DAILY MORTGAGE LOCK ADVISORY
December 28, 2011, 6:45 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 down 0.07 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 3.91%
MBS (3.5%) - 102.17, High: 102.2, Low: 102.9
DJI Stocks currently $12,280.72, Down $-10.63, Change -0.087%
Asian & European Stock Market Indexes Down -0.085%
Nymex Crude Oil Currently $101.14 Down $0.20
MORTGAGE NEWS BRIEFS
FHA Ant-flip Waiver Extended; Tax Deductible MI Ending?
Dec 28 2011, 8:39AM
FHA lenders had reason for cheer and mirth at the end of last week. "In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting FHA Commissioner Carol Galante will extend FHA's temporary waiver of the anti-flipping regulations." With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 days, but this rule is waived through December 31, 2012 Read More Mortgage News
The Week Ahead: Low Volume, Limited Data, Light Participation, and Holiday-Shortened
Dec 27 2011, 8:24AM
Last week saw a steep sell-off in bond markets as low volume and a limited amount of participation paved the way for domination by whichever side of the trade showed up in greater numbers. It turned out to be "the sellers" leading up to the Christmas Holiday in the US, but as we said then and will continue to say this week, we can't really read much into trading levels and ostensible directional sentiment based on this year-end, illiquid trading. Read More Mortgage News Daily
Dec 23, 2011
Study Shows Enduring Rise in Consumer Sentiment
Consumer sentiment is on the uptick, at least according to a new index released by Thomson Reuters/University of Michigan. During the month of December, U.S. consumers showed a 2.2-point increase in positive economic sentiment, representing the highest recording since June of this year. The index's mid-month evaluation of consumers' attitudes rang in at 69.9, and the current figure demonstrates the fourth consecutive month of growth. »Read More MReport
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