Bill Ladewig's Blog

MORTGAGE INTEREST RATE LOCK ADVISORY 9/6/16

MORTGAGE INTEREST RATE LOCK ADVISORY
September 6, 2016, 8:00 AM PT 
 
FEATURED LOANS

LOCK ADVISORY -
  Click for current Lock Advice
  • 1-14 Day Close:   FLOAT With Caution
  • 15-30 Day Close: FLOAT With Caution
  • 31-45 Day Close: FLOAT With Caution
  • Recommendations can change throughout the day.   
MORTGAGE MARKET INDICATORS
  • Weekly Average 30-Yr FRM, up 0.03 point at 3.46% on 9-1-16.
    Rate Price Based on 3% MBS, Up 0.13 Point. 
    DJI Stocks - Currently, $18,507.78, Up $88.48 0.48%
    Asian & European Stock Market Indexes Up 0.362%
    Crude Oil (WTI) - Currently, $44.18, Up $1.02
    Gold 1 Ounce - Currently, $1,320.60, Up $4.30
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MARKET REPORTS & ANALYSIS     
  • Last Friday's, weaker employment data was less than was expected but more importantly - weaker than was needed for a Sept rate hike. This is positive for pricing.
  • Mortgage rates are moving sideways again today. Mortgage rates prices moved up 0.08 point Friday. This was not enough to increase mortgage rates or fees. The market experienced moderate to low volatility yesterday. 
  • 30-year fixed-rate mortgage (FRM) averaged 3.46 percent with an average 0.5 point for the week ending September 1, 2016, up from last week when it averaged 3.43 percent. A year ago at this time, the 30-year FRM averaged 3.89%. 
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Comment balloon 0 commentsBill Ladewig • September 06 2016 07:50AM
MORTGAGE INTEREST RATE LOCK ADVISORY 9/6/16
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