DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
June 24, 2011, 6:30 AM PST
Lock Advice is Updated Several Times Daily
Mortgage Interest Rate lock Advice for locks within 2 days: LOCK
Mortgage Points based on Mortgage Backed Securities are up 0.05 Point .
Long Term Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution.
Long term: We may be near the end of a rally supported by European financial instability causing Europeans to invest in the safety of US bonds which supported mortgage prices. Once the European market stabilizes we could see higher rates.
- MARKET INDICATORS
30 Year Fixed Interest Rate - National Average 4.50%.
MBS (FNMA 30-year 4.5) - Current: 104.19, High: 104.28, Low: 104.16
DJI Stocks currently $12,023.66, Down $-26.34, Change -0.22%
Asia & Europe Indexes Up 0.603%
Nymex Crude Oil Currently $90.99 Down $0.03
MORTGAGE MARKET NEWS BRIEFS
Loan pricing improved.
And now we're back to the best mortgage rate levels of the year. Read Story
Real gross domestic product Increased -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.9 percent in the first quarter of 2011, (that is, from the fourth quarter to the first quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 3.1 percent.