Bill Ladewig's Blog: MORTGAGE INTEREST RATE LOCK ADVISORY 1/4/17

MORTGAGE INTEREST RATE LOCK ADVISORY 1/4/17

MORTGAGE INTEREST RATE LOCK ADVISORY
January 4, 2017, 7:45 AM PT 
MARKET INDICATORS
  • Average 30-Yr FRM, up 0.14 points to 4.30% on 12-22-16
  • Rate Price Based on 3.5% MBS, Up 0.08 Point.
  • DJI Stocks - Currently, $19,898.09, Up $16.33 0.08%
  • Asian & European Stock Market Indexes Up 0.231%
  • Crude Oil (WTI) - Currently, $52.34, Up $0.01
  • Gold 1 Ounce - Currently, $1,167.50, Up $3.80
MARKET REPORTS & ANALYSIS    
  • Rate Lock Advisory. My advice has basically remained the same since November 8th. Continue to lock on price improvements. News and technical indicators provide no sign of rates changing direction. In this uncertain market. Float rates at your own risk.
  • Wednesday's Market: Today's quiet news day is not expected to significantly move rates..
  • Tuesday's Mortgage Rate Results: Mortgage rates based on Mortgage Backed Securities (MBS) closed up 0.08 point.
  • 30-year fixed-rate mortgage (FRM) averaged 4.32 percent with an average 0.5 point for the week ending December 29 2016, up from last week when it averaged 4.30 percent. A year ago at th 
 
The odds of going to the store for a loaf of bread and coming out 
with only a loaf of bread are three billion to one. ~ Erma Bombeck
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Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.
Comment balloon 3 commentsBill Ladewig • January 04 2017 03:17PM

Comments

2017 seems to be bringing optimism all around. Buyers should take your advice to the heart and lock now before the next interest rate increase.

Posted by Les & Sarah Oswald, Broker, Realtor and Investor (Realty One Group) almost 4 years ago

It is always great to have the latest mortgage information for our Buyer's. Thanks for sharing the update. I hope you have a great afternoon.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (John Roberts Realty) almost 4 years ago

Les & Sara, thanks for your comment.  Even though I expect rates to increase this year I am also optimistic increased business in spite of the rates.

 

Pat, thank you for your comment.  Best wishes that 2017 exceeds your wishes.

Posted by Bill Ladewig, Experience Is Your Advantage (LoanOfficerSchool.com) almost 4 years ago

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