rate: This Will Make You a Rate Shopping Genius. - 01/26/13 09:29 AM
This will Make You a Rate Shopping Genius.
Mortgage Rate Shopping is not Rocket Science but you should know all the tricks.
Two Rules for Genius Mortgage Rate Shopping
Rule #1  Get it in writing.
Rule #2  Mortgage Rates, Points and Lender Fees are interdependent parts to each rate quote.  When one part is Lowered another part must increase.  A Rate Quote is worthless without all three quoted.
Valuable Mortgage Rate Shopping Tips.
Know your credit score before you begin shopping.  Loan availability and the cost of your loan depend on your credit score.  Most conventional lenders require a minimum 720 mid score, above 80% loan to value, from the three … (27 comments)

rate: PM Rate Lock Advisory and Market Update - 09/20/09 01:12 PM
Rate Lock Advice and Mortgage Market Update
September 17 , 2009, 4:00 PM PT
Lock Advice:  FLOAT MBS prices closed up +11/32 (FNMA 30-yr 4.5 at 100.26), above 9:45 AM ET initial lender pricing of +2/32, and at the high for the day.  Many lenders improved rates mid morning. Housing Starts and Jobless Claims came in close to expectations.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.02% at 5.08% on Sep.17
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.775% Up 0.04%.
(2 comments)

rate: Rate Lock Advice and Mortgage Market Update - 09/17/09 01:14 PM
Rate Lock Advice and Mortgage Market Update
September 17 , 2009, 11:00 PM PT
Lock Advice:  FLOAT MBS prices are up  7/32, above 9:45 AM ET initial lender pricing of +2/32, and at the high for the day.  Housing Starts and Jobless Claims came in close to expectations.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.01% at 5.09% on Sep.17
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.775% Up 0.04%.
10 Year Treasury currently 3.120% Down -0.36%
DJI Stocks $9,691.65,  Up … (1 comments)

rate: Rate Lock Advice and Mortgage Market Update - 09/16/09 09:26 AM
Rate Lock Advice and Mortgage Market Update
September 15 , 2009, 7:15 PM PT
Lock Advice:  LOCKUnfavorable repricing may be a risk from investors who priced early this morning. MBS prices are up +5/32 (FNMA 30-yr 4.5 at 100.18), below the early high of +10/32.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage UP 0.01% at 5.1% on Sep.15
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.735% Down 0.01%.
DJI Stocks $9,691.65,  Up 8.24, 0.09%
European and Asian Markets Up 0.11%
Nymex Crude … (2 comments)

rate: Rate Lock Advice and Mortgage Market Update - 09/15/09 09:27 AM
Rate Lock Advice and Mortgage Market Update
September 15 , 2009, 7:15 PM PT
Lock Advice:  LOCKMBS prices are down -6/32 (FNMA 30-yr 4.5 at 100.11), which is about 9/32 lower than yesterday at this time. The 30-yr fixed FNMA required net yield (60 day) is now at 4.84%, from 4.78% yesterday
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.01% at 5.09% on Sep.14
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.745% Up 0.053%.
10 Year Treasury currently 3.450% Up 0.03%
(0 comments)

rate: PM Rate Lock Advisory and Market Update - 09/14/09 05:56 PM
Rate Lock Advice and Mortgage Market Update
September 14 , 2009, 1:00 PM PT
Lock Advice:  LOCKUnfavorable repricing is a risk. MBS prices are down -10/32 below 9:45 AM ET initial lender pricing of -5/32.. Obama's speech had little impact on MBS markets.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.01% at 5.09% on Sep.14
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.692% Down 0%.
10 Year Treasury currently 3.420% Up 0.08%
DJI Stocks $9,626.80,  Up 21.39, 0.22%
European and Asian … (1 comments)

rate: Rate Lock Advice and Mortgage Market Update - 09/14/09 01:24 PM
Rate Lock Advice and Mortgage Market Update
September 14 , 2009, 11:00 AM PT
Lock Advice:  FLOATMBS prices are down -1/32, above 9:45 AM ET initial lender pricing of -5/32, and at the high for the day. Obama's speech had little impact on MBS markets.
No economic data will be released today.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.01% at 5.09% on Sep.14
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.692% Down 0%.
10 Year Treasury currently 3.390% Up 0.05%
(1 comments)

rate: Rate Lock Advice and Mortgage Market Update - 09/11/09 12:10 PM
Rate Lock Advice and Mortgage Market Update
September 11 , 2009, 10:00 AM PT
Lock Advice:  FLOATMBS prices Up 8/32. Consumer Sentiment will be released at 10:00 AM ET.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Unchanged at 5.1% on Sep.11
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.692% Down 0.078%.
10 Year Treasury currently 3.290% Down -0.07%
DJI Stocks $9,592.26,  Down -35.22, -0.37%
European and Asian Markets Up 0.496%
Nymex Crude Oil currently $67.12 Down $2.79
This morning,  August Import Prices … (2 comments)

rate: Rate Lock Advice and Mortgage Market Update - 09/10/09 12:31 PM
Rate Lock Advice and Mortgage Market Update
September 10 , 2009, 10:25 AM PT
Lock Advice:  FLOATFavorable repricing is possible. MBS prices are up +16/32 above 9:45 AM ET intial lender pricing of +8/32. Very strong 30-yr auction results lifted MBS markets.Jobless Claims came in lower than expected.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.04% at 5.12% on Sep.10
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.771% Down 0.034%.
10 Year Treasury currently 3.360% Down -0.12%
DJI Stocks $9,585.24,  Up … (1 comments)

rate: Rate Lock Advice and Mortgage Market Update - 09/03/09 02:23 PM
Rate Lock Advice and Mortgage Market Update
September 3 , 2009, 12:15 PM PT
Rate Lock Advice:  FLOATMarket has improved so hold locks for must lock loans for a while.  MBS prices are up 4/32 from the 9:45 AM ET lender intial posting time.  Jobless Claims matched expectations.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.02% at 5.18% on Sep.3
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.79% Up 0.025%.
10 Year Treasury currently 3.330% Up 0.04%
DJI stocks 9,296.24, Up 15.57, … (1 comments)

rate: Rate Lock Advice and Mortgage Market Update - 08/31/09 12:48 PM
Rate Lock Advice and Mortgage Market Advisory

August 31 , 2009, 10:40 AM PT
Rate Lock Advice:  FLOATImproved midday repricing may be possible from some investors. MBS prices are up +7/32 (FNMA 30-yr 4.5 at 100.13), above 9:45 AM ET pricing of +4/32, and far above the early low of -1/32. RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Unchanged at 5.21% on Aug.31
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.84% Down 0.067%.
10 Year Treasury currently 3.40% Down -0.06%
DJI … (5 comments)

 
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