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.
NEWS LINKS
- Monday Morning Cup of Coffee: Spring turnaround, or spring-loaded trap?
- Home Prices Surge Above Wage Growth
- Micro Apartments: The Next Big Thing?
- Home Prices Rise 4.6 Percent
- Congresswoman wants to put Fannie, Freddie profits in escrow
- Over 60 Percent of Millennials Are Unaware of Closing Costs
- Leased Solar Panels Can Hurt A Home's Value
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