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PM Rate Lock Advice & Mortgage Market Update
Rate Lock Advice & Mortgage Market Update
DAILY RATE LOCK ADVICEMarch 25, 2010, 1:15 PTLock Advice is Updated Several Times Daily
Short Term Lock Advice for today's must lock loans:  LOCK.  After yesterday's largest drop in over 6 months today's MBS prices roller coasted from up 4/32 to a low of -13/32 causing several lenders to repost unfavorable midmorning rate changes.  Presently, MBS prices are down 1/32 and the threat of further rate hikes has eased.Jobless Claims came in a little lower than expected.Interest rates run opposite MPS prices
Long Term Lock or Float Advice:  LOCK.After a couple of meandering weeks, yesterday the market resumed it's direction downward.  Lock ASAP.
National Average Fixed Rate Mortgage UP 0.05% at 5.03% on Mar.25
MBS Yields Opened at 4.838% Up 0.148%.
10 Year Treasury Currently 3.840% Up 0.15%
DJI Stocks Closed at $10,841.21,  Up 5.06, 0.05%
European and Asian Markets closed Up 0.767%
Nymex Crude Oil Currently $80.27 Down $0.34
B of A agrees to cut loan amounts for underwater borrowers.  National Mortgage News US Housing Price Index Declined 6% from December to January News Release 11-year-old boy buys property worth $44 mn in Dubai  The Economic Times USDA Rural Housing Funds to Run Dry by April. ... more

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