Rate Lock Advice & Mortgage Market Update

By
Mortgage and Lending NMLS 291249

Rate Lock Advice & Mortgage Market Update

January 20, 2010, 8:30 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT
MBS prices are up +9/32. Rates are improving this AM, I suggest that new locks be held until this afternoon.  The PPI inflation data was mixed, while Housing Starts were lower than expected.

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
Unchanged at 5.15% on Jan.19

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.796% Down 0.069%.

10 Year Treasury Currently 3.730% Up 0.03%

DJI Stocks $10,534.91,  Down -190.52, -1.78%

European and Asian Markets Down -1.716%

Nymex Crude Oil Currently $77.09 Down $1.93



California Rates 01-20-10, 8:00 PT
30 Year Fixed to $417,000
Rate 4.75%, Point 1.000, APR 5.006%

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 Cost Estimates.
No Application or Credit Report required


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Rainmaker
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Edward & Celia Maddox
Solutions Real Estate - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Thanks for the information. We learn a lot of good information for ourselves and clients from Active Rain. Best Regards,

Jan 20, 2010 08:15 AM #1
Rainer
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Phil Graves
utahbuyeragent.com - Orem, UT
Utah Buyer Agent

Bill -

Thanks for the update.  Great information.

 

-Phil Graves-

utahbuyeragent.com

Jan 20, 2010 08:43 AM #2
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Jim Crawford
RE/MAX Paramount Properties - Atlanta, GA
Jim Crawford Atlanta Realtor - Atlanta Real Estate

Bill thank you very much for the update.  Best wishes and have a great day.

Jan 20, 2010 08:48 AM #3
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Rainmaker
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Bill Ladewig

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