Rate Lock Advice and Mortgage Market Update
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update November 20, 2009, 10:15 PT RATE LOCK ADVISORY Lock Advice: FLOAT With CAUTIONThe Float with Caution recommendation is only because rates have been down for a while and they almost always adjust in the other direction after a long run.MBS prices are up +3/32. No economic data will be released today. 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 Down 0.01% at 4.98% on Nov.20 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.513% Down 0.004%. 10 Year Treasury Currently 3.360% Up 0.01% DJI Stocks $10,289.52, Down -42.92, -0.42% European and Asian Markets Down -0.758% Nymex Crude Oil Currently $76.70 Down $0.76 Take 5 minut...
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