MORTGAGE INTEREST RATE LOCK ADVISORY
October 7, 2016, 7:50 AM PT
- 1-15 Day Close: Cautiously Neutral
- 16-30 Day Close: Cautiously Neutral
- 31-45 Day Close: Cautiously Neutral
- Recommendations can change throughout the day.
- Click for current Lock Advice
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MORTGAGE MARKET INDICATORS
- 10-6-16: Average 30-Yr FRM, unchanged at 3.42%.
- Rate Price Based on 3% MBS, Down -0.02 Point.
- DJI Stocks - Currently, $18,253.57, Down ($14.93) -0.08%
- Asian & European Stock Market Indexes Down -0.255%
- Crude Oil (WTI) - Currently, $50.26, Down ($0.18)
- Gold 1 Ounce - Currently, $1,258.10, Up $4.90
MARKET REPORTS & ANALYSIS
- Cautiously Neutral Lock Advice. The rate market experienced a sharp increase Tuesday and four of the last five days have been increases. The market is now in oversold territory and may be near the end of this move. However, If you remain unlocked be very careful.
- Mortgage rates Up again Thursday. Yesterday, rate prices were up 0.21 point. This was enough to increase rate fees. The market experienced moderate volatility.
- 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending October 6, 2016, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.76 percent.
NEWS LINKS
- Friday AM Brief
- Millennials shun homebuying in coastal cities
- Shortage of real estate appraisers is hurting the housing market
- Brother and Sister in court over mortgage fraud
- The new normal: National average time to close settles at 46 days
- FHA Condo Relief Coming: President Signs Bill
- Reverse mortgages is the hot new retirement planning tool
As For Contracts...
The large print giveth, but the small print taketh away. ~Tom Waits
CONSUMER EDUCATION = CONSUMER PROTECTION
- Rates and Points Explained
- FHA 203k Renovation Mortgage - Video
- Energy Efficient Mortgages - Video
- What You Should Know About APR
- How To Shop for Mortgage Rates.
- Beware of Misleading Lender Advertising
- Education is the best consumer protection
Bill Ladewig
Real Estate & Mortgage Broker
866.204.9733 Office
760.685.0480 Cell
BRE: 00968137
NMLS: 291249
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