Rate Lock Advice and Mortgage Market Update

Rate Lock Advice and Mortgage Market Update

October 21, 2009, 4:00 PM ET

RATE LOCK ADVISORY

Lock Advice: FLOAT
Busy day in Mortgage Land. MBS prices dropped to -12/32 then rebounded to -1/32. It was a volatile session.

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
Unchanged at 5.04% on Oct.21

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.696% Down 0.016%.

10 Year Treasury currently 3.390% Up 0.04%

DJI Stocks closed the day at $9,949.36, Down -92.12, -0.92%

European and Asian Markets Up 0.095%

Nymex Crude Oil currently $80.87 Down $0.50

Rates 10-21-09, 10:50 AM PT
30 Year Fixed to $417,000
Rate 4.750% Point 1.25, APR 4.921%
APR Based on $350,000 Loan at 80% LTV
Above Rates 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 Where you will find the best rates

Education is the Only Effective Consumer Protection

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

October 2009, Rate Lock Advice and Mortgage Market Update

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