Rate Lock Advice and Mortgage Market Update
October 29, 2009, 9:50 PT
RATE LOCK ADVISORY
Lock Advice: LOCK
Unfavorable repricing is a risk. MBS prices are down -8/32 below 9:45 ET pricing of -4/32. The Dow is now up 150 plus points, putting pressure on MBS markets.
RATE NOTES:
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 5.07% on Oct.29
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.678% Down 0.078%.
10 Year Treasury currently 3.50% Up 0.06%
DJI Stocks $9,927.67, Up 164.98, 1.69%
European and Asian Markets Up 0.666%
Nymex Crude Oil currently $80.28 Up $2.82
Rates 10-29-09, 9:50 AM PT
30 Year Fixed to $417,000
Rate 4.875% Point 1.000, APR 5.023%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required
Rate Survey Where you will find the best rates
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New FHA Condo Rules have been extended to November 2, 2009 - Story
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
The Mortgage Markets and Rate Lock Advisory is updated several times a day and is available at http://www.yourfhaguru.com
October 2009, Rate Lock Advice and Mortgage Market Update
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