DailyMORTGAGE LOCK ADVISORY
July 20, 2012, 6:45 am PST
30 Day Mortgage Interest Rate Lock or Float Advice: LOCK.
Rates could easily move higher or lower, but given the nearness to all time lows, there's generally more risk than reward regarding floating so my advice is to lock.
MORTGAGE MARKET INDICATORS
MBS (3.5%) - 106.08, High: 106.14, Low: 105.94
DJI Stocks currently $12,866.32, Down $-77.04, Change -0.599%
Asian & European Stock Market Indexes Down -2.383%
Nymex Crude Oil Currently $91.35 Down $1.31
Gold 1 Once - $1,577.00
MORTGAGE NEWS BRIEFS
This is because inflation devalues the U.S. dollar and everything denominated in U.S. dollars. This includes mortgage-backed bonds. Because inflation rates are down, mortgage bonds are expected to hold their value longer.>> Read Daily Mortgage Report
Multiple-Offer Situations : More Common Nationwide
The housing market is in recovery. This much is clear. Little-by-little, sector-by-sector, data proves what today's home buyers are learning the hard way -- there's competition for right-priced homes and competition is driving home prices higher >> Read More Daily Mortgage Reports
Builder Confidence Jumps to Highest Level in Six Years
Builder confidence took its biggest leap in nearly a decade according to data released this morning by the National Association of Home Builders (NAHB). The NAHB/Wells Fargo Housing Market Index (HMI) rose six points in July to 35, the highest level it has seen since March of 2007 and each of its component indices improved >>Read More Mortgage News Daily