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MORTGAGE INTEREST RATE LOCK ADVISORY 10/26/16

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
October 26, 2016, 7:55 AM PT 
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Reverse Mortgages Provide Senior Financial Security.
MARKET INDICATORS
  • Average 30-Yr FRM, up 0.05 points to 3.52% on 10-20-16
  • Rate Price Based on 3% MBS, up 0.06 Point. 
  • DJI Stocks - Currently,  $18,227.07, Up $57.80  0.32%
  • Asian & European Stock Market Indexes Down 0.42%
  • Crude Oil (WTI) - Currently,  $49.98, Up $0.02
  • Gold 1 Ounce - Currently, $1,271.40, Up $3.90
  • Today's Lock Advice for the past seven trading days Mortgage Backed Securities (MBS) prices have been moving up and down in a narrow band, bumping against heavy resistance. The odds are slim that it can punch through that resistance and continue on with lower prices. Advise Locking
  • Yesterday's Market: rate prices based on Mortgage Backed Securities (MBS) decreased 0.02 point and that was not enough to move the rate market. 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.
My childhood punishments have become my adult goals.
1. Going to bed early.
2. Not leaving my house.
3. Not going to a party.
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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.