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MORTGAGE INTEREST RATE LOCK ADVISORY 10/21/16

By Bill Ladewig

Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

October 21, 2016 01:14 AM

MORTGAGE INTEREST RATE LOCK ADVISORY

October 21, 2016, 8:00 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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IMPORTANT NOTICE:

Never trust wiring instructions sent via email. Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.

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I'm pleased to have been invited to be a LOS Instructor

And, to Have Joined A Great Team of Very Experienced Professionals

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MARKET INDICATORS

Average 30-Yr FRM, up 0.05 points to 3.52% on 10-20-16
Rate Price Based on 3% MBS, Down -0.12 Point.
DJI Stocks - Currently, $18,065.24, Down ($97.11) -0.54%
Asian & European Stock Market Indexes Up 0.155%
Crude Oil (WTI) - Currently, $50.78, Up $0.15
Gold 1 Ounce - Currently, $1,268.70, Down ($0.40)

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MARKET REPORTS & ANALYSIS

Today's Lock Advice Mortgage Backed Securities (MBS) prices remain in neutral territory and bumping against heavy resistance. The odds are slim that it can punch through the resistance and continue with lower prices.
Thursday rate prices increased 0.11 point. This was not enough to increase rate fees for most lenders. The MBS 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 3.79 percent

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