Rate Lock Advice & Mortgage Market Update

Reblogger
Mortgage and Lending with Blue Water Home Loans NMLS# 166527

Original content by Bill Ladewig NMLS 291249

Rate Lock Advice & Mortgage Market Update

January 22, 2010, 6:30  PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT With Caution
MBS prices are down -4/32.
No economic data will be released today.

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 5.13% on Jan.21

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.682% Down 0.114%.

10 Year Treasury Currently 3.620% Down -0.06%

DJI Stocks $10,363.58,  Down -26.3, -0.25%

European and Asian Markets Down -1.138%

Nymex Crude Oil Currently $75.61 Down $0.47



California Rates 01-21-10, 8:30 PT
30 Year Fixed to $417,000
Rate 4.75%, Point 1.125, APR 4.901%

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 Cost Estimates.
No Application or Credit Report required

Compare Rates from Major Lenders Survey


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