Mortgage rates are still at historic lows - don't know how much longer this can last!
Rate Lock Advice and Mortgage Market Update
November 30, 2009, 1:30 PT
RATE LOCK ADVISORY
Lock Advice: FLOAT With CAUTION
The Float with Caution recommendation is because rates have been down for a while and they almost always adjust in the other direction after a long run.
MBS prices are up 2/32.
This morning, the November Chicago PMI national manufacturing index rose to 56.1, the consensus forecast was 53.0RATE NOTES:
When MBS prices are up, Rates are down.
Lock advice can change throughout the day .
Good economic news = Bad Rate News.National Average Fixed Rate Mortgage
Down 0.01% at 4.86% on Nov.30Fannie Mae Mortgage Backed Securities
MBS Opened at 4.339% Down 0.018%.10 Year Treasury Currently 3.20% Down -0.01%
DJI Stocks $10,344.84, Up 34.92, 0.34%
European and Asian Markets Down -0.156%
Nymex Crude Oil Currently $77.19 Up $1.14
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 11-30-09, 12:50AM PT
30 Year Fixed to $417,000
Rate 4.375% Point 0.875, APR 4.507%
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
Education is the ONLY Effective Consumer Protection
President signs the First Time Buyer Tax Credit Extension Read Story
Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
Bill Ladewig
800.664.7283 (SAVE)
Bill Ladewig is a Mortgage Broker Licensed by the California Department of Real Estate 00968137
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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Hi Penny, thank you for the reblog, it is very much appreciated.
Bill - you've done a terrific job with a snapshot of the market here! Thanks for sharing.