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Mortgage Market & Lock Commentary - 12-29-2011
DAILY MORTGAGE LOCK ADVISORY December 29, 2011, 12:30 PM PST Click for Lock Advice Updated Several Times Daily Mortgage Interest Rate lock Advice for locks within 7 days: FLOATMortgage Points based on 3.5% Mortgage Backed Securities are down 0.14 point. 30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates. MORTGAGE MARKET INDICATORS National Average Fixed Rate Mortgage 3.91% MBS (3.5%) - 102.7, High: 102.81, Low: 102.5 DJI Stocks currently $12,273.34, Up $121.93, Change 0.993% Asian & European Stock Market Indexes Up 0.412% Nymex Crude Oil Currently $99.68 Up $0.32 MORTGAGE NEWS BRIEFS Signs show strategic default on the decline New Survey Finds 59% of Homeowners Would Not Consider Strategic Default RealtyTrac is calling 2011 the year of foreclosure litigation, strategic default, failing foreclosure law firms and shadow inventory. It also was a year of infighting between regulators, underwater mortgages and the year when Mortgage Electronic Registration Systems faced suits over everything from its business model to its assignment procedures. Read More Housing ... more
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