BluefoxToday blog : Rate Lock Advice & Mortgage Market Update

Rate Lock Advice & Mortgage Market Update

January 06, 2010, 8:30 PT

RATE LOCK ADVISORY

Lock Advice:  LOCK
MBS prices are down -10/32.  Unfavorable repricing is a risk from most investors.   Rising expectations for Friday's Employment report are hurting MBS markets.

RATE NOTES:
When MBS prices are up, Rates are down.
Lock advice can change throughout the day.  Update
Good economic news = Bad Rate News.

National Average Fixed Rate Mortgage
Unchanged at 5.2% on Jan.5

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.81% Down 0.037%.

110 Year Treasury Currently 3.820% Up 0.05%

DJI Stocks $10,587.66,  Up 15.64, 0.15%

European and Asian Markets Up 0.131%

Nymex Crude Oil Currently $82.33 Up $0.56 

• Vote on To Big To Fail. Move your money to local banks and credit unions
• Bad News! Bill Introduced in House to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
• Don't Miss The Real Deal - Real Estate closings in 2010 Real Deal
• Brokers, If you value your business then watch this three minute video TBWS Video

Rates 01-05-10, 8:40 PT
30 Year Fixed to $417,000
Rate 4.750%, Point 1.375, APR 5.004%

APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required