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MORTGAGE INTEREST RATE LOCK ADVISORY 12/13/16

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
December 13, 2016, 7:55 AM PT 

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Reverse Mortgages allow Seniors to Age in Their Own Home.
MARKET INDICATORS
  • Average 30-Yr FRM, up 0.05 points to 4.13% on 12-8-16
  • Rate Price Based on 3.5% MBS, Down -0.07 Point.
  • DJI Stocks - Currently, $19,866.69, Up $70.26 0.35%
  • Asian & European Stock Market Indexes Up 0.408%
  • Crude Oil (WTI) - Currently, $52.39, Down ($0.44)
  • Gold 1 Ounce - Currently, $1,160.10, Down ($6.90)
MARKET REPORTS & ANALYSIS    
  • Rate Lock Advisory. Lock whenever prices improve. Technical indicators provide no sign of long time rates improving in this uncertain market.
  • Tuesday's Market Data: No news is scheduled today that could move bonds. Looking ahead to Wednesday the Federal Reserve is widely expected to raise interest rates at the close of its two-day policy meeting. Fed-funds futures, used by investors to speculate on the direction and pace of rising interest rates, were pricing in a more than 97% probability of a hike this week.
  • Monday's Mortgage Results: prices for rates based on Mortgage Backed Securities (MBS) closed Down 0.14 point.
  • 30-year fixed-rate mortgage (FRM) averaged 4.13 percent with an average 0.5 point for the week ending December 8, 2016, up from last week when it averaged 4.08 percent. A year ago at this time, the 30-year FRM averaged 3.95 percent.
It's always darkest before the dawn. 
So if you're going to steal your neighbor's newspaper, that's the time to do it. 
~Author Unknown
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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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