MORTGAGE INTEREST RATE LOCK ADVISORY
April 9, 2014 8:00 AM PST
LOCK ADVISORY
7 Day Mortgage Interest Rate lock or Float Advice: LOCK
The cost for a 4.00% rate based on Mortgage Backed Securities is up 0.05 point.
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK
MARKET INDICATORS
- FHLMC Average: 30-Yr Fixed Mortgage Rate, up 0.01% to 4.41% on April 3.
- MBS (4%) - Currently 104.16, High: 104.61, Low: 104.03
- DJI Stocks currently $16,286.90, Up $30.76, Change 0.189%
- Asian & European Stock Market Indexes changed -0.264%
- Crude Oil (WTI) Currently $102.62 - Change 0.06%
- Gold 1 Ounce - $1,305.27
REAL ESTATE AND MORTGAGE NEWS
Credit Availability Improves With New Jumbo Programs
by: Jann Swanson -The Mortgage Bankers Association (MBA) noted this morning that mortgage credit was slightly more available in March than it was in February. The Association's Mortgage Credit Availability Index (MCAI) rose to 114.00 from 113.5 in February. Higher index values indicate higher credit availability or looser guidelines. Mike Fratantoni, MBA's Chief Economists said, "Consistent with past months, many lenders and investors are providing borrowers seeking higher loan amounts with a broader range of financing options by introducing new jumbo loan programs. Over the month, some lenders made a complete exit from wholesale lending operations, while other lenders moved to enter that space or expanded operations." >>Read More Mortgage News Daily
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