MORTGAGE INTEREST RATE LOCK ADVISORY
November 29, 2016, 7:50 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
Reverse Mortgages Provide Senior Financial Security.
- 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.
- Tuesday AM Brief
- Congress could play Grinch this Christmas for homeowners
- Mortgage Rates: Higher for the Holidays
- Conforming loan limits increase for first time since 2006
- Less than 1 year left for more than 200K HARP eligible borrowers
- Major trade groups urge Congress to renew two major homeowner tax provisions
- Financial planners warming to reverse mortgages
- Fannie and Freddie Lowering Underwriting Barriers
- Mortgage Brokers are Grabbing a Larger Market Share
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