rates: Daily Lock Advisor
- 03/05/08 08:05 AM
Greetings Everyone, What a roller-coaster has this been lately for the rates. We have had 3-4 reprices within the day on and off for a while now. My best advise to a borrower is to be sure that they are comfortable with their purchase and not think about the rate. If you like the rate then lock it and forget about it. I do not believe in timing the market and will never advise anyone to attempt in doing that. The Daily Advisor is a good prognosis. But even then, I would instruct your clients to just make sure that they are comfortable with their purchase … (3 comments)
rates: Daily Lock Advisory
- 02/29/08 09:54 AM
Rate Lock Advisory - Friday Feb. 29th Friday's bond market has opened up sharply again despite stronger than expected economic data. The stock markets are posting sizable losses with the Dow down almost 200 points and the Nasdaq down 35 points. This has made bonds more attractive to investors as they seek safe-haven from the stock volatility. The result has the bond market up 20/32 and mortgage rates improving another .375 of a discount point.January's Personal Income ad Outlays data was released this morning, showing a 0.3% rise in income and a 0.4% increase in spending. Both were a little stronger … (1 comments)
rates: DAILY LOCK ADVISORY - Very important
- 08/16/07 05:17 AM
Visit my website at http://www.loansbyandi.com/ Rate Lock Advisory - Thursday Aug. 16thThursday's bond market has opened in positive territory due mostly to early stock losses. The stock markets are reacting to more credit concerns and overseas losses with the Dow down 134 points and the Nasdaq down 22 points. The bond market is currently up 16.32, but we will still see an increase in this morning's mortgage rates of approximately .250 of a discount point.The Commerce Department reported this morning that starts of new homes fell 6.1% last month, reaching a their lowest level since January 1997. This indicates that the … (0 comments)
rates: New funny Guidelines
- 08/10/07 08:04 AM
I got this e-mail from a friend and I thought it was very funny and sad at the same time. With the recent guideline changes happening almost everyday, this joke is right on the target. Here it goes: Very Important- Guideline Changes Effective August 8, 2007 · All borrowers must have one blue eye and one brown eye to qualify. · LTV > 65% SIVA requires minimum credit score of 849. · For all LTV > 65%, 360 months of payment reserves now required. · Borrower's must have no previous bankruptcies in their family history going back three generations. · A minimum of 25 years self-employment history now required … (5 comments)
rates: Daily Lock Advisory
- 08/10/07 03:38 AM
Rate Lock Advisory - Friday Aug. 10thFriday's bond market has opened in positive territory following early stock losses. The stock markets are posting sizable losses with the Dow down 170 points and the Nasdaq down 48 points. The bond market is currently up 6/32, but we likely will see little change in mortgage rates as a result of weakness in bonds late yesterday.There is no relevant economic news scheduled for release today. The bond market showed some weakness late yesterday after the results of the 30-year Bond sale were announced. As with Wednesday's 10-year Note sale, it was met with a … (0 comments)
rates: Daily Lock Advisory
- 07/27/07 05:51 AM
Rate Lock Advisory - Friday Jul. 27thFriday's bond market has opened slightly in positive territory after this morning's economic news eased inflation concerns. The stock markets are in negative territory again after yesterday's major sell-off. The Dow is currently down 90 points while the Nasdaq has lost 16 points. The bond market is currently up 2/32, which with yesterday's late strength should improve this morning's mortgage rates by approximately another .250 of a discount point.The Commerce Department reported this morning that Gross Domestic Product (GDP) for the 2nd Quarter rose at a 3.4% annual pace. This was a little higher than … (1 comments)
rates: Daily Lock Advisory
- 07/24/07 07:12 PM
Rate Lock Advisory - Tuesday Jul. 24thTuesday's bond market has opened in positive territory as stocks open with sizable losses. The Dow is currently down 96 points while the Nasdaq has fallen 20 points. The bond market is currently up 3/32, which will likely improve this morning's mortgage rates slightly.Tomorrow brings us the release of the week's first economic news with June's Existing Home Sales. This is the first of two housing sector related reports scheduled for release this week. June's New Home Sales will be posted Thursday morning and both are expected to show declines. However, I don't think either … (2 comments)
rates: Daily Lock Advisory
- 07/23/07 03:16 AM
Rate Lock Advisory - Monday Jul. 23rdMonday's bond market has opened in negative territory following early stock gains. The Dow is currently up 71 points while the Nasdaq has gained 9 points. The bond market is currently down 3/32, but we will likely still see a slight improvement in rates as a result of strength in bonds late Friday.This week will be interesting for the bond market and mortgage rates. There are six economic reports scheduled for the financial and mortgage markets to digest, with all of them scheduled for the middle or latter part of the week. In addition, one … (2 comments)
rates: Answer to a comment on the Daily Lock Advisory Below
- 07/20/07 05:31 AM
I thought this answer to Leo would best be served as a new blog entry. Here it goes. I definitely concur with Leo's opinion. Everyone should do their due diligence before advising someone on a lock. Here are some of my sources that I consult with before advising my clients: Daily Lock Advisor, MortgageMarketGuide.com, CNBC Business News and other publications related to the industry. To Lock or not to lock, if we only new the answer for sure. However, I do believe that a well informed professional will be able to advise their clients in a manner that can lower the risk of … (7 comments)
Greetings Everyone,
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