MORTGAGE INTEREST RATE LOCK ADVISORY
October 20, 2016, 7:45 AM PT
- 1-15 Day Close: LOCK
- 16-30 Day Close: LOCK
- 31-45 Day Close: LOCK
- Recommendations can change throughout the day.
- Click for current Lock Advice
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- Average 30-Yr FRM, up 0.05 points to 3.47% on 10-13-16
- Rate Price Based on 3% MBS, Up 0.03 Point.
- DJI Stocks - Currently, $18,144.69, Down ($57.93) -0.32%
- Asian & European Stock Market Indexes Up 0.43%
- Crude Oil (WTI) - Currently, $50.50, Down ($1.10)
- Gold 1 Ounce - Currently, $1,268.30, Down ($3.10)
- Mortgage Backed Securities (MBS) prices are now in neutral territory and bumping against heavy resistance. The odds are slim that it can punch through the resistence to continue with lower prices we've enjoyed for the past three days.
- Wednesday: Prices for rates lowered by 0.07 point. This was not enough for most lenders to post lower rate fees. The market experienced medium volatility.
- 30-year fixed-rate mortgage (FRM) averaged 3.52 percent with an average 0.5 point for the week ending October 20, 2016, up from last week when they averaged 3.47 percent. A year ago at this time, the 30-year FRM averaged 3.70 percent.
- Thursday AM Brief
- Game changer: California. investigating Wells Fargo for identity theft
- Would an Overhaul of Student Loans Help Homeownership?
- Mortgage Banks and Brokers are Grabbing a Larger Market Share
- Mortgage Bankers: Believe First-Time Homebuyers Will Drive Business in 2017
- Immigrant Homeownership is Bolstering 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
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