MORTGAGE INTEREST RATE LOCK ADVISORY
April 20, 2015, 8:00 AM PST
LOCK ADVISORY
- 1-6 Day Close: LOCK
- 7-15 Day Close: FLOAT With Caution
- 16-30 Day Close: FLOAT
MORTGAGE MARKET INDICATORS
- Freddie Mac Average:30-Yr FRM, on: 4-16-15: 3.67% - Up 0.01 Point
- Rate Price Based on 3% MBS - Currently, Up 0.02 Point.
- DJI Stocks - Currently, $18,086.62, Up $260.32
- Asian & European Stock Market Indexes Up 0.47%
- Crude Oil (WTI) - Currently, $56.87, Up $1.15
- Gold 1 Ounce - Currently, $1,193.30, Down ($9.52)
ANALYSIS
- Suggest locking loans if they are within a week of close. MBS prices are hitting a long standing resistance level that could temporarily hike rates.
- Friday: the very strong Consumer Sentiment data will drive MBS pricing lower (worse rates) but the downside is limited as we have some strong technical support.
- Friday: March Core CPI is basically in line with estimates, the core is showing some gains but not by a large enough amount to concern long bond traders about inflation.
- Thursday: The housing data is a little weaker than expected. Jobless were higher than expected but still below the important 300K mark. Overall, this is slightly positive for rates and pricing but we have significant overhead resistance which makes improvement hard to come by.
NEWS LINKS
- Monday Morning Cup of Coffee: FHFA g-fee, PMI shift too much or too little
- Housing Starts Show Modest Gains
- Advocates Seek Investigation of Possible Push Into Foreclosure Campaigns
- Elizabeth Warren: It's time to break up too-big-to-fail banks
- Fannie Offers Closing Cost Aid to First-Timers
- Survey Indicates Builder Confidence on the Rise
- Best Places to Score Deals on Fixer-Uppers
- Whistleblower alleges widespread data theft by Zillow
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