MORTGAGE INTEREST RATE LOCK ADVISORY
March 19, 2015, 8:00 AM PST
LOCK ADVISORY
- 1-6 Day Close: LOCK
- 7-15 Day Close: FLOAT With Caution
- 16-30 Day Close: FLOAT With Caution
MORTGAGE MARKET INDICATORS
- Freddie Mac Average:30-Yr FRM, on: 3-19-15: 3.78% - Down 0.08 Point
- Rate Price Based on 3% MBS - Currently, Up 0.02 Point.
- DJI Stocks - Currently, $17,978.68, Down ($97.51)
- Asian & European Stock Market Indexes Up 0.177%
- Crude Oil (WTI) - Currently, $43.19, Down ($1.42)
- Gold 1 Ounce - Currently, $1,164.80, Up $13.10
ANALYSIS
- Bonds are overbought after and a temporary pull back (rate increase) is possible after Wednesday's big move.
- Wednesday's FOMC news moved MBS price above the resistance level it had been bouncing against for past seven trading days.
- No Change in interest rate. FOMC says rate hike in April is unlikely and a decision when a rate hike will occur has not been made (offically)
- FOMC References "moderate" growth which appears to be a slight downgrade from "solid" growth"
NEWS LINKS
- Housing groups: G-fees aren't for unrelated federal spending
- Wednesday Best Day of the Year for Mortgage Rates
- Renters Getting the Squeeze Could Help Home Sales
- Senators Rally Against Using Fannie, Freddie to Offset Federal Spending
- Home Improvement Spending Is Booming
- Will New CFPB Rule Render Pre-Approvals Usless
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