- REVERSE MORTGAGE (HECM)
- Financial Freedom for Qualified Seniors
- Click for Reverse Mortgage Details
- 1-14 Day Close: LOCK on Price Improvements
- 15-30 Day Close: LOCK
- 31-45 Day Close: LOCK
- Recommendations can change throughout the day.
- Freddie Mac Average:30-Yr FRM, Up 0.05% to 3.64% on 5-26-16.
Rate Price Based on 3% MBS, Down -0.04 Point.
DJI Stocks - Currently, $17,861.99, Up $33.70 0.19%
Asian & European Stock Market Indexes Up 0.302%
Crude Oil (WTI) - Currently, $48.90, Down ($0.58)
Gold 1 Ounce - Currently, $1,215.60, Down ($7.20)
- Bond Markets will close early today.
- Thursday, Rate prices dropped 0.23 point.
- 30-year fixed-rate mortgage (FRM) averaged 3.64 percent with an average 0.5 point for the week ending May 26, 2016, up from last week when it averaged 3.58 percent. A year ago at this time, the 30-year FRM averaged 3.87 percent.
- Lock in Uncertain Markets. Mortgage Backed Securities (MBS) have been moving sideways for the past two weeks and the current odds of rates increasing outweigh the odds of a decrease. Mortgag
- Rate prices and MBS prices run in opposite directions. Rates are up when MBS prices are down.
Keep an close eye on the MBS market. While MBS yields are up against overhead pressure they could also breakout and if there is a breakout it will be large.
- Friday AM Brief
- Chinese nationals became the largest foreign buyers of US homes last year
- House passes sweeping change to MLO licensing rules
- Fannie Mae and Freddie Mac being 'held captive'
- Did Wells Fargo pay off new mayor's mortgage?
- Why are both sides happy about latest ruling in Move/Zillow battle?
- Renovation loans allow more people to buy homes
- Reverse mortgages gain steam as reputation improves
- The Big Short's Michael Burry just bailed on big bank stocks
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
Real Estate & Mortgage Broker
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