MORTGAGE INTEREST RATE LOCK ADVISORY
July 22, 2016, 7:45 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: FLOAT With Caution
- 15-30 Day Close: FLOAT With Caution
- 31-45 Day Close: FLOAT With Caution
- Recommendations can change throughout the day.
MORTGAGE MARKET INDICATORS
- Weekly Average 30-Yr FRM, up 0.03% to 3.45% on 7-21-16.
Rate Price Based on 3% MBS, Up 0.15 Point.
DJI Stocks - Currently, $18,509.73, Down ($7.50) -0.04%
Asian & European Stock Market Indexes Down -0.153%
Crude Oil (WTI) - Currently, $44.06, Down ($0.69)
Gold 1 Ounce - Currently, $1,325.20, Down ($8.30)
MARKET REPORTS & ANALYSIS
- The MBS Market remains historically oversold indicating the strong possibility of rate improvement in the next few days yet rate prices are up slightly today and my lock recommendation remains... Float With Caution.
- 30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending July 21, 2016, up from last week when it averaged 3.42 percent. A year ago at this time, the 30-year FRM averaged 4.04 percent.
NEWS LINKS
- SEC busts two men for $7M mortgage Ponzi schem
- California home sales explode in June
- Purchases increased to 65 percent of all closed loans in June,
- FHA to begin insuring mortgages with PACE solar loans
- Updated Desktop Underwriter (DU) coming soon after unexpected delay,
- Reverse mortgages may be the hot new retirement planning too
- Renovation loans allow more people to buy homes
An Italian Mom
Mrs. Castranova comes to visit her son Anthony for dinner.
He lives with a female roommate, Maria.
During the course of the meal, his mother couldn't help but notice how lovely Anthony's roommate is.
Throughout the evening, while watching the two interact, she started to wonder if there was more between Anthony and his roommate than met the eye.
Reading his mom's thoughts, Anthony volunteered, "I know what you must be thinking, but I assure you, Maria and I are just roommates.''
About a week later, Maria came to Anthony saying, "Ever since your mother came to dinner, I've been unable to find the silver sugar bowl. You don't suppose she took it, do you?"
"Well, I doubt it, but I'll email her, just to be sure." So he sat down and wrote an email:
Dear Mama,
I'm not saying that you "did" take the sugar bowl from my house; I'm not saying that you "did not" take it. But the fact remains that it has been missing ever since you were here for dinner.
Your Loving Son, Anthony
A few days later, Anthony received a response email from his Mama which read:
Dear son,
I'm not saying that you "do" sleep with Maria, and I'm not saying that you "do not" sleep with her. But the fact remains that if she was sleeping in her OWN bed, she would have found the sugar bowl by now.
Your Loving Mama
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