MORTGAGE INTEREST RATE LOCK ADVISORY
October 10, 2016, 7:55 AM PT
- 1-15 Day Close: Cautiously Float
- 16-30 Day Close: Cautiously Float
- 31-45 Day Close: Cautiously Float
- Recommendations can change throughout the day.
- Click for current Lock Advice
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MORTGAGE MARKET INDICATORS
- 10-6-16: Average 30-Yr FRM, unchanged at 3.42%.
- Friday: Rate Price Based on 3% MBS, Down -0.11 Point.
- DJI Stocks - Currently, $18,388.96, Up $148.47 0.81%
- Asian & European Stock Market Indexes Up 0.143%
- Crude Oil (WTI) - Currently, $51.54, Up $1.73
- Gold 1 Ounce - Currently, $1,263.60, Up $11.30
MARKET REPORTS & ANALYSIS
- Bond markets are closed Columbus Day however stock markets will be open as usual.
- Cautiously Float Lock Advice. Last week rate prices increased 0.48 Point. The MBS market is now in oversold territory and may be near the end of this up move. However, If you remain unlocked be very careful.
- Mortgage rates down Friday. Friday, rate prices were down 0.11 point. This was not enough to change rate fees. The market experienced moderate volatility.
- 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending October 6, 2016, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.76 percent.
NEWS LINKS
- Monday AM Brief
- Millennials shun homebuying in coastal cities
- Shortage of real estate appraisers is hurting the housing market
- Brother and Sister in court over mortgage fraud
- The new normal: National average time to close settles at 46 days
- FHA Condo Relief Coming: President Signs Bill
- Reverse mortgages is the hot new retirement planning tool
"Don't let what you can't do stop you from doing what you can do." -- John Wooden
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