Bill Ladewig's PM Market Brief

By
Mortgage and Lending NMLS 291249

June 26 , 2009, 3:30 PM PST 

National Average Fixed Rate Mortgage 
Down 4 basis point to 5.40% on 06-26-09
*A Basis Point (bps) is 1/100 of 1.00%

Fannie Mae Mortgage Backed Securities (MBS) Down 14.7 basis points to 4.959%

Lock Advice:  Float
This morniing MBS enjoyed their largest down move in over a week after rates looked like they had run out of up momentum yesterday.  Today the MM rate indicator is Down 5.2 basis points and 10 year bonds were down 5 bps up from close of business Thursday.

DJI Stocks Closed: 8,438.39  -34.01  -0.40%

European and Asian Markets Up 0.32%

10 Year Treasury currently 3.54%  Dwn .01%

Nymex Crude Oil $69.16 barrel, Down $1.07

Are the best rates supplied by Direct Lenders? Rate Survey

Your Stealth Rate Shopper Strikes again full story 

Click for current Lending news and information


$8,000 Tax Credit Advance was approved (05-29-09) by FHA Click for FHA bulletin 

Fannie MBS Issuance Hits Highest Mark Since 2003
Benefiting from historically low interest rates and a refinancing boom, Fannie Mae issued $87.8 billion in mortgage-backed securities in March, nearly doubling the previous month's volume.

1st Quarter Residential Loan Originations Jump 36%
Thanks to interest rates that were at or near historical lows, residential mortgage lenders saw their loan production jump by 36% in the first quarter, according to preliminary survey figures compiled by National Mortgage News and the Quarterly Data Report.

How To Apply For $8,000 First Time Buyer Tax Credit
Up to a $8000 Tax Credit is available from IRS

10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier

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Topic:
ActiveRain Community
Location:
California Orange County
Groups:
RE/MAX Active Rain Bloggers
Realty Executives
Mortgages
Keller Williams 'Rainers
Century 21 Active Rainers
Tags:
market
mbs
fannie mae mortgage backed securities
fha expert
fha guru
down payment assistance
mortgage class
va loan class

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