.. 
  • Tuesday's Market Data: 
    • The first revision to the 3rd QTR GDP came in at 3.20% versus estimates of 3.00%. A little stronger than expected, generally GDP above 3.00% is very negative for bonds. 
    • November Consumer Confidence 107.1 versus industry's estimate of 100.0. This is a very strong reading and generally negative for pricing
  • Monday's Mortgage Market: prices for rates based on Mortgage Backed Securities (MBS) closed down 0.35 point.
  • 30-year fixed-rate mortgage (FRM) averaged 4.03 percent with an average 0.5 point for the week ending November 23, 2016, up from last week when it averaged 3.94 percent. A year ago at this time, the 30-year FRM averaged 3.95 percent.
     
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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.