PM Rate Lock Advice and Mortgage Market Update

Rate Lock Advice and Mortgage Market Update

November 6, 2009, 1:30 PT

RATE LOCK ADVISORY

Lock Advice: FLOAT
Today has been an extremely volatile session. After reaching a Morning low of -2/32, MBS prices turned higher again and are now up +8/32, above 9:45 ET pricing of +5/32. MBS Prices were helped by a higher than expected Unemployment Rate of 10.2%. The number of jobs lost in October was -190K, close to the consensus.

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

National Average Fixed Rate Mortgage
Down 0.01% at 5.07% on Nov.6

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.719% Down 0.009%.

10 Year Treasury currently 3.50% Down -0.07%

DJI Stocks Closed today at $10,023.42, Up 17.46, 0.17%

European and Asian Markets Up 0.373%

Nymex Crude Oil currently $77.65 Down $1.97

The big bailout banks find another way to rip off the consumer... just in a nick of time for them, but not for us. FHA is back in the spotlight. They didn't produce the audit that was due yesterday. Another credit tip from Kim Castro! See TBWS Video

Rates 11-06-09, 9:45 AM PT
30 Year Fixed to $417,000
Rate 4.75% Point 1.00, APR 4.901%
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

Rate Survey Discover where you will find the best rates

Education is the Only Effective Consumer Protection

Senate Passes the First Time Buyer Tax Credit Read Story

Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com

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