DAILY MORTGAGE LOCK ADVISORY
November 3, 2011, 6:30 AM 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 are up 0.33 Point .
30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT
Tuesday, MBS closed above 102.00 which may signal a rate shift to the downside.
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 4.10%
MBS (3.5%) - 101.88, High: 102.22, Low: 101.81
DJI Stocks currently $11,971.14, Up $135.1, Change 0%
Asian & European Stock Market Indexes Up 0.683%
Nymex Crude Oil Currently $93.68 Up $1.17
MORTGAGE NEWS BRIEFS
Mobsters Indicted for Extorting Texas Mortgage Company
By Evan Nemeroff
FirstPlus Financial Group Inc., a publicly traded mortgage company in Beaumont, Texas, was illegally taken over through extortion by thirteen individuals, two of whom are linked to the Lucchese organized crime family, according to an indictment filed by the U.S. Department of Justice. Read more in National Mortgage News
What We're Hearing: Huh? U.S. Home Ownership Rate Increases?
By Paul Muolo
The U.S. government Wednesday morning reported that surprise; the home ownership rate actually rose last quarter. What? That's correct. Read more at Origination News
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