December 30, 2008, 1:15 PM PST
Fannie Mae Mortgage Backed Securities (MBS) Up 2.0 basis points (bps) to 4.490%
Monday FHA Wholesale Rates were Down 20.2 bps from 5.252 on Friday to 5.050%
*A Basis Point (bps) is 1/100 of 1.00%
LOCK
Mortgage Backed Securities are approaching a nuetral zone where the odds are about equal they could continue either up or down. My advice is to lock for the short term.
DJI Stocks Closed Up 184.46 +2.17%
European and Asian Markets Up 1.37%
10 Year Treasury is currently 2.08% down from 2.10 on Monday
Crude Oil Currently $39.22 per barrel.
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