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AM MORTGAGE INTEREST RATE LOCK ADVICE

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

DAILY MORTGAGE LOCK ADVISORY 

September 26, 2011, 7:00AM PST

Click for Lock Advice Updated Several Times Daily  

 

Mortgage Interest Rate lock Advice for locks within 1 day:  FLOAT

Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.02 point.  Points closed Up 0.87 point on Friday and down 1.69 points on the week..  Nice!

 

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT
 On Wed. 09-21-2011 3.5% Mortgage Backed Securities (MBS) broke through a long standing resistance level which is very good news for mortgage rates

 

MORTGAGE MARKET INDICATORS

National Average Fixed Rate Mortgage 4.09%  A Hundred Year Low

MBS (FNMA 30-year 3.5) - 102.7, High: 102.94, Low: 102.69   
DJI Stocks currently $10,867.75,  Up $96.27, Change 0.89%   
Asian & European Stock Market Indexes Up 0.499%   
Nymex Crude Oil Currently $79.46 Down $0.39  

 

MORTGAGE NEWS BRIEFS

FRIDAY MORTGAGE RATES CLOSED AT THE LOWEST RATES IN OVER 100 YEARS!
 
This Week;

Treasury will auction $99B of notes as it normally does the last week of the month. While markets will look at the data, the bigger issue continues to be on Europe's inability to come to some plan to avoid debt defaults in Greece and the other troubled countries in the EU. The essential core of the inability to come up with a plan is that the EU, the ECB do not have enough capital do do it-----pushing on the string

. David Shirmeryer - Rate Alert.

 

Stocks May Show Notable Move To The Upside At The Open - U.S.

Stocks are likely to move to the upside in early trading on Monday amid optimism about the ongoing European debt crisis. The major index futures are currently pointing to a notably higher open, with the Dow futures up by 98 points.  Read More at RTTNews

 

Fed: Lower Jumbo Loan Limits Unlikely to Crimp Markets

Ryan Schuette

Ahead of lower limits for conforming jumbo loans, nearly assured in October as Congress disagrees even over stopgap spending bills, the Federal Reserve offered a revealing look at the market Friday by releasing a report on the health of the housing market. The consensus: falling limits will likely only nudge the jumbo loan market, not tip it over, as some critics claim

Read More at MReport

  

If you want to cure our sick government there is non partisan agreement on Politically funded elections

The documentary "Inside Job"  and the movie "To Big To Fail" clearly illustrate who is currently running our government.  Learn the advantages of publicly funded elections go to  Americans for Campaign Reform

Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

It is totally amazing the rates of today.  I don't understand why buyers aren't lined up to purchase a home.

Sep 26, 2011 03:31 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Very good post. Unfortunately, it will take more than low interest rates to bring more buyers into the market place. So many folks I talk to are afraid to move forward. They don't trust our leadreship, so many do nothing

Sep 26, 2011 04:14 AM