Rate Lock Advice and Mortgage Market Update
December 11, 2009, 11:50 PT
RATE LOCK ADVISORY
Lock Advice: FLOAT
MBS prices are down -6/32.
Prices are 9/32 above today's lows which may cause favorable repricing from some lenders.
This morning, December Retail Sales rose 1.3%, well above the consensus forecast of 0.6%, and Retail Sales ex-autos showed similar strength. November Import Prices ex-oil rose 0.4%.
RATE NOTES:
When MBS prices are up, Rates are down.
Lock advice can change throughout the day .
Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage
UP 0.02% at 4.93% on Dec.11
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.612% Up 0.035%.
10 Year Treasury Currently 3.530% Up 0.04%
DJI Stocks $10,474.83, Up 69, 0.66%
European and Asian Markets Up 0.588%
Nymex Crude Oil Currently $69.88 Down $0.66
If you value your business then please watch this three minute video
See TBWS Video
30 Year Fixed to $417,000
Rate 4.625% Point 0.875, APR 4.761%
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
President signs the First Time Buyer Tax Credit Extension Read Story Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
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