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MORTGAGE INTEREST RATE LOCK ADVISORY 12/2/16

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
December 2, 2016, 7:50 AM PT 

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Reverse Mortgages Provide Senior Financial Security.
MARKET INDICATORS
  • Average 30-Yr FRM, up 0.05 points to 4.08% on 12-1-16
  • Rate Price Based on 3.5% MBS, Down -0.38 Point. 
  • DJI Stocks - Currently, $19,183.23, Down ($8.70) -0.05%
  • Asian & European Stock Market Indexes Down -0.299%
  • Crude Oil (WTI) - Currently, $51.34, Up $0.28
  • Gold 1 Ounce - Currently, $1,177.60, Up $7.50
MARKET REPORTS & ANALYSIS    
  • Rate Lock Advisory. Lock on down moves. Rates are down this morning and technical analysis provides no sign of rates improving in this uncertain market.
  • Friday's Market Data: A mixed bag as the Unemployment Rate dropped signifantly but Average Hourly Wages dropped. Another mixed bag with NFP as it just beat estimates for Nov but October was revised lower. This is not weak enough to cause a major rally and not strong enough to cause a major sell off either. 
  • Thursday's Mortgage Results: prices for rates based on Mortgage Backed Securities (MBS) closed up 0.23 point.
  • 30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.5 point for the week ending December 1, 2016, up from last week when it averaged 4.03 percent. A year ago at this time, the 30-year FRM averaged 3.93 percent. 
 
A day without sunshine is like, you know, night. ~ Steve Martin
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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.