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MORTGAGE INTEREST RATE LOCK ADVISORY 8/4/16

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
August 4, 2016, 8:00 AM PST 
 
FEATURED LOANS
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, down 0.05% to 3.43% on 8-4-16.
  • Rate Price Based on 3% MBS, Down -0.27 Point. 
  • DJI Stocks - Currently, $18,346.47, Down ($8.53) -0.05% 
  • Asian & European Stock Market Indexes Up 0.566% 
  • Crude Oil (WTI) - Currently, $41.07, Up $0.24 
  • Gold 1 Ounce - Currently, $1,364.50, Up $4.20
MARKET REPORTS & ANALYSIS     
  • Rates Currently Trending: Neutral 
    Mortgage rates are down slightly this yesterday. The MBS market worsened by 0.17 point Tuesday. This was enough to worsen mortgage rates or fees. The market experienced moderate to high volatility yesterday. 
  • 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.5 point for the week ending August 4, 2016, down from last week when it averaged 3.48 percent. A year ago at this time, the 30-year FRM averaged 3.91 percent. 
 
I hate it when people use big words just to make themselves sound perspicacious.