Bill Ladewig's Blog: MORTGAGE INTEREST RATE LOCK ADVISORY 9/8/16

MORTGAGE INTEREST RATE LOCK ADVISORY 9/8/16

MORTGAGE INTEREST RATE LOCK ADVISORY
September 8, 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, down 0.02 point at 3.44% on 9-8-16.
    Rate Price Based on 3% MBS, Up 0.08 Point. 
    DJI Stocks - Currently, $18,483.37, Down ($42.77) -0.23%
    Asian & European Stock Market Indexes Down -0.091%
    Crude Oil (WTI) - Currently, $46.03, Up $0.53
    Gold 1 Ounce - Currently, $1,346.30, Down ($1.10)
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MARKET REPORTS & ANALYSIS     
  • Mortgage rates continue to move sideways. Mortgage rates prices moved up 0.03 point Wednesday. This was not enough to lower mortgage rates or fees. The market experienced moderate to low volatility yesterday. 
  • 30-year fixed-rate mortgage (FRM) averaged 3.44 percent with an average 0.6 point for the week ending September 8, 2016, down from last week when it averaged 3.46 percent. A year ago at this time, the 30-year FRM averaged 3.90 percent.
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Proper Perspective
The teenager lost a contact lens while playing basketball in his driveway. After a brief, fruitless search, he gave up. His mother took up the cause and within minutes she had found the lens.
"I looked everywhere, how did you do that?" he asked.
"We weren't looking for the same thing," she explained. "You were looking for a small piece of plastic. I, on the other hand, was looking for $150!"

 

Comment balloon 0 commentsBill Ladewig • September 08 2016 07:48AM

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