RATE LOCK & MARKET ADVISORY - December 8, 2011

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Mortgage and Lending NMLS 291249

DAILY MORTGAGE LOCK ADVISORY 

December 8, 2011, 10:00 AM PST

Click for Lock Advice Updated Several Times Daily  

   

Mortgage Interest Rate lock Advice for locks within 7 days: FLOAT
Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.06 point.

 

30 Day Mortgage Interest Rate Lock or Float Advice:  FLOAT with Caution
Friday the 3.5% MBS price finally broke above the long term resistance level of 102 and prices continue to improve.   But, In this uncertain market the best advice is to lock at historic low rates.

 

MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 4.00%   
MBS (3.5%) - 102.63, High: 102.63, Low: 102.06   
DJI Stocks currently $12,044.32,  Down $-152.05, Change -1.262%   
Asian & European Stock Market Indexes Down -1.809%   
Nymex Crude Oil Currently $98.79 Down $1.70    

         
MORTGAGE NEWS BRIEFS

Mortgage Applications Jump 12.8% on Low Rates
Low interest rates for mortgage loans drove up mortgage application volume 12.8 percent on a seasonally adjusted basis from the week before. The Mortgage Bankers Association reported the latest figures in a weekly survey released Wednesday.  Read More at MReport
 

 

First American and NAHB add more housing markets to improvement index
by Justin T. Hilley
The number of improving housing markets expanded for a fourth consecutive month, according to the National Association of Home Builders/First American Improving Markets Index. Read More in HousingWire

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