DAILY MORTGAGE LOCK ADVISORY
December 16, 2011, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily
Mortgage Interest Rate lock Advice for locks within 7 days: FLOAT
Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.03 point.
30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution
There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.94%
MBS (3.5%) - 102.47, High: 102.47, Low: 102.34
DJI Stocks currently $11,950.85, Up $82.04, Change 0.686%
Asian & European Stock Market Indexes Up 0.262%
Nymex Crude Oil Currently $93.78 Down $0.09
PEOPLE SEND ME STUFF
Monks who have take the oath of silence sing the Hallelujah Chorus. Thanks to Nick Velco
Click Link This is brilliant, be sure to have your speakers on.
August Scampone sent an explaination of what caused the bank bailout in a way that even I can understand. Click Link
MORTGAGE NEWS BRIEFS
Mortgage Rates Hit Record Lows. Again
Lack of action from the Fed on monetary policy, wrangling in the nation's Capitol, and ongoing problems overseas helped push mortgage rates to new record lows this week. Finance Web site Bankrate.com recorded an all-time low for the 30-year fixed-rate mortgage, which slammed into 4.19 percent, down from 4.24 percent. Mortgage giant Freddie Mac countered with rates for the benchmark loan that again fell to 3.94 percent, down from 3.99 percent from the week before. » Read More MReport
California Leads U.S. in Mortgage Fraud
California tops a list of states for mortgage fraud activity, as the state's courts pursue more cases against alleged frausters, MortgageDaily.com found in an index it released Wednesday. The Web site documented activity in FraudBlogger.com, a mortgage fraud blog. While California claimed the top spot, New York and Florida also found themselves perched considerably high on the index, followed shortly by South Carolina and Minnesota. New York ranked second by dollar volume in mortgage fraud at $199,600,000. » Read More HousingWire
Comments(0)