MORTGAGE LOCK ADVISORY
March 26, 2012, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily
Mortgage Interest Rate lock Advice for locks within 8 days: FLOAT
Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.00 point.
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 4.08%
MBS (3.5%) - 102.34, High: 102.34, Low: 102.13
DJI Stocks closed at $13,080.73, Up $34.59, Change 0.264%
Asian & European Stock Market Indexes Up 0.211%
Nymex Crude Oil Currently $107.15 Up $0.28
Gold 1 Once - 1680
MORTGAGE NEWS BRIEFS
Wobbly Housing Recovery Stirs Economic Uncertainties
The fits and starts recovery could be blamed on the unsteady take off in consumer spending, primarily due to the destruction of household wealth associated with the drop in home prices. The housing boom seen between 2001 and 2005 has resulted in bloated inventory levels, giving very little incentive to build. Additionally, the government is going about a spending freeze, that is stifling employment growth and income gains >>Read More NASDAQ
Mortgage Rates Lift Above 4% for First Time Since October
Mortgage rates climbed above 4 percent this week, marking a departure from persistently low interest rates for the first time in five months as economic distress lifts stateside and Greece clears hurdles. »Read More MReport
Shadow Inventory Remains Flat in January
CoreLogic has reported that the current residential shadow inventory as of January 2012 was 1.6 million units (six-months' supply), approximately the same level reported in October 2011 >> Read More Mortgage Professional
US Housing Starts Drop 1.1% In February, But Building Permits Rise
(RTTNews) - New residential construction in the US showed an unexpected decrease in the month of February, according to a report released by the Commerce Department on Tuesday, although housing starts came in nearly in line with estimates due to an >> Read More in RTT News
Mortgage Rates Rise To Highest Levels Of The Year
With the new week comes new pain for Mortgages Rates, which rose to their highest levels of the year today. Lenders have been adjusting their rate sheets all day and by varying degrees, so there's greater than normal degree of variation between them.>>Read More Mortgage Daily News
One BofA Manager Signs 67,908 Documents in 2 Year Period
A Bank of America manager said she read the first paragraph of a document, and then located the place she needed to sign. She spent 1-1/2 to 2 hours per day on signing documents and two to three minutes on each. >>Read More Mortgage News Daily
FHA 203k Renovation Loans - All You Need To Know - Nine Minute Video
Provide Your Clients With Options - Energy Efficient Mortgages - 4 Minute Video
Comments(1)