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Monday AM Mortgage Advisory - 03/30/15

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

MORTGAGE INTEREST RATE LOCK ADVISORY

March 30, 2015, 8:00 AM PST 
 
LOCK ADVISORY
  • 1-6 Day Close:  FLOAT With Caution
  • 7-15 Day Close: FLOAT With Caution
  • 16-30 Day Close: FLOAT With Caution

MORTGAGE MARKET INDICATORS

  • Freddie Mac Average:30-Yr FRM, on: 3-26-15: 3.69% - Down 0.09 Point
    Rate Price Based on 3% MBS - Currently, Down -0.12 Point.
    DJI Stocks - Currently, $17,977.35, Up $264.69
    Asian & European Stock Market Indexes Up 0.893%
    Crude Oil (WTI) - Currently, $48.23, Down ($0.63)
    Gold 1 Ounce - Currently, $1,184.40, Down ($15.32 

ANALYSIS     

  • My near term outlook remains positive. However, the magnitude of the selling the end of last week is worrisome. 
  • Overall, Income was stronger than expected and year-over-year inflation (PCE) was higher than forecast. Generally, this is a very small negative for rates.
    • February Personal Income 0.4% vs est of 0.3%
    • Year over Year Inflation 1.4% vs est of 1.3%
  • February New Home Sales finally broke above 500K with a reading of 539K vs market expectations of 470K a tad negative for pricing. 

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