Special offer

MORTGAGE INTEREST RATE LOCK ADVISORY 6/3/16

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
June 3, 2016, 7:45 AM PST 
 
FEATURED LOANS
LOCK ADVISORY -  Click for current Lock Advice
  • 1-14 Day Close:  FLOAT
  • 15-30 Day Close: FLOAT
  • 31-45 Day Close: FLOAT
  • Recommendations can change throughout the day.   
MORTGAGE MARKET INDICATORS -
  • Freddie Mac Average:30-Yr FRM, Up 0.02% to 3.66% on 6-2-16.
    Rate Price Based on 3% MBS, Down -0.3 Point. 
    DJI Stocks - Currently, $17,749.88, Down ($88.68) -0.5%
    Asian & European Stock Market Indexes Up 0.346%
    Crude Oil (WTI) - Currently, $48.79, Down ($0.38)
    Gold 1 Ounce - Currently, $1,241.50, Up $28.90
MARKET REPORTS & ANALYSIS     
  • A huge miss on the headline Non Farm Payroll number and the Unemployment Rate still dropped significationly mostly due to the labor force shrinking. The "knee jerk" reaction is positive for pricing but the bond market is struggling to understand the signficance of this report right now.  
  • 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.5 point for the week ending June 2, 2016, up from last week when it averaged 3.64 percent. A year ago at this time, the 30-year FRM averaged 3.87 percent.
NEWS LINKS

 

My high school English teacher was well known for being a fair, but hard, grader. One day I received a B minus on a theme paper. In hopes of bettering my grade and in the spirit of the valentine season, I sent her an extravagant heart shaped box of chocolates with the pre-printed inscription, "BE MINE." 
The following day, I received a return valentine from the teacher. It read, "Thank you, but it's still a BE MINE-US."