DAILY MORTGAGE INTEREST RATE LOCK ADVICE

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Mortgage and Lending NMLS 291249

DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
July 13, 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 up 0.14 point.
The market looks overbought which could cause a temporary correction.

Long Term Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution

  • MARKET INDICATORS
    30 Year Fixed Interest Rate - National Average  4.60%.      
    MBS (FNMA 30-year 4.5) - Current: 104.13, High: 104.22, Low: 104.06   
    DJI Stocks currently $12,520.37,  Up $73.49, Change 0.59%   
    Asia & Europe Indexes Down -1.073%   
    Nymex Crude Oil Currently $97.36 Up $2.21 

   
MORTGAGE MARKET NEWS BRIEFS

U.S. import prices fell 0.5 percent in June.
The U.S. Bureau of Labor Statistics reported today, the first monthly decline since June 2010. Declining fuel and nonfuel prices both contributed to the overall decrease.
U.S. export prices ticked up 0.1 percent in June after rising 0.2 percent in May.

99% FHA Financing!
Grant 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

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