PM 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 26, 2010, 2:15  PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT
MBS prices are currently up 3/32, down from today's high of 6/32
Consumer Confidence increased slightly and demand was average for today's 2-Year bond auction.  

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 Jan.26

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.687% Down 0.024%.

10 Year Treasury Currently 3.660% Up 0.04%

DJI Stocks Closed Today at $10,194.29,  Down -2.57, -0.03%

European and Asian Markets closed Down -0.09%

Nymex Crude Oil Currently $74.71 Down $0.55



California Rates 01-26-10, 8:30 PT
30 Year Fixed to $417,000
Rate 4.75%, Point 0.875, APR 4.884%

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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