MORTGAGE RATE LOCK ADVISORY 11/17/16

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
November 17, 2016, 7:45 AM PT 

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Reverse Mortgages Provide Senior Financial Security.
MARKET INDICATORS
  • Average 30-Yr FRM, up 0.37 points to 3.94% on 11-17-16
  • Rate Price Based on 3% MBS, Up 0.08 Point. 
  • DJI Stocks - Currently, $18,855.78, Down ($12.36) -0.07%
  • Asian & European Stock Market Indexes Up 0.082%
  • Crude Oil (WTI) - Currently, $45.85, Up $0.28
  • Gold 1 Ounce - Currently, $1,228.20, Up $1.60
MARKET REPORTS & ANALYSIS     
  • Rate Lock Advisory. We've enjoyed two days of slightly lower rates since mortgage rates posted their biggest weekly increase since June 2013. Rate prices are almost unchanged early this morning after being down 0.06 Wednesday. LOCK on weak downward rate pressure.
  • Today's Market Data: The housing and jobs data is much better than expected, particularly with Continuing Claims dipping below 2M. CPI was basically inline with estimates. 
  • Yesterday's Mortgage Market: prices for rates based on Mortgage Backed Securities (MBS) closed down 0.06 point in a volatile day
  • 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending November 17, 2016, up from last week when it averaged 3.57 percent. A year ago at this time, the 30-year FRM averaged 3.97 percent.
 
I might wake up early and do some exercise, or I might win the lotto, the odds are the same.
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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.

 

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mortgage rate lock advisory national average for 30yr fixed mortgage rate

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