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MORTGAGE INTEREST RATE LOCK ADVISORY 10/12/16

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
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 AdviceThe 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.
  
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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