Rate Lock Advice and Mortgage Market Update
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update November 9, 2009, 11:00 PT RATE LOCK ADVISORY Lock Advice: FLOATMBS prices moved slightly higher and are up +4/32. RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.01% at 5.06% on Nov.9 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.673% Down 0.046%. 10 Year Treasury currently 3.470% Down -0.1% DJI Stocks $10,196.18, Up 172.76, 1.72% European and Asian Markets Up 1.878% Nymex Crude Oil currently $79.86 Up $2.43 The big bailout banks find another way to rip off the consumer... just in a nick of time for them, but not for us. FHA is back in the spotlight. They didn't produce the audit that was due yesterday. Another cr...
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