MORTGAGE INTEREST RATE LOCK ADVISORY
August 24, 2015, 8:00 AM PST
LOCK ADVISORY
- 1-7 Day Close: FLOAT WITH CAUTION
- 8-14 Day Close: FLOAT WITH CAUTION
- 15-30 Day Close: FLOAT WITH CAUTION
MORTGAGE MARKET INDICATORS
- Freddie Mac Average:30-Yr FRM, on: 8-20-15: 3.93% - Down 0.01 point
- Rate Price Based on 3.5% MBS - Currently, Down -0.17 Point.
- DJI Stocks - Currently, $16,081.73, Down ($378.02)
- Asian & European Stock Market Indexes Down -4.536%
- Crude Oil (WTI) - Currently, $38.74, Down ($1.71)
- Gold 1 Ounce - Currently, $1,156.50, Down ($3.10)
MARKET REPORTS & ANALYSIS
- A wild Monday
- Dow Jones stocks opened over 500 points down causing the MBS market to briefly jump out the half point range it had been drifting sideways in since July 27th.
- Rate prices based on MBS opened more than a half point lower but have since slipped to half way back.
- Morgage rates like bad economic news and It is interesting that rate prices have not improved more in the face of world economic uncertainty.
- The market remains technically at a point where it could move sharply in either direction. Locking rates is still the safe bet.
- Currencies devaluations in China, Kazakhstan and Thailand along with the large stock market losses kept world markets on edge last week and this should push money into the safety of US bond markets which is good for rates.
NEWS LINKS
- Monday AM Brief
- Black Monday hits housing, mortgage finance worse than Dow, Nasdaq
- 6 Key Housing Stats to Gauge the Market
- Foreclosure inventory falls to 8-year low
- The Size of New-Homes is Shrinking
- This Busy City Will Never Have a Home for Sale
- FHFA to Push Fannie, Freddie into Manufactured Housing
- Biweekly Mortgages:The Lure And Dangers
- Will Exotic Mortgages Make A Comeback?
Comments(0)