PM Rate Lock Advice & Mortgage Market Update

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Mortgage and Lending NMLS 291249

Rate Lock Advice & Mortgage Market Update

DAILY RATE LOCK ADVICE
March 25, 2010, 1:15 PT
Lock Advice is Updated Several Times Daily

Short Term Lock Advice for today's must lock loans:  LOCK. 
After yesterday's largest drop in over 6 months today's MBS prices roller coasted from up 4/32 to a low of -13/32 causing several lenders to repost unfavorable midmorning rate changes.  Presently, MBS prices are down 1/32 and the threat of further rate hikes has eased.
Jobless Claims came in a little lower than expected.
Interest rates run opposite MPS prices

Long Term Lock or Float Advice:  LOCK.
After a couple of meandering weeks, yesterday the market resumed it's direction downward.  Lock ASAP.

National Average Fixed Rate Mortgage
UP 0.05% at 5.03% on Mar.25

MBS Yields Opened at 4.838% Up 0.148%.

10 Year Treasury Currently 3.840% Up 0.15%

DJI Stocks Closed at $10,841.21,  Up 5.06, 0.05%

European and Asian Markets closed Up 0.767%

Nymex Crude Oil Currently $80.27 Down $0.34


  • B of A agrees to cut loan amounts for underwater borrowers.  National Mortgage News
  • US Housing Price Index Declined 6% from December to January News Release
  • 11-year-old boy buys property worth $44 mn in Dubai  The Economic Times
  • USDA Rural Housing Funds to Run Dry by April. Lenders Already Dropping the Program Mortgage News Daily
  • Maybe there is help for Jumbo Loans.  Broker Universe
  • CA Buyer and Broker convicted of loan Fraud Broker Universe
  • Mortgage Brokers are the cheapest conduit to bring loans to market according to FHA Commissioner, David Stevens TBWS
  • Homeowner Estimates as Good as Zillow? Appraisal Academics Think So  Housing Wire
  • Homebuilders Expect FHA Changes to Hurt Sales HOUSINGWIRE
  • Where's housing headed?  Follow rents. CNNMoney.com
  • OneWest Bank's sweetheart deal with our Bank Owned Government (BOG)  Must See Video
  • Fannie Mae is providing 3.50% Buyer Assistance on HomePath Loans Story

California Rates 03-25-10, 1:15 PT
30 Year Fixed to $417,000
Rate 4.875%  Point 0.750, APR 5.028%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked  for 30 days.
Click for Quotes on FHA and VA loans With Detailed Cost Estimates.
 No Application or Credit Report required

Compare Rates from Major Lenders Survey

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Topic:
Mortgage / Finance
Location:
California San Diego County San Diego Escondido
Groups:
Addicted to Active Rain
Mortgages
San Diego, CA Real Estate Agents
San Diego North County Real Estate
South Bay Realtors
Tags:
rate lock advice
mortgage market update

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