Rate Lock Advice & Mortgage Market Update

By
Real Estate Mortgage Broker NMLS 291249

Rate Lock Advice & Mortgage Market Update

DAILY RATE LOCK ADVICE
April 27 2010, 2:35 PT
Lock Advice is Updated Several Times Daily

Rate lock Advice for loans that must lock today:  FLOAT
MBS prices are up +18/32 and favorable repricing is possible.
Mortgage Rates run opposite MBS prices

Long Term Mortgage Rate Lock or Float Advice:  LOCK
The past two week rate downtrend may have been broken last Thursday.  We won't know for sure for a couple of days but when not positive about the market direction, always lock.

  • National Average Fixed Rate Mortgage 
    Down 0.02% at 5.12% on Apr.27
  • MBS Yields Opened at 4.819% Down 0.014%.
  • 10 Year Treasury Currently 3.830% Down -0.01%
  • DJI Stocks $10,991.99,  closed  Down -213.04, -1.9%
  • European and Asian Markets closed Down -2.341%
  • Nymex Crude Oil Currently $81.80 Down $2.40

MORTGAGE MARKET NEWS

Tuesday, 04-27:
Consumer Confidence came in higher than expected

Treasuries and mortgages opened strong this morning as the debt concerns spread in Europe.  It is Greece leading the problem but as each day passes with nothing accomplished the contagion is spreading to include Portugal, Spain and likely will include Ireland in the coming weeks

Friday, 04-23:
March New Home Sales jumped 27%, far above expectations, which pushed MBS markets lower.  This created a good news double whammy when Durable Orders excluding aircraft was a very strong report.  Strong reports = Increased Mortgage Rates


  • Bernanke confident on recovery  AP Associtated Press
  • VA Loans Show Good Intel Is Best Defense The Department of Veterans Affairs' loan guarantee program-which requires no downpayment-has performed much better than, say, the troubled Federal Housing Administration program.  National Mortgage News
  • Employers added most jobs in 3 years in March STLToday
  • B of A agrees to cut loan amounts for underwater borrowers. National Mortgage News
  • Maybe there is help for Jumbo Loans. Broker Universe
  • Mortgage Brokers are the cheapest conduit to bring loans to market according to FHA Commissioner, David Stevens TBWS
  • OneWest Bank's sweetheart deal with our Bank Owned Government (BOG) Must See Video

California Rates 04-27-10, 12:45 PT
30 Year Fixed to $417,000
Rate 4.75%  Point 1.125, APR 4.910%
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

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Mortgage / Finance
Location:
California San Diego County Escondido Sonata
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

Comments 1 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
164,839
Melissa Juarez
Massachusetts Buyers Broker Agency, LLC

Bill great post and advice.  Everyone should consult as there is so much out there.

April 27, 2010 04:42 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
570,609

Bill Ladewig

Your FHA Guru - FHA and VA Loans Since 1970
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Daily rate lock advice, mortgage market updates and information about new and existing mortgage loans.

Find North San Diego Homes