Rate Lock Advice and Mortgage Market Update
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update September 30 , 2009, 8:30 AM ET Important FHA News09-18-2009, Hud announced sweeping FHA changes, the most I have seen in my careerPress Release: HUD No. 09-177 RATE LOCK ADVISORY Lock Advice: FLOATMBS prices are down -3/32. Second quarter GDP was revised higher 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 5.09% on Sep.29 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.612% Up 0.014%. 10 Year Treasury currently 2.950% Down -0.36% DJI Stocks $9,661.94, Down -80.26, -0.82% European and Asian Markets Down -0.62% Nymex Crude Oil currently $67.97 Up $1.26 Bill Introduced to Extend $8,000 First Ti...
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