DAILY MORTGAGE INTEREST RATE LOCK ADVICE

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Mortgage and Lending NMLS 291249

DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
July 20, 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 up 0.06 point

Long Term Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
The market looks overbought which could cause a temporary correction.

MARKET INDICATORS
30 Year Fixed Interest Rate - National Average  4.51%.      
MBS (FNMA 30-year 4.5) - Current: 103.91, High: 103.94, Low: 103.56   
DJI Stocks currently $12,580.27,  Down $-7.15, Change -0.06%   
Asia & Europe Indexes Up 0.891%   
Nymex Crude Oil Currently $98.10 Up $0.60         

MORTGAGE MARKET NEWS BRIEFS

New Bill May Extend Conforming Loan Limits
On Monday lawmakers introduced a bill that would extend the current conforming loan limits for another two years a deal that could continue federal insurance for homeowners with high conforming jumbo loans. Rep. John Campbell (R-California) and Rep. Gary Ackerman (D-New York) co-sponsored the bill, titled the Conforming Loan Limits Extension Act, which would fix the limit for jumbo loans backed by GSEs Fannie Mae and Freddie Mac and the Federal Housing Administration at $729,750. » Read More MReport

FHA's new rules: more pain for condo market!
Calculated phasedown under way?
Is the Federal Housing Administration taking a back-door exit away from condos -- a key real estate segment in which it's recently built up market shares of 40 percent and higher in many urban areas? Read more: Inman News

June housing starts up 14.6% to 629,000 
New construction of U.S. houses jumped in June to their highest level in five months, the Commerce Department estimated Tuesday. Starts rose 14.6% in June to a seasonally adjusted 629,000 annualized units, stronger than the 580,000 pace expected by economists surveyed by MarketWatch > Read More Marketwatch

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Topic:
Mortgage / Finance
Groups:
Mortgage Brokers
Mortgages
San Diego, CA Real Estate Agents
The FHA Mortgage Group
True Mortgage Professionals
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daily mortgage interest rate lock advisory

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