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MORTGAGE INTEREST RATE LOCK ADVISORY 4/3/16

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
May 3, 2016, 7:30 AM PST 
 
FEATURED LOAN
LOCK ADVISORY -  Click for current Lock Advice
  • 1-14 Day Close:  LOCK 
  • 15-30 Day Close: LOCK
  • 31-45 Day Close: LOCK
  • Recommendations can change throughout the day.   
MORTGAGE MARKET INDICATORS -
  • Freddie Mac Average:30-Yr FRM, Up 0.07% to 3.66% on 4-28-16.
    Rate Price Based on 3% MBS, Down -0.35 Point. 
    DJI Stocks - Currently, $17,722.62, Down ($168.54) -0.95%
    Asian & European Stock Market Indexes Down -1.189%
    Crude Oil (WTI) - Currently, $44.16, Down ($0.62)
    Gold 1 Ounce - Currently, $1,289.00, Down ($7.30)
MARKET REPORTS & ANALYSIS     
  • There are some markets where loans should be locked as soon as possible.   This has been one one of those for several weeks. 
  • The big event last week was Wednesday's Fed meeting. A dovish Fed statement was positive for mortgage rates. The economic data released over the past week closely matched expectations, so it had little impact. Mortgage rates ended the week lower.
NEWS LINKS
LIFE
A child asked his father, "How were people born?" So his father said, "Adam and Eve made babies, then their babies became adults and made babies, and so on." The child then went to his mother, asked her the same question and she told him, "We were monkeys then we evolved to become like we are now." The child ran back to his father and said, "You lied to me!" His father replied, "No, your mom was talking about her side of the family."

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