MORTGAGE INTEREST RATE LOCK ADVISORY
April 6, 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: 4-2-15: 3.70% - Up 0.01 Point
- Rate Price Based on 3% MBS - Currently, Up 0.08 Point.
- DJI Stocks - Currently, $17,866.57, Up $103.33
- Asian & European Stock Market Indexes Up 0.018%
- Crude Oil (WTI) - Currently, $50.73, Up $1.64
- Gold 1 Ounce - Currently, $1,223.00, Up $23.00
ANALYSIS
- Friday AM news rallied MBS (rates down)..
- Mar Non-Farm Payrolls 126K vs est of 245K
- Plus, the past three months were revised to an average 69K jobs.
- Unemployment Rate 5.5% vs est of 5.5%. Avg.
- Hourly Earnings 0.3% vs est of 0.2%. Initially MBS rallied (rates down) on this data.
- February Factory Orders +0.2% vs est of -0.4%. This is better than expected news but it is older data. Still, this is a slight negative for pricing/rates.
- 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.
NEWS LINKS
- Monday Morning Cup of Coffee: Stop the loan modifications!
- Over 7 Million Borrowers Eligible for Refinance
- Black Knight & Five Star Release CFPB Consumer Complaints
- RealtyTrac: Home price appreciation revealed in 3 charts
- FICO announces new credit program for risky borrowers
- Will scorching drought crisis end all California homebuilding?
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