Ladewig's AM Market Brief

• Thursday, Sept. 25, 2008

  Mortgage rates Up slightly this morning.
  Lock Advice:  Neutral
  Rates have entered an area where they could go one way or the other.  If the payment works for your borrower a lock cannot be faulted
        
  FNMA 30Yr Mortgage Backed Securities (MBS) up 0.50 basis points* to 5.852%.
  * One Basis Point (bps) is 1/100 of a percent.

  10 Year T-Bill yield is up 6 bps at 3.85%

  DJI Stocks are up $260 at 10:00 AM PST and around the world, 55% of the other markets are up.

  Crude Oil is currently 105.14 per barrel. 

• FHA-VA Qualifier and Rate Finder
  • NEW Calculators figure everything from 2 + 2 to...
    • Find balance of existing loans
    • Find advantage of making extra payments
  • Qualifies, Finds Rates, Loan Amounts, Closing Costs for: Fixed, FHA ARMS and 203(k) http://www.themtgmentor.com/FHA_Mortgage_Calculator.html
• Reverse Mortgage Broker Fee in Dispute
  • 2008 Housing Bill eliminates 25% Fee to Brokers Not approved by FHA
• 10 Ways to Avoid A Closing Nightmare
  • An easy list that will make your life easier 
• How to Apply for $7,500 First Time Buyer Tax Credit
  • Up to $7,500 can be borrowed from IRS

Market and Lending updates: http://www.YourFhaGuru.com