DailyMORTGAGE LOCK ADVISORY
July 24, 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%) - 106.2, High: 106.28, Low: 106.16
DJI Stocks currently $12,719.98, Down $-1.48, Change -0.012%
Asian & European Stock Market Indexes Down -0.81%
Nymex Crude Oil Currently $88.32 Up $0.18
Gold 1 Once - $1,579.46
MORTGAGE NEWS BRIEFS
Mortgage Rates are on an undisputed tear, moving more today than any day in the past 3 weeks of progressive movement into new all-time lows. The week began much like the previous week ended, with concerns over the European financial system pulling all manner of 'safe-haven' bond yields lower, among them MBS (the Mortgage-Backed-Securities that most directly influence mortgage rates). Once again, there was nothing on the domestic economic calendar and corporate earnings had little effect next to news... >>Mortgage News Daily
Dow Jones Newswires U.S. home building rose in June to the highest level in nearly four years, confirming that the housing market has finally started to boost the struggling economy after a prolonged bust. Home construction increased 6.9% last month from May to a seasonally adjusted annual rate of 760,000, the Commerce Department said Wednesday. Compared with a year ago, starts were up 23.6>>Read More Fox Business