MORTGAGE INTEREST RATE LOCK ADVISORY
January 31, 2017, 7:55 AM PT
- 1-15 Day Close: FLOAT With Caution
- 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, Up 0.10 points to 4.19% on 1-26-17
- Rate Price Based on 3.5% MBS, Down -0.24 Point.
- DJI Stocks - Currently, $19,821.51, Down ($149.62) -0.75%
- Asian & European Stock Market Indexes Down -0.178%
- Crude Oil (WTI) - Currently, $53.47, Up $0.84
- Gold 1 Ounce - Currently, $1,216.40, Up $19.80
MARKET REPORTS & ANALYSIS
- Rate Lock Advisory. Close in 15 days or less, Float this morning and check market this afternoon. Still recommend locking loans that are scheduled to close >15 days.
- Tuesday Market January Chicago PMI 50.3 versus estimate of 55.0. Certainly much lower than expected, but any reading above 50 is shows expansion. Generally, this would be a slight positive for pricing
- Monday's Rate Results: Mortgage Pricing based on Mortgage Backed Securities (MBS) closed Monday at 0.04 Point
- 30-year fixed-rate mortgage (FRM) averaged 4.19 percent with an average 0.4 point for the week ending Jan. 26, 2017, up from last week when it averaged 4.09 percent. A year ago at this time, the 30-year FRM averaged 3.79 percent.
- Tuesday News Brief
- Democratic lawmakers join battle between CFPB and PHH
- Low Inventory Drives the Hottest U.S. Markets
- Trump Administration Cancels Recently Announced FHA MIP Rate Cut
- Debating the Merits of GOP's Dodd-Frank Alternative
- Mortgage Applications Start 2017 on the Rise
- Predicting the Path of Mortgage Rates in 2017
- 2016 Best Year in a Decade for Housing; 2017 is a Wild Card
- Financial planners warming to reverse mortgages
____________________________________________________________________
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.
