PM Mortgage Market & Lock Commentary - 12-20-2011

DAILY MORTGAGE LOCK ADVISORY

December 20, 2011, 1:00 PM PST

Click for Lock Advice Updated Several Times Daily

Mortgage Interest Rate lock Advice for locks within 7 days: LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.30 point.

30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT with Caution

There is not conclusive evidence to lock but, In this uncertain market the best advice is to lock at historic low rates.

MORTGAGE MARKET INDICATORS
National Average Fixed Rate Mortgage 3.94%
MBS (3.5%) - 102.36, High: 102.66, Low: 102.34
DJI Stocks closed at $12,103.43, Up $337.17, Change 2.786%
Asian & European Stock Market Indexes Up 1.422%
Nymex Crude Oil Currently $97.22 Up $3.34

MORTGAGE NEWS BRIEFS
7 Things Highly Productive People Do
You have more important things to focus on than, um, focusing. Get back on track with these tips.
You probably don't want to admit it but you love distractions. In fact, just like monkeys, you get a shot of dopamine every time something pulls you in another direction. Why do you think you check your email so much?Read more in Linkedin

Mortgage Fees Would Rise Under Payroll Tax Cut Deal
Homebuyers, beware.
In exchange for a two-month tax cut, the Senate on Saturday approved a permanent increase in fees attached to mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA).
The fee hike would apply to new mortgages and new refinances, and would last for the life of the loans Read More Linkedin.

Next Week Ahead: Housing and More Europe Watching
Written By Dunstan Prial
Housing data will dominate the economic reports released next week ahead of the Christmas holiday.
The National Association of Home Builders' housing market index is out on Monday and is used as a gauge of home buying sentiment. The index isn't expected to move from its November level.
The Commerce Department on Tuesday will issue its report on housing starts and permits. That number also isn't expected to move much from November. On Thursday the Federal Housing Finance Agency releases its home price index.