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MORTGAGE INTEREST RATE LOCK ADVISORY 12/27/16

By Bill Ladewig

Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

December 27, 2016 08:01 AM

Ladewig AM Brief

Your Morning Market Update

MORTGAGE INTEREST RATE LOCK ADVISORY

December 27, 2016, 8:00 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

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MARKET INDICATORS

Average 30-Yr FRM, up 0.14 points to 4.30% on 12-22-16
Rate Price Based on 3.5% MBS, Up 0.12 Point.
DJI Stocks - Currently, $19,965.71, Up $31.90 0.16%
Asian & European Stock Market Indexes Up 0.207%
Crude Oil (WTI) - Currently, $53.66, Up $0.64
Gold 1 Ounce - Currently, $1,139.60, Up $4.80

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MARKET REPORTS & ANALYSIS

Rate Lock Advisory. Remains the same since November 8. Lock on any price improvement.. News and technical indicators provide no sign of rates changing direction. In this uncertain market. Float rates at your own risk.
Tuesday's Market: December Consumer Confidence 113.7 versis industry estimate of 108.5. Generally, this good news is negative for pricing.
Friday's Mortgage Results: Prices for mortgage rates based on Mortgage Backed Securities (MBS) closed Down 0.03 point.
30-year fixed-rate mortgage (FRM) averaged 4.30 percent with an average 0.5 point for the week ending December 22, 2016, up from last week when it averaged 4.16 percent. A year ago at this time, the 30-year FRM averaged 3.96 percent.

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Humor is a rubber sword - it allows you to make a point without drawing blood. ~ Mary Hirsch

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IMPORTANT NOTICE

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.