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 27, 2010, 1:20  PT

RATE LOCK ADVISORY

Lock Advice:  LOCK
MBS Price is down 3/32.  MBS prices dropped after the release of the Fed statement  reaffirming  the MBS purchase program will be concluded by the end of March. December New Home Sales fell 8% to an annual rate of 342K units, below the consensus of 370K.

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
Unchanged at 5.07% on Jan.27

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.72% Up 0.009%.

10 Year Treasury Currently 3.650% Down -0.01%

DJI Stocks closed at $10,236.16,  Up 41.87, 0.41%

European and Asian Markets Closed down -0.993%

Nymex Crude Oil Currently $73.65 Down $1.06



California Rates 01-27-10, 1:30 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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