MORTGAGE INTEREST RATE LOCK ADVISORY
February 11, 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: FLOAT With Caution
- 15-30 Day Close: FLOAT With Caution
- 31-45 Day Close: FLOAT
- 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: 3.65%
Rate Price Based on 3% MBS, Down -0.43 Point.
DJI Stocks - Currently, $15,637.14, Down ($277.60)
Asian & European Stock Market Indexes Down -1.885%
Crude Oil (WTI) - Currently, $26.95, Down ($0.50)
Gold 1 Ounce - Currently, $1,246.60, Up $49.90
MARKET REPORTS & ANALYSIS
- Today's Initial Weekly Jobless Claims and Continuing Claims are better than expected and are generally a tad negative for pricing but today they are overshadowed by the European stock market and bank implosion which has provided a HUGE rate drop.
- Mortgage rates barely budged yesterday, but did manage to gain just a bit of ground. That means another 1-year low, technically, although many lenders are quoting the exact some conventional 30yr fixed rates as Tuesday. The range is currently between 3.5% and 3.625% with most lenders still at the higher boundary.
- The Safe Bet is to Lock Short Term Closings. As rates continue their unprecedented drop, the odds of short term rate increases grow. Market indicators forecast a temporary rate increase for the past week.
NEWS LINKS
- Thursday AM Brief
- Palomar real estate: A caboose in the woods
- Mile-high skyscraper set to be world's tallest and twice as tall as the Burj Khalifa
- 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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