DAILY MORTGAGE INTEREST RATE LOCK ADVICE

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Mortgage and Lending NMLS 291249

DAILY MORTGAGE INTEREST RATE LOCK ADVISORY
August 19, 2011, 6:30 AM PST
Click for Lock Advice Updated Several Times Daily

Mortgage Interest Rate lock Advice for locks within 1 day:  LOCK
Mortgage points based on mortgage backed securities are Up 0.33 point.

Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
Due to US and world financial market uncertainty be very cautious.  This rate market could run away from you in a heartbeat so the best bet is to lock low rates whenever there is a downward shift.

MARKET INDICATORS
30 Year Fixed Interest Rate - National Average  4.32%.      
MBS (FNMA 30-year 4.0) - Current: 104.36, High: 104.50, Low: 104.22   
DJI Stocks currently $10,893.10,  Down $-97.48, Change -0.89%   
Asia & Europe Indexes Down -2.718%   
Nymex Crude Oil Currently $81.77 Down $0.61 

MORTGAGE MARKET NEWS BRIEFS

US housing starts 'fall less than expected'
The number of housing starts in the US fell by 1.5 per cent in July compared to June, a much smaller drop than analysts had been anticipating.  Property Showrooms.com

Thursday The US stock market was down $419.63 based on continued weakness in Europe's bank stocks that are seeing heavy selling.

Housing Bust Provides New Openings for Mortgage Fraud
The housing boom created a rich climate for mortgage fraud and while the bust that followed the boom has changed the nature of the crime, it has provided continued opportunities which the Federal Bureau of Investigation (FBI) is attempting to quantify.  The Bureau has released a study that attempts to quantify the breadth and depth of mortgage fraud in 2010 so FBI program managers and the general public can better understand the current threat.  Read More in Mortgage News Daily

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  1. Marc & Carey Maricopa 08/19/2011 10:41 PM
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Topic:
Mortgage / Finance
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daily mortgage interest rate lock advice

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Ambassador
876,211
Larry Bettag
Regional Vice-President
Larry Bettag - Cherry Creek Mortgage

Education is power....let's hope that the rates continue to play in our favor Bill!

August 19, 2011 09:47 AM
Rainmaker
415,195
Mike Young
FHA 203k Consultant 707-812-7668
203kOnLine.com, covering California & most other states

is anyone still taking applications at the higher FHA loan limits or has everyone conceeded that they can't get them closed before Sept 30th? Most of them in our area have moved to the new lower limits already.

August 19, 2011 09:57 AM
Rainmaker
597,469
Bill Ladewig
Experience Is Your Advantage

Larry Thanks for the comment.  You are absolutely correct, Education is Power.

Mike, there are some lenders that are accepting locks up to the end of the first week in September.

August 19, 2011 10:10 AM
Anonymous
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Rainmaker
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Bill Ladewig

Experience Is Your Advantage
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