MORTGAGE INTEREST RATE LOCK ADVISORY
January 6, 2017, 7:55 AM PT
- 1-15 Day Close: LOCK
- 16-30 Day Close: LOCK
- 31-45 Day Close: LOCK
- Recommendations can change throughout the day.
- Click for current Lock Advice
MARKET INDICATORS
- Average 30-Yr FRM, Down 0.10 points to 4.20% on 1-5-17
- Rate Price Based on 3.5% MBS, Up 0.18 Point.
- DJI Stocks - Currently, $19,890.69, Down ($8.60) -0.04%
- Asian & European Stock Market Indexes Up 0.036%
- Crude Oil (WTI) - Currently, $53.60, Down ($0.16)
- Gold 1 Ounce - Currently, $1,179.30, Down ($3.80)
MARKET REPORTS & ANALYSIS
- Rate Lock Advisory. Hopefully you locked yesterday. My advice has basically remained the same since November 8th. Continue to lock on price improvements. News and technical indicators provide no sign of rates changing direction. In this uncertain market. Float rates at your own risk.
- Friday's Market: This is a mixed bag.
- The Non Farm Payroll was lower than expectations by 22K but the revision to the prior two months were + 19K...so that is a wash
- The wage data was higher than expected. The Non Farm Payroll is positive for pricing but in totality, this report really isn't weak enough to spark a rally.
- Thursday's Mortgage Rate Results: Mortgage rates based on Mortgage Backed Securities (MBS) closed down 0.53 point.
- 30-year fixed-rate mortgage (FRM) averaged 4.20 percent with an average 0.5 point for the week ending January 5, 2017, down from last week when it averaged 4.32 percent. A year ago at this time, the 30-year FRM averaged 3.97 percent.
- Friday AM Briefing
- Predicting the Path of Mortgage Rates in 2017
- Does Homebuyer Education Lead to Housing Stability?
- Former CFPB attorney just confirmed the worst fears of the mortgage industry
- HARP Extended, FHFA Rolls Out High LTV Refi Option
- 2016 Best Year in a Decade for Housing; 2017 is a Wild Card
- Fannie Mae's Day 1 Certainty verifies Income and Assets in Desktop Underwriter (DU)
- Congress could play Grinch this Christmas for homeowners
- Financial planners warming to reverse mortgages
It's always been and always will be the same in the world:
The horse does the work and the coachman is tipped. ~ Author Unknown
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