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Wednesday AM Lock Advisory 07-01-15

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

MORTGAGE INTEREST RATE LOCK ADVISORY

July 1 2015, 7:45 AM PST 
 
LOCK ADVISORY
  • 1-7 Day Close: LOCK 
  • 8-14 Day Close: LOCK
  • 15-30 Day Close: LOCK

MORTGAGE MARKET INDICATORS

  • Freddie Mac Average:30-Yr FRM, on: 6-25-15: 4.02% - Up 0.02 point
  • Rate Price Based on 3% MBS - Currently, Up 0.32 Point.
  • DJI Stocks - Currently, $17,731.65, Up $112.14
  • Asian & European Stock Market Indexes Up 0.649%
  • Crude Oil (WTI) - Currently, $58.26, Down ($1.21)
  • Gold 1 Ounce - Currently, $1,168.00, Down ($4.00)
     

MARKET REPORTS & ANALYSIS     

  • June ISM Manufuacturing and May Construction Spending readings are strong and negative for pricing.
  • At 5:20 AM Pacific MBS price were already 0.33 point higher due to letter from Greece showing that they are willing to make some conessions
  • The government closure of Greek banks is creating market volatility and it will continue until there is resolution.
  • Tuesday: Improved June Consumer Confidence is a block buster reading and under normal circumstances is negative for rate pricing.
     

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