Rate Lock Advice and Mortgage Market Update

By
Mortgage and Lending NMLS 291249

Rate Lock Advice and Mortgage Market UpdateMortgage Rates

October 28, 2009, 6:30 AM PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT
MBS prices are up +1/32. Durable Orders came in right on target and produced little reaction.

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 0.04% at 5.1% on Oct.27

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.756% Down 0.053%.

10 Year Treasury currently 3.450% Down -0.04%

DJI Stocks $9,843.70,  Down -38.47, -0.39%

European and Asian Markets Down -1.332%

Nymex Crude Oil currently $78.75 Down $0.80

Rates 10-27-09, 10:45 AM PT
30 Year Fixed to $417,000
Rate 5.00% Point 0.875, APR 5.142%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

Rate Survey Where you will find the best rates

 

Education is the Only Effective Consumer Protection

Teach Your Clients to Find Legitimate Rate Quotes Read Story

 

IS THE FDIC KILLING SHORT SALES To Profit Billionaire George Soros
and His Merry Band of Financial Thugs?
Read Story

Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.


New FHA Condo Rules have been extended to November 2, 2009 - Story


Your FHA Guru

Your Fha Guru

Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com

 

 


The Mortgage Markets and Rate Lock Advisory is updated several times a day and is available at http://www.yourfhaguru.com

October 2009, Rate Lock Advice and Mortgage Market Update

San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage What is APR

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Rainer
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Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv
REISA - 317-663-4173 - Indianapolis, IN

Thanks for your post. Folks need to know that we have had a major shift in higher rates last week. Folks need to decide what they need to do.

Thanks

Tony

Oct 28, 2009 08:39 AM #1
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Rainmaker
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Bill Ladewig

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