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MORTGAGE INTEREST RATE LOCK ADVISORY 11/14/16

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
November 14, 2016, 8:00 AM PT 
 
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Reverse Mortgages Provide Senior Financial Security.
MARKET INDICATORS
  • Average 30-Yr FRM, up 0.03 points to 3.57% on 11-10-16
  • Rate Price Based on 3% MBS, Up 0.76 Point. 
  • DJI Stocks - Currently, $18,856.43, Up $8.77 0.05%
  • Asian & European Stock Market Indexes Down -0.523%
  • Crude Oil (WTI) - Currently, $42.74, Down ($0.67)
  • Gold 1 Ounce - Currently, $1,216.30, Down ($10.80) 
MARKET REPORTS & ANALYSIS     
  • Rate Lock Advisory. Rate prices experienced upward moves totaling 3.71 points over the previous five days. historically prices snap back after large moves. While the market is uncertain, MBS prices are deep in Overbought territory which may help snap prices lower.
  • Last Weeks Mortgage Market: prices for rates based on Mortgage Backed Securities (MBS) closed down 2.81 points for the week. This is the largest weekly move in years. And MBS prices are again down 0.82 point so far Monday.
  • 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.
     
 
Years of smoking finally caught up with my friend John one morning when he keeled over at work, clutching his heart. He was rushed to a hospital and peppered with questions.
"Do you smoke?" asked a paramedic.
"No," John whispered. "I quit."
"That's good. When did you quit?"
"Around 9:30 this morning."
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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.