Tuesday AM 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: 7-23-15: 4.04% - Down 0.05 point
  Rate Price Based on 3% MBS - Currently, Up 0.11 Point.
  DJI Stocks - Currently, $17,513.21, Up $72.62
  Asian & European Stock Market Indexes Up 0.27%
  Crude Oil (WTI) - Currently, $47.31, Down ($0.08)
  Gold 1 Ounce - Currently, $1,095.36, Down ($1.17)
   

MARKET REPORTS & ANALYSIS     

• Based on current economics the safest strategy is to lock whenever the market improves.
• Yesterday the 8.5% Chinese stock market crash kept rates from rising although MBS bonds remain severely overbought and rates will increase in the next day or so.
• June Durable Goods Orders and Ex Transport reports are better than expected and are generally negative for pricing however, the Chinese stock market crash is difficult to over shadow..