Bill Ladewig's Blog: MORTGAGE INTEREST RATE LOCK ADVISORY 10/20/16

MORTGAGE INTEREST RATE LOCK ADVISORY 10/20/16

MORTGAGE INTEREST RATE LOCK ADVISORY
October 20, 2016, 7:45 AM PT 
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I'm pleased to have been invited to be a LOS Instructor
And, to Have Joined A Great Team of Very Experienced Professionals
 
MARKET INDICATORS
  • Average 30-Yr FRM, up 0.05 points to 3.47% on 10-13-16
  • Rate Price Based on 3% MBS, Up 0.03 Point.
  • DJI Stocks - Currently, $18,144.69, Down ($57.93) -0.32%
  • Asian & European Stock Market Indexes Up 0.43%
  • Crude Oil (WTI) - Currently, $50.50, Down ($1.10)
  • Gold 1 Ounce - Currently, $1,268.30, Down ($3.10)
  • Mortgage Backed Securities (MBS) prices are now in neutral territory and bumping against heavy resistance. The odds are slim that it can punch through the resistence to continue with lower prices we've enjoyed for the past three days.
  • Wednesday: Prices for rates lowered by 0.07 point. This was not enough for most lenders to post lower rate fees. The market experienced medium volatility. 
  • 30-year fixed-rate mortgage (FRM) averaged 3.52 percent with an average 0.5 point for the week ending October 20, 2016, up from last week when they averaged 3.47 percent. A year ago at this time, the 30-year FRM averaged 3.70 percent. 
 
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Comment balloon 0 commentsBill Ladewig • October 20 2016 07:51AM

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