Bill Ladewig's Blog: MORTGAGE INTEREST RATE LOCK ADVISORY 2/1/17

MORTGAGE INTEREST RATE LOCK ADVISORY 2/1/17

MORTGAGE INTEREST RATE LOCK ADVISORY
February 1, 2017, 7:55 AM PT 

MARKET INDICATORS
  • Average 30-Yr FRM, Up 0.10 points to 4.19% on 1-26-17
  • Rate Price Based on 3.5% MBS, Up 0.26 Point. 
  • DJI Stocks - Currently, $19,893.13, Up $29.04 0.15%
  • Asian & European Stock Market Indexes Up 0.514%
  • Crude Oil (WTI) - Currently, $53.30, Up $0.49
  • Gold 1 Ounce - Currently, $1,204.40, Down ($7.60)
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.
  • Wednesday Market: January ADP Private Payroll Change 246K versus industry estimate of 165K. This is much stronger reading than expected and generally negative for pricing. 
  • Tuesday's Rate Results: Mortgage Pricing based on Mortgage Backed Securities (MBS) closed Monday down 0.12 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 0 commentsBill Ladewig • February 01 2017 04:01PM

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