DAILY MORTGAGE INTEREST RATE LOCK ADVICE

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Mortgage and Lending NMLS 291249

DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
July 26, 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 0.03 point. 

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

MARKET INDICATORS
30 Year Fixed Interest Rate - National Average  4.52%.      
MBS (FNMA 30-year 4.5) - Current: 103.66, High: 103.66, Low: 103.53   
DJI Stocks currently $12,545.65,  Down $-47.15, Change -0.37%   
Asia & Europe Indexes Up 0.244%   
Nymex Crude Oil Currently $99.29 Up $0.09     

                
MORTGAGE MARKET NEWS BRIEFS
 
Case-Shiller Index Posts Second Straight Increase   
For the second month since recording an official double-dip in home prices, the S&P/Case-Shiller index has posted an uptick.
Data just released by Standard & Poor’s shows that 16 of the 20 metros included in the study and both composites reported positive monthly in. creases  Read More Case Shiller

Companies, Industry Groups Continue QRM Rule Fight
Real estate and relocation servicers provider Realogy Corporation became the latest in a string of companies to file critical commentary with regulatory authorities overseeing the Qualified Residential Mortgage rule, the embattled proposal that industry groups say would crimp housing by forcing homebuyers to front 20 percent in down payments. Realogy joins a host of other critics, including the Coalition for Sensible Housing Policy, 320 members of Congress, and some 44 private organizations. » Read More MReport

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