Good morning to all! I have today's market update from Bob Franklin at Wells Fargo Home Mortgage. Bob is located in the beautiful city of Pismo Beach California, "Where the surf is always up! And the people are always frienndly!"
So here's Bob-
The Day Ahead: Housing Starts and Building Permits
Housing starts in February were at a seasonally adjusted annual rate of 698,000. This is 1.1 percent, below the revised January estimate of 706,000, but is 34.7 percent, above the February 2011 rate of 518,000. Building permits in February were at a seasonally adjusted annual rate of 717,000. This is 5.1 percent above the revised January rate of 682,000 and is 34.3 percent, above the February 2011 estimate of 534,000.
Dow is trading at 13,156.83 -82.30 the 10 yr bond is at 2.35% from 2.32% Yesterday, . Currently mortgages are slightly worse from Yesterday
Conv.- 4.0%
FHA. - 3.75%
Make it a Great Day!!
Bob Franklin
Mortgage Consultant
NMLSR ID 248760
Wells Fargo Home Mortgage | 575 Price St, Suite 105 | Pismo Beach, CA 93449
MAC E2396-011
Tel (805) 550-3395 | Fax (877) 609-0926
Bob.Franklin@wellsfargo.com
www.wfhm.com/Bob-Franklin
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