December 30, 2008, 8:45 PM PST
Fannie Mae Mortgage Backed Securities (MBS) Up 2.0 basis points (bps) to 4.490%
Monday, FHA Wholesale Rates were Down 20.2 bps from 5.252 on Friday to 5.050%
*A Basis Point (bps) is 1/100 of 1.00%
LOCK
Mortgage Backed Securities are approaching a nuetral zone where the odds are about equal they could continue either up or down. My advice is to lock for the short term.
DJI Stocks Up +153.72 +1.81%
European and Asian Markets Up 0.85%
10 Year Treasury is currently 2.12% Up from 2.10% Monday
Crude Oil Currently $38.79 per barrel.
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