Bill Ladewig's PM Market Brief

By
Real Estate Mortgage Broker NMLS 291249

July 17 , 2009, 1:00 PM PST

National Average Fixed Rate Mortgage 
Up 1 basis point at 5.28% on 07-17-09
*A Basis Point (bps) is 1/100 of 1.00%

Fannie Mae Mortgage Backed Securities
Down 6.6 basis points to 4.958%.

Lock Advice:  Lock
MM rate direction indicator still points north.
DJI Stocks rose 384 in the past three days.  Typically, when stocks rise so do rates. 

DJI Stocks Closed today at 8,743.94  +32.12  +0.37%

European and Asian Markets Up 0.96%

10 Year Treasury closed today at 3.65% up 6 bps

Nymex Crude Oil $63.41 barrel, Up $1.39

See inter-day Rate and market updates on Twitter

07-17-09: Housing starts surge
Government report says initial construction of U.S. homes rose to an annual rate of 582,000 units last month.  Full Story

07-17-09 Stock Rally Pushes Mortgage Rates Higher  Full Story

06-16-09: Initial jobless claims fell 47,000 to 522,000 last week.
Initial claims for jobless benefits dropped by 47,000 to 522,000 in the week ended July 11, the Labor Department said Thursday. The four-week average of new claims, which aims to smooth volatility in the data, fell by 22,500

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

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Ambassador
1,036,061
Jim Crawford
Jim Crawford Atlanta Realtor - Atlanta Real Estate
RE/MAX Paramount Properties

Bill thank you for your PM update!  Have a great weekend.

July 17, 2009 08:50 PM
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Rainmaker
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Bill Ladewig

Your FHA Guru - FHA and VA Loans Since 1970
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