PM Rate Lock Advice and Mortgage Market Update

Rate Lock Advice and Mortgage Market Update

November 10, 2009, 1:15 PT

RATE LOCK ADVISORY

Lock Advice: FLOAT
MBS prices are up +4/32. No economic data came out today. Demand was close to average for the 10-Yr. Treasury auction with oreign investors purchasing 47% of the total.
Wednesday, Mortgage markets will be closed
Thursday, Jobless Claims will be released at 8:30 ET, and there will be a 30-yr Treasury auction at 1:00 ET.

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 5.08% on Nov.10

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.613% Down 0.06%.

10 Year Treasury Currently 3.470% Down -0.05%

DJI Stocks closed the day at $10,246.97, Up 20.03, 0.2%

European and Asian Markets Up 0.057%

Nymex Crude Oil Currently $79.12 Down $0.31

Take 5 minutes to watch this humorous and educational video... The big bailout banks find another way to rip off the consumer... just in a nick of time for them, but not for us. See TBWS Video

Rates 11-10-09, 7:57 AM PT
30 Year Fixed to $417,000
Rate 4.75% Point 0.625, APR 4.886%
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

• How to Find Legitimate Rate Quotes
• What is APR
• What is Yield Spred Premium (YSP)
• Avoid Closing Day Nightmares

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