Rate Lock Advice and Mortgage Market Update
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 7, 2009, 10:45 PT RATE LOCK ADVISORY Lock Advice: FLOATMBS prices are up +6/32. There will be a 3-yr auction at 1:00 ET. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.01% at 4.92% on Dec.7 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.578% Up 0.034%. 10 Year Treasury Currently 3.440% Down -0.04% DJI Stocks $10,437.19, Up 48.29, 0.46% European and Asian Markets Down -0.243% Nymex Crude Oil Currently $75.08 Down $0.39 Brokers, If you value your business then please watch this three minute videoSee TBWS Video Rates 12-07-09, 2:40 PT30 Year Fixed to $417,000Rate 4.500% Point1.375, APR 4.678%APR Based on $...
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