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Tuesday AM Mortgage Market Report 04/07/15

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

MORTGAGE INTEREST RATE LOCK ADVISORY

April 7, 2015, 8:00 AM PST 
 
LOCK ADVISORY
  • 1-6 Day Close:  LOCK
  • 7-15 Day Close: LOCK
  • 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 0.14 Point.
  • DJI Stocks - Currently, $17,964.30, Up $83.45
  • Asian & European Stock Market Indexes Up 1.494%
  • Crude Oil (WTI) - Currently, $52.61, Up $0.47
  • Gold 1 Ounce - Currently, $1,210.86, Down ($7.84) 

ANALYSIS     

  • 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

David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Hey Bill I would join that sentiment on LOCK if closing less than 15 days and float with caution for 16-30 as tomorrow could go in either direction

Apr 07, 2015 01:42 AM