DailyMORTGAGE LOCK ADVISORY
July 26, 2012, 6:30 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%) - 106.21, High: 106.28, Low: 106.13
DJI Stocks currently $12,786.17, Up $110.12, Change 0.861%
Asian & European Stock Market Indexes Up 2.617%
Nymex Crude Oil Currently $90.03 Up $1.06
Gold 1 Once - $1,615.75
MORTGAGE NEWS BRIEFS
More than half of US metros post higher foreclosure activity By Kerri Ann Panchuk
Foreclosure activity in the first half of 2012 picked up in 125 of the 212 U.S. metros surveyed by RealtyTrac in the research firm's latest Foreclosure Market Report.
Despite foreclosure increases in many markets, 129 metros still experienced year-over-year declines in foreclosure activity, according to the Irvine, Calif-based real estate research firm.>> Read More Housing Wire
Home Prices Continue Gradual Rise, but is Calling a Bottom Premature?
There was general agreement on the increase in home price levels in May in data released from by two different sources this morning>> Read More in Mortgage News Daily