MORTGAGE INTEREST RATE LOCK ADVISORY
March 8, 2016, 8:30 AM PST
FEATURED LOAN
- REVERSE MORTGAGE (HECM)
- Financial Freedom for Qualified Seniors
- Click for Reverse Mortgage Details
LOCK ADVISORY - Click for current Lock Advice
- 1-14 Day Close: LOCK on Next Price Dip
- 15-30 Day Close: LOCK
- 31-45 Day Close: LOCK
- Recommendations can change throughout the day.
MORTGAGE MARKET INDICATORS - Click for current Markets
- Freddie Mac Average:30-Yr FRM, Up 0.02 at 3.64% on 3-3-16.
Rate Price Based on 3% MBS, Down -0.31 Point.
DJI Stocks - Currently, $16,989.10, Down ($84.85) -0.5%
Asian & European Stock Market Indexes Down -0.279%
Crude Oil (WTI) - Currently, $36.88, Down ($1.02)
Gold 1 Ounce - Currently, $1,269.30, Up $3.60
MARKET REPORTS & ANALYSIS
- Mortgage rates moved only slightly higher Monday on average. Some lenders were effectively unchanged from Friday, which is impressive considering the weakness in underlying bond markets.
- In terms of conventional 30yr fixed rate quotes, that brings us back to 3.75% for top tier scenarios. Several lenders remain at 3.625% and very few have moved up to 3.875%. All told, the difference between today and the year's very best rates is 0.25% in a few cases and 0.125% in most cases. That's not too bad considering the amount of movement seen in broader bond markets.
- While the longer-term trends can become positive in the future, it's too risky to plan on it occurring quickly enough for those considering locking today. As such, 'defense' remains the best strategy until we have firm evidence that the short-term trend toward higher rates has been defeated.
NEWS LINKS
- Tuesday AM Brief
- Conflict, Ya Think? Ex-CFPB Employees Migrate to Big Banks
- Former Fannie Mae CEO to face SEC charges for subprime mortgages
- Consumers Not Taking Advantage of Refinancing Opportunities
- 100 Best Private High Schools in California: 2016
- Global crisis good for mortgage lending?
- 37 per cent of buyers would be happy without this room
- 5 Things Most Real Estate Agents Don't Know About Low Down Payment Options
- No More VA Loan Limit Cap or Seller Mandatory Fees
Brenda O'Malley is home making dinner, as usual, when Tim Finnegan arrives at her door.
"Brenda, may I come in?" he asks. "I've somethin' to tell ya".
"Of course you can come in, you're always welcome, Tim. But where's my husband?"
"That's what I'm here to be telling ya, Brenda. There was an accident down at the Guinness brewery..."
"Oh, God no!" cries Brenda. "Please don't tell me."
"I must, Brenda. Your husband Shamus is dead and gone. I'm sorry."
Finally, she looked up at Tim.
"How did it happen, Tim?"
"It was terrible, Brenda. He fell into a vat of Guinness Stout and drowned."
"Oh my dear Jesus! But you must tell me truth, Tim. Did he at least go quickly?"
"Well, Brenda, no. In fact, he got out three times to go to the bathroom."
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