Bill Ladewig's Blog: MORTGAGE INTEREST RATE LOCK ADVISORY 10/1/16

MORTGAGE INTEREST RATE LOCK ADVISORY 10/1/16

MORTGAGE INTEREST RATE LOCK ADVISORY
October 1, 2016, 8:15 AM PT 
  • 1-14 Day Close:   LOCK 
  • 15-30 Day Close: LOCK 
  • 31-45 Day Close: FLOAT Cautiously
  • Recommendations can change throughout the day.  
  • Click for current Lock Advice 
_____________________________________________________________________________

 
MORTGAGE MARKET INDICATORS
  • Weekly Average 30-Yr FRM, down 0.06 point at 3.42% on 9-29-16.
  • Rate Price Based on 3% MBS, Up 0.07 Point. 
  • DJI Stocks - Currently, $18,242.61, Down ($65.54) -0.36%
  • Asian & European Stock Market Indexes Up 0.463%
  • Crude Oil (WTI) - Currently, $48.15, Down ($0.09)
  • Gold 1 Ounce - Currently, $1,314.10, Down ($2.50)
MARKET REPORTS & ANALYSIS     
  • Mortgage rates open Higher again Monday. Last week rates prices were up 0.03 point. This was not enough to change mortgage rate fees. The market experienced moderate volatility. 
  • Very nice reading in ISM MFG as August was below 50 (49.4) so that number appears to be a hiccup and not a trend. Overall, today's ISM MFG reading is a slight negative for pricing.
  • Last week another round of very strong jobs data and the GDP report was higher than expected with little effect on rates.
  • 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending September 29, 2016, down from last week when it averaged 3.48 percent. A year ago at this time, the 30-year FRM averaged 3.85 percent.
  
Important Life Questions
 
if nothing sticks to teflon what makes the teflon stick to the pan?

Why doesn't glue stick to the inside of the bottle?

Is it wrong for a vegetarian to eat animal crackers?

If people from Poland are called ""poles"" are people from Holland called ""holes?""

Can you cry under water?

Is there an abbreviation for the word abbreviation?

Why are there interstate highways in Hawaii?
Comment balloon 0 commentsBill Ladewig • October 03 2016 08:28AM

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