Thursday AM Mortgage Market Report 7-23-15

• 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: 7-23-15: 4.04% - Down 0.05 point
• Rate Price Based on 3% MBS - Currently, Unchanged 0 Point.
• DJI Stocks - Currently, $17,840.42, Down ($10.62)
• Asian & European Stock Market Indexes Down -0.106%
• Crude Oil (WTI) - Currently, $49.36, Up $0.17
• Gold 1 Ounce - Currently, $1,096.92, Up $4.88
   

MARKET REPORTS & ANALYSIS     

• June's Leading Economic Indicators reading is three times higher than expectations.
• This morning Initial Weekly Jobless Claims report was 255K a very good reading and both reports are generally negative for pricing.
• Tuesday Gold dropped below $1,100 an ounce, a five year low. Typically, gold prices rise in a poor economic climate and fall in a good climate. Rates generally increase on good economic news.
• Based on current economics the safest strategy is to lock whenever the market improves..