DAILY MORTGAGE INTEREST RATE LOCK ADVICE

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Mortgage and Lending NMLS 291249

DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
July 11, 2011, 6:30 AM PST
Lock Advice is Updated Several Times Daily

Mortgage Interest Rate lock Advice for locks within 2 days:  FLOAT
Mortgage Points based on Mortgage Backed Securities are down 0.27 point.
Friday's disappointing monthly jobs report hurt stocks and helped mortgage rates.

Long Term Mortgage Interest Rate Lock or Float Advice:  LOCK
Long term: Last week, Mortgage Backed Securities broke through two long term support levels.  That, coupled with easing of the European financial crises after Greece agreed to an austerity program makes this a good time to lock.

  • MARKET INDICATORS
    30 Year Fixed Interest Rate - National Average  4.60%.      
    MBS (FNMA 30-year 4.5) - Current: 103.99, High: 104.13, Low: 103.81   
    DJI Stocks currently $12,568.58,  Down $-88.62, Change -0.7%   
    Asia & Europe Indexes Down -2.155%   
    Nymex Crude Oil Currently $95.06 Down $1.14     
       


MORTGAGE MARKET NEWS BRIEFS

The Best Housing Markets for the Next Five Years
Here are 15 cities, identified by Fiserv Case Shiller Indexes, where the housing market is growing, and could provide you with some nice returns. Nationally, houses are appreciating on an average of 3.7%, all of these cities have markets appreciating at over 8% > Read More

10 HOT Markets for Real Estate Investors   
7 California markets make the list. Editor's note: In compiling the "10 Best Markets for Real Estate Investors" report, Inman News reached out to a range of data providers and online real estate sites that supplied statistics...> Read More

99% FHA Financing!
July 8:  Grand funds available for FHA buyers!  Grants are NOT seconds. They are underwritten like gift funds-no payment calculated in PITI. Works great with FHA!
Grant equals 3% of first loan amount (including MIP)
Grant proceeds can be used for:
Down Payment
Closing Costs
Prepaid Items

FHA May Clamp Down on Debt-to Income Ratios
July 8: The Federal Housing Administration is considering tightening borrowers' debt-to-income ratios, a move that would prevent the most highly leveraged consumers from qualifying to buy a home. >Read More

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