Rate Lock Advice & Mortgage Market Update

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PM Rate Lock Advice & Mortgage Market Update

March 16, 2010, 6:30 PT
Website is Updated Several Times Daily

Short Term Lock Advice for loans that must lock today:  LOCK. .  
MBS prices are down -6/32. Housing Starts came in close to expectations.  Interest rates run opposite MPS prices

Long Term Lock or Float Advice:  LOCK.
MBS prices are oversold and and broke below their hundred day moving average.

National Average Fixed Rate Mortgage 
Unchanged at 4.97% on Mar.15

MBS Yields Opened today at 4.694% Down 0.001%.

10 Year Treasury Currently 3.710% Unchanged 0%

DJI Stocks $10,659.31,  Up 17.16, 0.16%

European and Asian Markets Up 0.408%

Nymex Crude Oil Currently $80.99 Up $1.19

  • 11-year-old boy buys property worth $44 mn in Dubai  The Economic Times
  • USDA Rural Housing Funds to Run Dry by April. Lenders Already Dropping the Program Mortgage News Daily
  • Maybe there is help for Jumbo Loans.  Broker Universe
  • CA Buyer and Broker convicted of loan Fraud Broker Universe
  • Home Prices Continue Climb from 2009  Housing Wire
  • Home Affordable Refinance Program (HARP) has been extended to June 30, 2011.  Notice 
  • Mortgage Brokers are the cheapest conduit to bring loans to market according to FHA Commissioner, David Stevens TBWS
  • Homeowner Estimates as Good as Zillow? Appraisal Academics Think So  Housing Wire
  • Homebuilders Expect FHA Changes to Hurt Sales HOUSINGWIRE
  • Where's housing headed?  Follow rents. CNNMoney.com
  • Housing construction up 2.8 percent in January.   StLtoday.com
  • OneWest Bank's sweetheart deal with our Bank Owned Government (BOG)  Must See Video
  • Fannie Mae is providing 3.50% Buyer Assistance on HomePath Loans Story

California Mortgage Rates 03-15-10, 2:30PT
30 Year Fixed to $417,000
Rate 4.750%  Point 0.750, APR 4.883%

APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked  for 30 days.
Click 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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Justin Messer
Supreme Lending USDA, FHA, and Conventional Loans - Peachtree City, GA
Residential Loan Officer, USDA Rural Housing Loan

Thanks for the continued updates Bill.  Sorry to hear about the confirmed LO program.

Mar 16, 2010 07:12 AM #1
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Bill Ladewig

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