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Mortgage Rates Reach Two Month Highs.
DailyMORTGAGE LOCK ADVISORY 
August 16, 2012, 9:00 am PST
Click for Lock Advice Updated Several Times Daily
      
7 day Mortgage Interest Rate lock or Float Advice: LOCK Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.09 point.  30 Day Mortgage Interest Rate Lock or Float Advice: LOCK. Rates could easily move higher or lower, but given the nearness to all time lows, there's generally more risk than reward regarding floating so my advice is to lock.
 
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.59% MBS (3.5%) - 104.63, High: 104.72, Low: 104.53   DJI Stocks currently $13,220.66,  Up $55.88, Change 0.423%   Asian & European Stock Market Indexes Up 1.555%   Nymex Crude Oil Currently $95.08 Up $0.75   Gold 1 Once - $1,615.35          MORTGAGE NEWS BRIEFS 
  
Mortgage Rates Reach Two Month Highs.
Mortgage Rates made an abrupt move higher today, leaving most lenders at their worst levels since early June.  Recent momentum has carried rates in a weaker direction despite a relative lack of impetus from underlying market events.  At first, this could be chalked up to low volume volatility, but volume surged today (yesterday too, to a smaller extent), and securities in rates markets hit levels not seen in months.  All told, it ... more

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