May 5 , 2009, 6:30 AM PST
National Average Fixed Rate Mortgage
Down 1.0 basis point to 4.92% on 05-04-09
*A Basis Point (bps) is 1/100 of 1.00%
Fannie Mae Mortgage Backed Securities (MBS) Down 4.9 basis points to 4.462%
Lock Advice: Lock
Mortgage Mentor indicator, turned up Friday.
DJI Stocks Opened 8,411.29 
-15.45 -0.18%
European and Asian Markets Up 0.26%
10 Year Treasury currently 3.14%
Nymex Crude Oil $ 50.30 barrel, Down $0.17
Fannie MBS Issuance Hits Highest Mark Since 2003
Benefiting from historically low interest rates and a refinancing boom, Fannie Mae issued $87.8 billion in mortgage-backed securities in March, nearly doubling the previous month's volume.
1st Quarter Residential Loan Originations Jump 36%
Thanks to interest rates that were at or near historical lows, residential mortgage lenders saw their loan production jump by 36% in the first quarter, according to preliminary survey figures compiled by National Mortgage News and the Quarterly Data Report.
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Up to a $8000 Tax Credit is available from IRS
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