Rate Lock Advice and Mortgage Market Update

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Rate Lock Advice and Mortgage Market Update

September 9 , 2009, 9:00 AM PT

Lock Advice:  FLOAT
MBS prices are down -2/32. The Fed's Beige Book will be released at 2:00 PM ET., and there will be a 10-yr auction at 2:00 PM ET.

When MBS prices are up, Rates are down.
Lock advice changes throughout the day .
Good economic news = Bad Rate News.

National Average Fixed Rate Mortgage
Down 0.01% at 5.17% on Sep.8

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.805% Up 0.007%.

10 Year Treasury currently 3.50% Up 0.03%

DJI stocks 9,560.67,  Up 63.33, 0.67%

European and Asian Markets Up 0.326%

Nymex Crude Oil currently $70.44 Up $1.00

This morning, the US dollar dropped to the lowest level of the year. Also notable, LIBOR fell to a record low. The Fed's Beige Book will be released at 2:00 PM ET and there will be a 10-yr auction at 1:00 PM ET

The Mortgage Bankers Association weekly purchase activity index rose by 10%, while the refinancing activity index increased by 23%, the biggest jump since March.

The purchase index is now at the highest level since early January. 

Average reported rates for the prior week fell to 5.02% from 5.15% for 30-yr fixed mortgages.

Taylor Bean Whitaker mortgage update - Where to send payments formally sent to bankrupt lender

Worried ManWORRIED ABOUT HVCC AND AN OUT OF TOWN APPRAISER? If you are concerned about the value of your listing and need a local appraiser consider FHA financing where we can still control the appraiser selection.

Read recent HVCC Wall Street Journal Article

Where are the best rates: Mortgage Brokers or Direct Lenders? Rate Survey

The dreaded Stealth Rate Shopper Strikes Ditech full story

Click for inter-day Rate Lock and Market updates

Click for current Lending news and information

Time is Running Out

Time is running out, don't let your buyers delay, the $8,000 Tax Credit is expiring on December 1, 2009.

Up to a $8000 Tax Credit is available from IRS


10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier

Your FHA GuruYour Fha Guru

Bill Ladewig
800.664.SAVE (7283)

The Mortgage Markets and Rate Lock Advisory is updated several times a day and is available at http://www.yourfhaguru.com


August 2009, Rate Lock Advice and Mortgage Market Update

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Jim Crawford
RE/MAX Paramount Properties - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Bill thank you for your daily update.  I hope you have a great day.

Sep 09, 2009 02:17 AM #1
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