DAILY MORTGAGE LOCK ADVISORY
December 22, 2011, 7:00 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 0.12 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%) - 102.39, High: 102.39, Low: 102.25
DJI Stocks currently $12,157.81, Up $50.07, Change 0.412%
Asian & European Stock Market Indexes Up 0.344%
Nymex Crude Oil Currently $99.46 Up $0.79
MORTGAGE NEWS BRIEFS
Report: Home Buyers are In, Sellers are Out
Dec 22 2011
The Mortgage Bankers Association (MBA) has demonstrated again that the public's perception of the real estate market depends on which side of the closing table they plan to sit.
A study entitled "The Great Recession and Attitudes Toward Homebuying" sponsored by MBA's Research Institute for Housing America (RIHA) concluded that prospective homebuyers believe now is a good time to buy, given today's low home prices and low mortgage interest rates, but potential sellers are nearly unanimous in reporting that it is not a good time to sell a home, citing difficulty in finding buyers at desired sales prices Read More in Mortgage News Daily
MORTGAGE NEWS BRIEFS What's Behind the Upward Trend in Housing Activity?
December 21, 2011 5:53 AM EST
Housing starts rose much more than expected during November, as unseasonably warm weather allowed builders to begin work on more projects than they usually do in November. Read more International Business Times
Housing Starts Strongest in Nearly Two Years
12/20/2011 By: Ryan Schuette
A pickup in job growth and record-low mortgage rates helped fast-track housing starts to their strongest performance in nearly two years in November, with rental property construction ahead of single-family home starts. Read More MReport.
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