MORTGAGE INTEREST RATE LOCK ADVISORY
February 26, 2016, 7:45 AM PST
FEATURED LOAN
- FHA 203K Renovation Mortgage
- Renovate and Purchases or Refinance with one loan.
- All You Need To Know About 203K
LOCK ADVISORY - Click for current Lock Advice
- 1-14 Day Close: LOCK
- 15-30 Day Close: FLOAT With Caution
- 31-45 Day Close: FLOAT
- Recommendations can change throughout the day.
MORTGAGE MARKET INDICATORS - Click for current Markets
- Freddie Mac Average:30-Yr FRM, down 0.03 at 3.62% on 2-25-16.
Rate Price Based on 3% MBS, Up 0.28 Point.
DJI Stocks - Currently, $16,739.38, Up $42.09 0.25%
Asian & European Stock Market Indexes Up 0.662%
Crude Oil (WTI) - Currently, $33.90, Up $0.83
Gold 1 Ounce - Currently, $1,227.00, Down ($13.60)
MARKET REPORTS & ANALYSIS
- Across the board, this morning's reports are ALL negative for Mortgage Rates.
January Personal Income 0.50% versus est. 0.40%
Personal Spending 0.50% versus est. 0.30%
Core PCE YOY 1.70% versus est. 1.20%
Feb. Consumer Sentiment 91.70 versus est. 91.00
- 30-year fixed-rate mortgage (FRM) averaged 3.62 percent with an average 0.6 point for the week ending February 25, 2016, down from last week when it averaged 3.65 percent. A year ago at this time, the 30-year FRM averaged 3.80 percent.
- January Headline Durable Goods Were Much Stronger than Expected at 4.9% versus expected 2.5% and are negative for Mortgage pricing causing us to test our floor of support this morning.
NEWS LINKS
- Friday AM Brief
- FHA top gun won't rule out further insurance-premium cuts
- 5 Things Most Real Estate Agents Don't Know About Low Down Payment Options
- No More VA Loan Limit Cap or Seller Mandatory Fees
- Oil extends rally to $35 after Iran welcomes output freeze
- Ellie Mae: Average Days To Close Increased Again In January
- House Flipping Is Making a Comeback in Las Vegas
- Mortgage refinance applications spike thanks to low rates
- A caboose in the woods
- Mile-high skyscraper set to be world's tallest and twice as tall as the Burj Khalifa
- Zillow founder: Is virtual touring next for the housing market?
Words of Wisdom to Get You Through the Weekend.
- If at first you don't succeed, destroy all evidence that you tried.
- A conclusion is the place where you got tired of thinking.
- Experience is something you don't get until just after you need it.
- The hardness of the butter is proportional to the softness of the bread.
- To steal ideas from one person is plagiarism; to steal from many is research.
- The problem with the gene pool is that there is no lifeguard.
- The sooner you fall behind, the more time you'll have to catch up.
- The colder the x-ray table, the more of your body is required to be on it.
- Everyone has a photographic memory; some just don't have film.
- If at first you don't succeed, skydiving is not for you.
- If your car could travel at the speed of light, would your headlights work?
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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