Bill Ladewig's AM Market Brief

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Mortgage and Lending NMLS 291249

March 5, 2009, 7:56 AM PST
Fannie Mae Mortgage Backed Securities (MBS) Down 1.0 basis points (bps) to 4.726%
*A Basis Point (bps) is 1/100 of 1.00%

National Average Fixed Rate Mortgage 
Up 4.0 basis point  at 5.21% on 03-04-09

Lock Advice: Float with Caution
The Mortgage Mentor rate indicator has moved up and out of the nuetral zone but actual rates seem to be presently holding their own. 

DJI Stocks: 6,736.53 Down 139.31 -2.03%

European and Asian Markets Down 1.88%

10 Year Treasury currently 2.88%

Crude Oil $44.26 per barrel, Down 2.47% 

Class: VA and Rural Development Loans- Everything you need to know Register Here

NEWS FLASH 2009 Conforming Loan Limits increased by American Recovery and Reinvestment Act to $729,750 in high cost counties

Fannie Mae Now Allows up to 10 income properties

New Hope For Down Payment Assistance.A bill to reinstate reformed downpayment assistance was introduced by Congressman Al Green (TX) with bipartisan support and it will have the same language as unanimously passed last year by the House Financial Services Committee.

How To Apply For $7,500 First Time Buyer Tax Credit
Up to $7,500 can be borrowed from IRS

10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier

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