MORTGAGE INTEREST RATE LOCK ADVISORY
October 12, 2016, 8:00 AM PT
- 1-15 Day Close: Cautiously Float (see Lock Advice below)
- 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%.
- Rate Price Based on 3% MBS, Up 0.33 Point.
- DJI Stocks - Currently, $18,137.84, Up $9.18 0.05%
- Asian & European Stock Market Indexes Down -0.248%
- Crude Oil (WTI) - Currently, $50.38, Down ($0.41)
- Gold 1 Ounce - Currently, $1,256.20, Down ($0.50)
MARKET REPORTS & ANALYSIS
- Lock Advice. The conservative choice is to lock in this uncertain market. However, the MBS market is now deep into oversold territory and historically could be near the end of its current up move. If you remain unlocked be very careful.
- Tuesday rate prices increased 0.19 point. This was enough to increase 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
- Wednesday AM Brief
- U.S. Court of Appeals Ruling Seeks to Reduce CFPB's Power
- Fannie Mae Releases DU Version 10.0, With Support For Trended Credit Data
- Millennials shun homebuying in coastal cities
- Shortage of real estate appraisers is hurting the housing market
- 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
Never trust someone who takes hours to text you back,
but when you hang out with them they check their phone every 5 minutes
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