Rate Lock Advice and Mortgage Market Update
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update October 20, 2009, 9:25 AM ET RATE LOCK ADVISORY Lock Advice: FLOAT with CautionMBS prices are up +6/32 after both PPI and Housing Starts came in lower than expected. 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 5.04% on Oct.19 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.712% Down 0.022%. 10 Year Treasury currently 3.320% Down -0.09% DJI Stocks $10,012.01, Down -80.18, -0.79% European and Asian Markets Down -0.174% Nymex Crude Oil currently $78.52 Down $1.09 Rates 10-19-09, 8:30 PM PT 30 Year Fixed to $417,000Rate 4.750% Point 0.875, APR 4.885%APR Based on $350,000 Loan at 80% LTVAbove Rates can be ...
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