MORTGAGE INTEREST RATE LOCK ADVISORY
November 7, 2016, 8:00 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, up 0.07 points to 3.54% on 11-3-16
- Rate Price Based on 3% MBS, Up 0.06 point
- DJI Stocks - Currently, $18,162.98, Up $274.70 1.51%
- Asian & European Stock Market Indexes up 1.317%
Crude Oil (WTI) - Currently, $44.29, Down ($0.22)
Gold 1 Ounce - Currently, $1,284.20, down $22.10
MARKET REPORTS & ANALYSIS
- Rate Lock Advisory. Rate prices remain stable this morning. MBS prices remain in slightly Overbought territory and that may signal a temporary swing to lower rate prices in the next few days.
- Friday's Mortgage Market: prices for rates based on Mortgage Backed Securities (MBS) closed down 0.01 point. Rates were not affected. The MBS market experienced medium volatility.
- 30-year fixed-rate mortgage (FRM) averaged 3.54 percent with an average 0.5 point for the week ending November 3, 2016, up from last week when it averaged 3.47 percent. A year ago at this time, the 30-year FRM averaged 3.87 percent.
NEWS LINKS
- Monday AM Brief
- How did alleged serial killer get his real estate license?
- Real Estate Professionals Refer Only a Select Few Lenders
- Loan Officer Sentenced in Church Mortgage Fraud Scheme
- Why does it take so long to close a loan? Appraisers!
- Fannie and Freddie Lowering Underwriting Barriers
- FINALLY! Justice Department Prepares Suit Against Moodys, Wall Street credit rater.
- 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
Common sense and a sense of humor are the same thing, moving at different speeds.
A sense of humor is just common sense, dancing. Clive James
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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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