Bill Ladewig's Blog: MORTGAGE INTEREST RATE LOCK ADVISORY 1/30/17

MORTGAGE INTEREST RATE LOCK ADVISORY 1/30/17

MORTGAGE INTEREST RATE LOCK ADVISORY
January 30, 2017, 7:45 AM PT 
 
  • 1-15 Day Close:   FLOAT With Caution
  • 16-30 Day Close: LOCK
  • 31-45 Day Close: LOCK
  • Recommendations can change throughout the day.  
  • Click for current Lock Advice 
MARKET INDICATORS
  • Average 30-Yr FRM, Up 0.10 points to 4.19% on 1-26-17
    Rate Price Based on 3.5% MBS, Down -0.09 Point. 
    DJI Stocks - Currently, $19,908.84, Down ($184.94) -0.93%
    Asian & European Stock Market Indexes Down -0.496%
    Crude Oil (WTI) - Currently, $52.74, Down ($0.43)
    Gold 1 Ounce - Currently, $1,199.70, Up $8.30
MARKET REPORTS & ANALYSIS    
  • Rate Lock Advisory. Close in 15 days or less, Float this morning and check market this afternoon. Still recommend locking loans that are scheduled to close >15 days.
  • Monday Market A mixed bag here, Income was a tad lighter than expected but still had a good monthly gain, Spending finally picked up though and Core PCE YOY moved up again but is still below 2%. So far, rates have not had a major reaction to this data set. 
  • Friday's Rate Results: Mortgage Pricing based on Mortgage Backed Securities (MBS) closed Down 0.16 Point
  • 30-year fixed-rate mortgage (FRM) averaged 4.19 percent with an average 0.4 point for the week ending Jan. 26, 2017, up from last week when it averaged 4.09 percent. A year ago at this time, the 30-year FRM averaged 3.79 percent.
 
 
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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 1 commentBill Ladewig • January 30 2017 03:48PM

Comments

It is still a wonderful time to buy a home with rates like those!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) almost 2 years ago

Participate