Rate Lock Advice and Mortgage Market Update
September 14 , 2009, 1:00 PM PT
Lock Advice: LOCK
Unfavorable 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.
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 Securities
MBS 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 Markets Down -0.55%
Nymex Crude Oil currently $67.30 Down $0.11
This Week, the most significant economic data will be the monthly CPI inflation report on Wednesday.
- Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products.
- Retail Sales account for about 70% of economic activity
- The Consumer Price Index (CPI), the most closely watched monthly inflation report. CPI looks at the price change for those finished goods which are sold to consumers.
- Industrial Production, another important indicator of economic activity,
- Housing Starts
- The Treasury will announce the size of upcoming Treasury auctions.
Taylor Bean Whitaker mortgage update - Where to send payments formally sent to bankrupt lender
WORRIED ABOUT HVCC AND AN OUT OF TOWN APPRAISER? If you are concerned about the value of your listing and need a local appraiser consider FHA financing where we can still control the appraiser selection.
Read recent HVCC Wall Street Journal Article
Rate Survey Where you will find the best rates
The dreaded Stealth Rate Shopper Strikes Ditech full story
Time is running out, don't let your buyers delay, the $8,000 Tax Credit is expiring on December 1, 2009.
10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier
Your Fha Guru
The Mortgage Markets and Rate Lock Advisory is updated several times a day and is available at http://www.yourfhaguru.com
August 2009, Rate Lock Advice and Mortgage Market Update