Bill Ladewig's PM Market Brief

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Mortgage and Lending NMLS 291249

March 11, 2009, 1:33 PM PST

National Average Fixed Rate Mortgage 
Up 1.0 basis point  at 5.17% on 03-11-09
*A Basis Point (bps) is 1/100 of 1.00%

Fannie Mae Mortgage Backed Securities (MBS) Up 4.6 basis points to 4.701%

Lock Advice: Float with Caution
The Mortgage Mentor rate indicator has returned to the neutral zone.   The momentum is down.

DJI Stocks Closed 6,930.40 Up 3.91 +0.06%

European and Asian Markets Up 1.25%

10 Year Treasury currently 2.89%

Crude Oil $42.93 per barrel, Down 6.08%

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 $8,000 First Time Buyer Tax Credit
Up to a $8000 Tax Credit is available from IRS

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

 

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