MORTGAGE INTEREST RATE LOCK ADVISORY
February 9, 2016, 7:45 AM PST
FEATURED LOAN
- FHA 203K Renovation Mortgage
- Renovate Purchases and Refinances
- All You Need To Know About 203K
LOCK ADVISORY - Click for current Lock Advice
- 1-14 Day Close: LOCK
- 15-30 Day Close: FLOAT With Caution
- 31-45 Day Close: FLOAT With Caution
- Recommendations can change throughout the day.
MORTGAGE MARKET INDICATORS - Click for current Markets
- Freddie Mac Average:30-Yr FRM, Down 0.07 point on: 2-4-16 to: 3.72%
- Rate Price Based on 3.5% MBS, Down -0.16 Point.
- DJI Stocks - Currently, $15,937.30, Down ($89.75)
- Asian & European Stock Market Indexes Down -1.205%
- Crude Oil (WTI) - Currently, $30.13, Up $0.44
- Gold 1 Ounce - Currently, $1,196.20, Down ($3.80)
MARKET REPORTS & ANALYSIS
- Lock short term closings. As rates continue to decrease the odds of short term rate increases grows. Market indicators forecast a temporary rate increase.
- December Wholesale Inventories and December JOLTS readings are better than expected. JOLTS continues to show a large pool of unfilled positions which demonstrates a lack of qualified and available workers more than true econmic strength.
Neither are a real force in pricing, MBS have moved off otheir highs as Oil has climbed off its bottom.
NEWS LINKS
- Tuesday AM Brief
- Zillow founder: Is virtual touring next for the housing market?
- Homeowners on Fast Track to Break Even on Purchases
- Mortgage rates drop to lowest level since 2013
- Is Getting a Mortgage Loan Becoming Easier?
- Mortgage industry divided over cuts to FHA mortgage insurance.
- Are FICO scores becoming a thing of the past?
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