MORTGAGE INTEREST RATE LOCK ADVISORY
June 23, 2016, 7:55 AM PST
FEATURED LOANS
- 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
- 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 0.02% to 3.56% on 6-23-16.
Rate Price Based on 3% MBS, Up 0.08 Point.
DJI Stocks - Currently, $17,909.86, Up $129.03 0.72%
Asian & European Stock Market Indexes Up 0.576%
Crude Oil (WTI) - Currently, $49.55, Up $0.42
Gold 1 Ounce - Currently, $1,266.20, Down ($3.60)
MARKET REPORTS & ANALYSIS
- LOCK in front of the Brexit vote The market is volatile this morning with the outcome still uncertain. Either result could cause large market swings.
- Initial Weekly Jobless Claims and Continuing Claims had great readings and are generally a tad negative for pricing but MBS was already under pressure as voting is underway for the Brexit vote.
- Keep a close eye on the MBS market, Mortgage rates move opposite the MBS market. MBS is in oversold territory today which means lower rates have the most probability.
- MBS = Mortgage Backed Securities.
NEWS LINKS
- Yellen: Low Rates Will Be With Us
- Updated Desktop Underwriter (DU) coming soon after unexpected delay,
- Hackers are stealing Mortgages in San Francisco
- The 50 'Safest Cities' in California
- Yellen Says Forces Holding Down Rates May Be Long Lasting
- Reverse mortgages may be the hot new retirement planning too
- Renovation loans allow more people to buy homes
People are very open-minded about new things, as long as they're exactly like the old ones. -
Charles F. Kittering.
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