Bill Ladewig's Blog: MORTGAGE INTEREST RATE LOCK ADVISORY 10/6/16

MORTGAGE INTEREST RATE LOCK ADVISORY 10/6/16

MORTGAGE INTEREST RATE LOCK ADVISORY
October 6, 2016, 7:50 AM PT 
  • 1-15 Day Close:   Cautiously Neutral
  • 16-30 Day Close: Cautiously Neutral
  • 31-45 Day Close: Cautiously Neutral
  • Recommendations can change throughout the day.  
  • Click for current Lock Advice 
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MORTGAGE MARKET INDICATORS
  • 10-6-16: Average 30-Yr FRM, unchanged at 3.42%.
  • Rate Price Based on 3% MBS, Up 0.16 Point.
  • DJI Stocks - Currently, $18,200.55, Down ($80.48) -0.44%
  • Asian & European Stock Market Indexes Up 0.102%
  • Crude Oil (WTI) - Currently, $50.11, Up $0.28
  • Gold 1 Ounce - Currently, $1,255.10, Down ($13.70)
MARKET REPORTS & ANALYSIS     
  • Cautiously Neutral Lock Advice. The rate market experienced a sharp increase yesterday and four of the last five days have been increases. The market is now in oversold territory may be near the end of this move. However, If you remain unlocked be very careful.
  • Mortgage rates down slightly Wednesday. Yesterday, rate prices were down 0.09 point. This was not enough to increase rate fees. The market experienced moderate volatility. 
  • 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending October 6, 2016, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.76 percent.
  
As For Contracts...
The large print giveth, but the small print taketh away. ~Tom Waits
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Comment balloon 0 commentsBill Ladewig • October 06 2016 06:58AM

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