Rate Lock Advice and Mortgage Market Update

By
Mortgage and Lending NMLS 291249

Rate Lock Advice and Mortgage Market Update

December 10, 2009, 1:30 PT

RATE LOCK ADVISORY

Lock Advice:  LOCK
MBS prices are down -6/32.
Jobless Claims came in a little higher than expected.


RATE NOTES:
When MBS prices are up, Rates are down.
Lock advice can change throughout the day .
Good economic news = Bad Rate News.

National Average Fixed Rate Mortgage
Unchanged at 4.91% on Dec.10

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.577% Up 0.031%.

10 Year Treasury Currently 3.490% Up 0.04%

DJI Stocks closed today at $10,405.83,  Up 68.78, 0.67%

European and Asian Markets Up 0.475%

Nymex Crude Oil Currently $70.48 Down $0.19

 

Brokers, If you value your business then please watch this three minute video
See TBWS Video

 

Rates 12-10-09, 1:00 PT
30 Year Fixed to $417,000
Rate 4.625%, Point 1.100, APR 4.772%
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

Education is the ONLY Effective Consumer Protection

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



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Rainmaker
423,380
Ellen Crawford
Prudential PenFed Realty - Fairfax, VA
Virginia & Maryland Real Estate

Bill once again thank you for your daily update.  I greatly appreciate it.

December 10, 2009 09:02 PM #1
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Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
Broker/Owner, Integrity Real Estate Services -IDAB

National Average Fixed Rate Mortgage
Unchanged at 4.91% on Dec.10

We keep hearing of rates that are going to cliiiiimb.. there are some really good rates out there for those that have the credit scores.

Thank you for keeping us informed.

December 11, 2009 08:09 AM #2
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Rainmaker
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Bill Ladewig

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