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.
 
____________________________________________________________________
 
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 (Keller Williams Realty) almost 2 years ago

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

Posted by Bill Ladewig, Experience Is Your Advantage (LoanOfficerSchool.com) almost 2 years ago

Participate