Rate Lock Advice and Mortgage Market Update
November 3, 2009, 8:20 PT
RATE LOCK ADVISORY
Lock Advice: LOCK
There is a chance of increased rates from investors that priced early. MBS prices are down -3/32, below 9:45 ET pricing of +2/32. With major economic news later this week, volatility may remain high during the week.
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.2
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.699% Up 0.026%.
10 Year Treasury currently 3.450% Down 0%
DJI Stocks $9,741.00, Down -48.44, -0.49%
European and Asian Markets Down -1.135%
Nymex Crude Oil currently $78.13 Down $0.00
Rates 11-03-09, 8:15 AM PT
30 Year Fixed to $417,000
Rate 4.75% Point 1.125, APR 4.912%
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
Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
New FHA Condo Rules have been extended to November 2, 2009 - Story
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
October 2009, Rate Lock Advice and Mortgage Market Update
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage What is APR
For those of you who missed Think Big, Work Small this morning... according to InterThinx, the mortgage 
fraud specialists, appraisal fraud is up 46% from the same time in 2008. InterThinx
But wait, who would be the perpetrators, has not HVCC made us safe? Thanks to HVCC, Mortgage brokers, those evil, underhanded, self-serving scourges of real estate and sole cause of the mortgage crisis have not been able to order appraisals (except FHA) or even talk to appraisers in the third quarter of 2009.
OMG, that leaves (choke) the innocent victims of wicked mortgage brokers, Banks. There must be some mistake because we all know that banks would never do anything underhanded.
I am sure we will soon learn, probably from a trusted politician, that, possibly, the cause was appraisers still tainted by previous mortgage broker contact. These appraisers will certainly be sent to rehab at taxpayer expense.
Soon, thank god, due to vigilent efforts of our trusted banks and politicians, the world will be a better place. Mortgage brokers will have disappeared, banks will make all home loans unfettered by pesky competitors and politicians will be provided will deserved taxpayer paid Cayman Island vacations to visit their secret bank accounts.
Is that the happy ending what you want?
Your Fha Guru
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
Rate Lock Advisory is updated several times a day and is available at http://www.yourfhaguru.com
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage What is APR
Rate Lock Advice and Mortgage Market Update
November 1, 2009, 7:00 PT
RATE LOCK ADVISORY
Lock Advice: LOCK
MBS prices are down 5/32. Construction Spending, ISM Manufacturing, and Pending Home Sales will be released at 10:00 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
UP 0.02% at 5.09% on Oct.30
10 Year Treasury currently 3.390% Down -0.02%
DJI Stocks $9,743.57, Up 30.84, 0.32%
European and Asian Markets Down -0.58%
Nymex Crude Oil currently $76.92 Down $0.08
Rates 10-30-09, 8:00 AM PT
30 Year Fixed to $417,000
Rate 4.875% Point 1.000, APR 5.023%
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 Where you will find the best rates
Education is the Only Effective Consumer Protection
Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
New FHA Condo Rules have been extended to November 2, 2009 - Story
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
October 2009, Rate Lock Advice and Mortgage Market Update
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage What is APR
California AG Wants Pay Option ARM Answers
HOUSING WIRE
By AUSTIN KILGORE
October 29, 2009 4:26 PM CST
California attorney general Edmund Brown Jr. today sent a letter to 10 major bank and loan servicers in the state calling for the disclosure of their detailed plans to help certain homeowners manage the drastic payment increases on their pay option adjustable rate mortgages (ARMs).
California homeowners hold nearly 60% of the nation's pay option ARMs originated between 2004 and 2008, the attorney general's office said. Nationally, about 1m of these loans are schedule to reset in the next four years, creating higher payments for many loans on the brink of negative equity.
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
October 2009, Rate Lock Advice and Mortgage Market Update
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage What is APR
Rate Lock Advice and Mortgage Market Update
October 30, 2009, 8:00 PT
RATE LOCK ADVISORY
Lock Advice: FLOAT
MBS prices are up +6/32. Personal Income and Core PCE inflation came in very close to expectations.
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 Oct.29
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.708% Up 0.031%.
10 Year Treasury currently 3.440% Down -0.09%
DJI Stocks $9,882.55, Down -80.03, -0.8%
European and Asian Markets Down -0.199%
Nymex Crude Oil currently $78.57 Down $1.30
Rates 10-30-09, 8:00 AM PT
30 Year Fixed to $417,000
Rate 4.875% Point 1.000, APR 5.023%
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 Where you will find the best rates
Education is the Only Effective Consumer Protection
Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
New FHA Condo Rules have been extended to November 2, 2009 - Story
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
October 2009, Rate Lock Advice and Mortgage Market Update
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage What is APR
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Make Experience Your Advantage. Bill has closed thousands of home loans since 1970 as a FHA and VA Specialist. Bill's mortgage classes have taught lending to hundreds of loan officers and Realtors.
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