Bill Ladewig's Blog: MORTGAGE INTEREST RATE LOCK ADVISORY 1/31/17

MORTGAGE INTEREST RATE LOCK ADVISORY 1/31/17

MORTGAGE INTEREST RATE LOCK ADVISORY
January 31, 2017, 7:55 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 -0.24 Point. 
  • DJI Stocks - Currently, $19,821.51, Down ($149.62) -0.75%
  • Asian & European Stock Market Indexes Down -0.178%
  • Crude Oil (WTI) - Currently, $53.47, Up $0.84 
  • Gold 1 Ounce - Currently, $1,216.40, Up $19.80
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.
  • Tuesday Market January Chicago PMI 50.3 versus estimate of 55.0. Certainly much lower than expected, but any reading above 50 is shows expansion. Generally, this would be a slight positive for pricing 
  • Monday's Rate Results: Mortgage Pricing based on Mortgage Backed Securities (MBS) closed Monday at 0.04 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 2 commentsBill Ladewig • January 31 2017 04:00PM

Comments

Thank you for keeping us posted and up to date. Best of luck!

Posted by Jeremy K. Frost, Associate Broker, CNE, CRS, ePro, PSA, ABR, SRS (Keller Williams Realty) over 3 years ago

Jeremy, thanks for your comment.  Best wishes for your record year.

Posted by Bill Ladewig, Experience Is Your Advantage (LoanOfficerSchool.com) over 3 years ago

Participate