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PM RATE LOCK & MARKET ADVISORY - October 27, 2011

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
October 27, 2011: 3:00 PM PST
Click for Lock Advice Updated Several Times Daily

Mortgage Interest Rate lock Advice for locks within 7 days:  LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities closed up 0.71.

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK
October 7, 2011, Mortgage Backed Securities moved below a long standing resistance level which could be bad news for long term rates. 

MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 4.11%   
MBS (3.5%) - 100.47, High: 101.19, Low: 100.38   
DJI Stocks closed at $12,208.55,  Up $339.51, Change 0%   
Asian & European Stock Market Indexes Up 3.834%   
Nymex Crude Oil Currently $93.93 Up $3.73   
             
MORTGAGE NEWS BRIEFS

New Home Sales Strike a 5.7% September Stride By: Ryan Schuette 
New single-family home sales snagged a September updraft to crest at their highest perch in nearly half a year, but remain below sales seen during the same period last year.  Read More in MReport


Four arrested in Sacramento for allegedly defrauding mortgage lenders
By: Kerry Panchuck
Four California residents face prison time and thousands of dollars in fines for allegedly defrauding lenders out of $900,000 Read More in Housing Wire

Home Prices Remain Flat - Have we hit bottom?
   Home prices largely hovered at around the same rates from months before, with some cities seeing relief and others watching gains trickle south, according to two second-quarter indices released Tuesday.
  The Federal Housing Finance Agency (FHFA) and Standard & Poor’s/Case-Shiller home price indices numbers for home prices that fell by a few percentage points and rose in a few metropolitan areas, respectively

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