MORTGAGE INTEREST RATE LOCK ADVISORY
November 1, 2016, 7:45 AM PT
- 1-15 Day Close: NEUTRAL - see below
- 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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Reverse Mortgages Provide Senior Financial Security.
MARKET INDICATORS
- Average 30-Yr FRM, down 0.05 points to 3.47% on 10-27-16
- Rate Price Based on 3% MBS, Up 0.18 Point.
- DJI Stocks - $18,104.04, Down ($38.38) -0.21%
- Asian & European Stock Market Indexes Down -0.124%
- Crude Oil (WTI) - Currently, $46.81, Down ($0.05)
- Gold 1 Ounce - Currently, $1,289.50, Up $14.90
MARKET REPORTS & ANALYSIS
- Rate Lock Advisory. Rate prices rose sharply early this morning before most west coast lenders posted their morning rates. MBS prices are now in Overbought territory and that may a signal for a temporary swing to lower rate prices in the next few days.
- Yesterday's Mortgage Market: rate prices based on Mortgage Backed Securities (MBS) increased 0.02 point last week and was not enough to increase rate prices The MBS market experienced low volatility.
- 30-year fixed-rate mortgage (FRM) averaged 3.47 percent with an average 0.6 point for the week ending October 27, 2016, down 5 basis points from 3.52 percent last week. A year ago at this time, the 30-year FRM averaged 3.76 percent.
NEWS LINKS
- Tuesday AM Brief
- Two Key Segments Re-emerging Among Homebuyers
- CFPB Warns 44 Mortgage Brokers and Lenders of HMDA Violations
- Fannie and Freddie Lowering Underwriting Barriers
- FINALLY! Justice Department Prepares Suit Against Moodys, Wall Street credit rater.
- Game changer: California is investigating Wells Fargo for identity theft
- Mortgage Brokers are Grabbing a Larger Market Share
- The new normal: National average time to close settles at 46 days
- Reverse mortgages is the hot new retirement planning tool
I plan on living forever. So far, so good. ~ Author Unknown
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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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