MORTGAGE INTEREST RATE LOCK ADVISORY
April 2, 2015, 8:15 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: 4-2-15: 3.70% - Up 0.01 Point
- Rate Price Based on 3% MBS - Currently, Up 0.15 Point.
- DJI Stocks - Currently, $17,761.68, Up $63.50
- Asian & European Stock Market Indexes Up 0.435%
- Crude Oil (WTI) - Currently, $49.29, Down ($0.79)
- Gold 1 Ounce - Currently, $1,205.05, Up $3.05
ANALYSIS
- Initial Weekly Jobless Claims fell more than expected to 268K vs est of 285K. The lower the number, the better it is for the economy and negative for pricing. Usually this is not a major market mover.
- March ADP Private Payrolls 189K vs est of 225K. This is much weaker than expected and is generally positive for MBS pricing and lower rates.
- March Chicago PMI was 46.3 vs est of 52.0. This is second straight reading below 50. A reading below 50 shows economic contraction. Generally, weaker than expected data is positve for pricing/rates.
- March Consumer Confidence 101.3 vs est of 96.4. A very strong reading and generally negative for pricing and rates.
NEWS LINKS
- Student Loan 'Debt Strikes' Could Hurt The Mortgage Business
- Credit accessibility continues to dog marginal homebuyers
- JPMorgan's Dimon to Sen. Warren: Hit me with a fine. We can afford it
- More than one-third of America holds no emergency savings
- Over 60 Percent of Millennials Are Unaware of Closing Costs
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