Rate Lock Advisory

RATE LOCK ADVISORY

August 18 , 2009, 10:00 AM PST

Lock Advice: LOCK
Unfavorable repricing may be a risk from some investors. MBS prices are down -7/32 below 9:45 AM ET initial lender pricing of -1/32. Many investors probably priced at lower levels today, reducing the risk.When MBS prices are up, yields (rates) are down.

NOTE: Lock advice can change throughout the day .

National Average Fixed Rate Mortgage
Unchanged at 5.23% on Aug.18

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.843% Up 0.011%.

10 Year Treasury currently 3.50% Up 0.02%

DJI stocks 9,213.11, Up 77.77, 0.85%

European and Asian Markets Up 0.898%

Nymex Crude Oil currently $71.14 Up $1.48

This AM, July PPI showed a decline of -0.9% from June, and PPI decreased -6.8% from one year ago. Core PPI fell -0.1% and increased at a 2.6% annual rate. Both PPI and Core PPI came in lower than the consensus forecasts.

PPI measures the change in prices, paid by producers, for a fixed basket of capital and consumer goods. It also measures the change in prices received by the manufacturing, mining, agriculture and electric utility industries.

Similar to last week's CPI report, today's data indicates that inflation is not a concern in the short-term. July Housing Starts came in at 581K annual units, below the consensus forecast of 600K. Building Permits, a leading indicator, also fell short of expectations. The weakness came entirely from multi-family units.

No more economic data will be released today.

WORRIED ABOUT AN OUT OF TOWN APPRAISER?
If you are concerned about the value of your listing and need a local appraiser consider FHA financing where we can still control the appraiser selection

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Click for inter-day Rate Lock and Market updates

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Time is running out, don't let your buyers delay, the $8,000 Tax Credit is expiring on November 30.

Up to a $8000 Tax Credit is available from IRS

10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier

Your Fha Guru

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

The Mortgage Markets and Rate Lock Advisory is updated several times a day and is available at http://www.yourfhaguru.com

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