Ladewig's AM Market Brief

Friday, Sept. 05, 2008

Mortgage Rates Down this morning
ADVICE:  Lock

Rates are near the bottom of an established trading trend so the probability of rates increasing soon is high and declining is low.

FNMA 30Yr Mortgage Backed Securities (MBS) Down 15.1 basis points* to 5.887%. 

10 Year T-Bill Down 6 Basis Pts to 3.57%

DJI Stocks opened down 32.48 after yesterday's 344 point loss.

Crude Oil currently $106.52 per barrel

*A Basis Point is 1/100 of a percent.

• FHA CALCULATOR
• Qualifies, Finds Rates, Loan Amounts, Closing Costs for: Fixed, FHA ARMS and 203(k)
• http://www.themtgmentor.com/FHA_Mortgage_Calculator.html
• Reverse Mortgage Broker Fee in Dispute
• 2008 Housing Bill eliminates 25% Fee to Brokers Not approved by FHA
•  
• 10 Ways to Avoid A Closing Nightmare
• An easy list that will make your life easier
•  
• DPA May Not Be Dead!
• New Bipartisan Legislation Introduced
•  
• $7,500 First Time Buyer Tax Credit
• Up to $7,500 can be borrowed from IRS

Market and Lending updates: http://www.YourFhaGuru.com