Rate Lock Advice and Mortgage Market Update December 23, 2009, 9:40 PT RATE LOCK ADVISORY Lock Advice: FLOATMBS prices are up +4/32. Core PCE inflation came in lower than expected. RATE 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 UP 0.06% at 5.04% on Dec.22 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.851% Up 0.088%. 10 Year Treasury Currently 3.720% Down -0.04% DJI Stocks $10,464.25,  Down -0.68, -0.01% European and Asian Markets Up 0.563% Nymex Crude Oil Currently $76.43 Up $2.03 If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-23-09, 1:00 PT 30 Year Fixed to $417,000Rate 4.875% Point 0.750, APR 5.004%APR Based on $35... 12/23/2009

Rate Lock Advice and Mortgage Market Update December 22, 2009, 8:00 PT RATE LOCK ADVISORY Lock Advice:  LOCKUnfavorable repricing is a risk from early investors. MBS prices are down -15/32 , below 9:45 ET pricing of -10/32, and the early high of -6/32.  Existing Home Sales came in higher than expected, pushing MBS markets lower.Third quarter GDP was revised lower than expected. RATE 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 UP 0.01% at 4.98% on Dec.21 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.763% Up 0.122%. 10 Year Treasury Currently 3.740% Up 0.05% DJI Stocks $10,453.36,  Up 39.22, 0.38% European and Asian Markets Up 1.132% Nymex Crude Oil Currently $73.29... 12/22/2009

Rate Lock Advice and Mortgage Market Update December 21, 2009, 1:10 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -21/32Unfavorable repricing may be a risk. No economic data will be released today. RATE 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 Unchanged at 4.97% on Dec.21 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.641% Up 0.067%. 10 Year Treasury Currently 3.690% Up 0.14% DJI Stocks $10,414.14,  Up 85.25, 0.83% European and Asian Markets Up 1.088% Nymex Crude Oil Currently $72.47 Down $0.89 If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-21-09, 1:00 PT 30 Year Fixed to $417,000Rate 4.75% Point 1.125,... 12/21/2009

Rate Lock Advice and Mortgage Market Update December 21, 2009, 10:55 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -17/32Unfavorable repricing may be a risk. No economic data will be released today. RATE 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 Unchanged at 4.97% on Dec.21 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.641% Up 0.067%. 10 Year Treasury Currently 3.660% Up 0.11% DJI Stocks $10,430.84,  Up 101.95, 0.99% European and Asian Markets Up 1.088% Nymex Crude Oil Currently $72.04 Down $1.32       Brokers, If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-21-09, 9:00 PT30 Year Fixed to $417,000Rate 4.... 12/21/2009

Rate Lock Advice and Mortgage Market Update December 18, 2009, 1:10 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -9/32. No economic data will be released today. RATE 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 Unchanged at 4.97% on Dec.18 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.575% Down 0.061%. 10 Year Treasury Currently 3.540% Up 0.04% DJI Stocks $10,328.89,  Up 20.63, 0.2% European and Asian Markets Down -0.599% Nymex Crude Oil Currently $72.96 Up $0.31   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-18-09, 11:00 PT 30 Year Fixed to $417,000Rate 4.625% Point 1.000, APR 4.772%APR Based on $350,0... 12/18/2009

This post is inspired by Tim Bradford's blog on the new revised GFE that appears in January. The revised GFE is another failed attempt to protect consumers,  The problem is, consumers cannot be protected with forms because those who wish to deceive will always find a way.  Consumer education is the only real consumer protection. The new GFE requires lenders to guarantee their fees but it allows lenders to estimate fees for Title, Settlement, Prepaid Interest and Impounds.  Once again, it appears the rules are made by people with absolutely no understanding of real world lending. Based on my experience, consumers are less interested in the individual fees than the grand total.   So, guess which fees will continue to be understated. So, how can consumers be protected?  The answer is only ... 12/17/2009

Rate Lock Advice and Mortgage Market Update December 16, 2009, 8:40 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are up 2/32.   CPI came in slightly lower than expected, while Housing Starts were right on target. RATE 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 UP 0.01% at 4.96% on Dec.15 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.685% Up 0.006%. 10 Year Treasury Currently 3.560% Down -0.04% DJI Stocks $10,493.80,  Up 41.8, 0.4% European and Asian Markets Up 0.721% Nymex Crude Oil Currently $72.95 Up $2.26   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-16-09, 10:10 PT 30 Year Fixed to $417,000Rate 4.625% Po... 12/16/2009

Rate Lock Advice and Mortgage Market Update December 15, 2009, 1:40 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -8/32 after PPI inflation came in much higher than expected. RATE 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 UP 0.01% at 4.96% on Dec.15 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.679% Up 0.068%. 10 Year Treasury Currently 3.590% Up 0.03% DJI Stocks closed Tuesday at $10,452.00,  Down -49.05, -0.47% European and Asian Markets Down -0.078% Nymex Crude Oil Currently $70.69 Up $1.18   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-15-09, 9:00 PT 30 Year Fixed to $417,000Rate 4.625% Point 1.37... 12/15/2009

Rate Lock Advice and Mortgage Market Update December 15, 2009, 9:00 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -9/32 after PPI inflation came in much higher than expected. RATE 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 Unchanged at 4.95% on Dec.14 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.679% Up 0.068%. 10 Year Treasury Currently 3.610% Up 0.05% DJI Stocks $10,482.01,  Down -19.04, -0.18% European and Asian Markets Down -0.087% Nymex Crude Oil Currently $70.54 Up $1.03     Brokers, If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-15-09, 9:00 PT30 Year Fixed to $417,000Rate 4.625%, Point 1.375, APR... 12/15/2009

Rate Lock Advice and Mortgage Market Update December 14, 2009, 8:00 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are down 2/32No economic data will be released today. RATE 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 UP 0.04% at 4.95% on Dec.11 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.611% Down 0.001%. 10 Year Treasury Currently 3.540% Down -0.01% DJI Stocks $10,490.77,  Up 19.27, 0.18% European and Asian Markets Up 0.53% Nymex Crude Oil Currently $69.89 Up $0.02   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-14-09, 8:00PT 30 Year Fixed to $417,000Rate 4.625% Point 1.000, APR 4.772%APR Based on $350,000 Lo... 12/14/2009

Rate Lock Advice and Mortgage Market Update December 11, 2009, 11:50 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are down -6/32. Prices are 9/32 above today's lows which may cause favorable repricing from some lenders.This morning, December Retail Sales rose 1.3%, well above the consensus forecast of 0.6%, and Retail Sales ex-autos showed similar strength.  November Import Prices ex-oil rose 0.4%. RATE 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 UP 0.02% at 4.93% on Dec.11 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.612% Up 0.035%. 10 Year Treasury Currently 3.530% Up 0.04% DJI Stocks $10,474.83,  Up 69, 0.66% European and Asian Markets Up 0.588% Nymex Cr... 12/11/2009

Rate Lock Advice and Mortgage Market Update December 10, 2009, 11:10 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -2/32. Jobless Claims came in a little higher than expected. RATE 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 Unchanged at 4.91% on Dec.10 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.577% Up 0.031%. 10 Year Treasury Currently 3.460% Up 0.01% DJI Stocks $10,409.91,  Up 72.86, 0.7% European and Asian Markets Up 0.475% Nymex Crude Oil Currently $70.19 Down $0.48   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-10-09, 8:00 PT 30 Year Fixed to $417,000Rate 4.625% Point 1.125, APR 4.783%APR Based... 12/10/2009

FHA 90 Day Flip Rule Extended This may be old news to some but I still receive calls requesting FHA 90 day flip rule information. The FHA 90 Day Flip Rule originally prohibited anyone from using FHA financing on homes owned for less than 90 days.  In 2008 FHA lifted the ban for banks only for one year then in 2009 extended the exception for one more year. Some lenders are have extended the 90 Day Flip rule to include VA and Conventional loans so it is a good idea to check each lender's policy before placing any loan on property owned for less than 90 days Below is the notice extending the FHA 90 Day flip rule to May 10, 2010.  The extension only applies to banks, the rest of us will have to wait 90 days before we can sell a newly purchased home with FHA financing. This revised notice on... 12/10/2009

Rate Lock Advice and Mortgage Market Update December 9, 2009, 11:40 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CautionMBS prices are down -3/32. Weaker than average demand for the 10-Yr bond auction hurt MBS markets. RATE 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 UP 0.01% at 4.91% on Dec.9 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.546% Up 0.053%. 10 Year Treasury Currently 3.420% Up 0.02% DJI Stocks $10,302.59,  Up 16.62, 0.16% European and Asian Markets Down -0.989% Nymex Crude Oil Currently $70.71 Down $1.91   Brokers, If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-09-09, 8:00 PT30 Year Fixed to $417,000Rat... 12/09/2009

Rate Lock Advice and Mortgage Market Update December 8, 2009, 12:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CautionMBS prices are up +2/32 which is 7/32 down from today's high of 9/32 causing some lenders to reprice for the worse.  Demand was stronger than average for the 3-Yr auction RATE 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 0.02% at 4.9% on Dec.8 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.493% Down 0.085%. 10 Year Treasury Currently 3.390% Down -0.05% DJI Stocks $10,390.11,  Up 1.21, 0.01% European and Asian Markets Down -1.27% Nymex Crude Oil Currently $72.70 Down $1.23   If you value your business then please watch this three minute videoS... 12/08/2009

Rate Lock Advice and Mortgage Market Update December 7, 2009, 3:30 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices closed up +15/32 , above 9:45 ET pricing of +6/32, and at the high for the day.  Fed Chief Bernanke continues to indicate that the Fed will keep the fed funds rate low for an extended period of time to help the economic recovery. RATE 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 UP 0.01% at 4.92% on Dec.7 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.578% Up 0.034%. 10 Year Treasury Currently 3.430% Down -0.05% DJI Stocks closed Monday at $10,390.11,  Up 1.21, 0.01% European and Asian Markets Down -0.243% Nymex Crude Oil Currently $73.90 Down $1.57 ... 12/07/2009

Rate Lock Advice and Mortgage Market Update December 7, 2009, 10:45 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are up +6/32. There will be a 3-yr auction at 1:00 ET. RATE 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 UP 0.01% at 4.92% on Dec.7 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.578% Up 0.034%. 10 Year Treasury Currently 3.440% Down -0.04% DJI Stocks $10,437.19,  Up 48.29, 0.46% European and Asian Markets Down -0.243% Nymex Crude Oil Currently $75.08 Down $0.39 Brokers, If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-07-09, 2:40 PT30 Year Fixed to $417,000Rate 4.500% Point1.375, APR 4.678%APR Based on $... 12/07/2009

Unfortunately, there are many ways to fleece a trusting buyer. Who can you trust? Obliviously not the sleazy looking guy pictured but there are others who appear trustworthy who could be picking your pockets. Most of us, when shopping, search for someone we can trust for good advice and a fair deal. Consequently, there are those who fulfill that need with a trustworthy appearance.   Often advertisements show them with Trust Symbols: holding a cute child or pet, surrounded by family.  Some appear trustworthy by company association, like starting a credit union or even better a military credit union. On Friday, 11/27, I noticed a military federal credit union (FCU) advertising a Zero Point loan for 4.875% with an APR of 4.963% and the FCU would even pay lender fees.  Hmmmm... on Friday, a... 12/05/2009

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