MORTGAGE INTEREST RATE LOCK ADVISORY 2/3/17

By
Mortgage and Lending with LoanOfficerSchool.com NMLS 291249
MORTGAGE INTEREST RATE LOCK ADVISORY
February 3, 2017, 7:55 AM PT 

  • 1-15 Day Close:   FLOAT
  • 16-30 Day Close: FLOAT With Caution
  • 31-45 Day Close: LOCK
  • Recommendations can change throughout the day.  
  • Click for current Lock Advice 
MARKET INDICATORS
  • Average 30-Yr FRM, Unchanged 4.19% on 2-2-17
  • Rate Price Based on 3.5% MBS, Down -0.28 Point.
  • DJI Stocks - Currently, $20,045.58, Up $160.67 0.8%
  • Asian & European Stock Market Indexes Up 0.298%
  • Crude Oil (WTI) - Currently, $54.13, Up $0.59
  • Gold 1 Ounce - Currently, $1,222.40, Up $2.40
MARKET REPORTS 
  • Rate Lock Advisory. Close in 15 days or less, Float this morning and check market this afternoon.  
  • Friday Market: A mixed bag of job reports here. MORE jobs and at higher wages, but the wage growth is lower than expected. The Unemployment Rate ticked up but that is because the Participation rate moved higher. MBS are treading water right now and have not made a major move on this data as the bond market tries to understand the mixed results.
  • Thursday's Rate Results: Mortgage Pricing based on Mortgage Backed Securities (MBS) closed Wednesday Down 0.16 Point
  • 30-year fixed-rate mortgage (FRM) averaged 4.19 percent with an average 0.5 point for the week ending Feb. 2, 2017, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.72 percent.
 
 
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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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