Rate Lock Advice and Mortgage Market Update December 4, 2009, 11:45 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -17/32.  After the Employment data came in stronger than expected. The economy lost just -11K jobs in November, and the Unemployment Rate fell to 10.0% from 10.2%. 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 4.87% on Dec.3 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.544% Up 0.06%. 10 Year Treasury Currently 3.470% Up 0.08% DJI Stocks $10,361.92,  Down -4.23, -0.04% European and Asian Markets Up 0.654% Nymex Crude Oil Currently $75.40 Down $1.06   If you value your business then please watch this three minute videoSee TB... 12/04/2009

I have many clients looking for homes who ask about short sales. Short sales are properties that are sold for less than what is owed.  A property owner's short sale agent asks the bank to accept a lower offer and allow their home seller to walk away. Can you buy a property for less than it is worth if it is a short sale?   It depends if you hire a "short sale specialist" to handle negotiations for you.  Real estate agents have "specialties".  *  Relocation                 * Luxury home *  Short sale                 * Residential (most common) *  Commercial               * REO (Bank owned foreclosures) * Estate/Trustee            * Agricultural/Farm   Short Sale Nuances * Short sales require negotiations and paperwork that are not normally involved in regular residential purchase transac... 12/04/2009

Rate Lock Advice and Mortgage Market Update December 3, 2009, 8:15 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -8/32.   Jobless Claims came in lower than expected. ISM Services will be released at 10:00 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 0.03% at 4.87% on Dec.2 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.484% Up 0.031%. 10 Year Treasury Currently 3.370% Up 0.05% DJI Stocks $10,452.38,  Down -0.3, 0% European and Asian Markets Up 0.657% Nymex Crude Oil Currently $76.14 Down $0.46 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 ti... 12/03/2009

Rate Lock Advice and Mortgage Market Update December 1, 2009, 8:20 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -7/32Rate change for worse may be a risk from early investors..  It has been a volatile morning. 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 0.01% at 4.86% on Nov.30 10 Year Treasury Currently 3.230% Up 0.02% DJI Stocks $10,477.70,  Up 132.86, 1.28% European and Asian Markets Up 1.769% Nymex Crude Oil Currently $78.63 Up $1.35   Free NAMB Webinar: FHA/HUD - What Originators Need to Know about RESPA, FHA Broker Approval and Appraisal Reform December 1, 2009 2:00 PM - 3:00 PM EST Click to Register Take 5 minutes to watch this humorous and ... 12/01/2009

Rate Lock Advice and Mortgage Market Update November 30, 2009, 1:30 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe 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 53.0 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 0.01% at 4.86% on Nov.30 Fannie Mae Mortgage Backed SecuritiesMBS 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 ... 11/30/2009

Rate Lock Advice and Mortgage Market Update November 30, 2009, 8:15 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe 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 down -1/32. This morning, the November Chicago PMI national manufacturing index rose to 56.1, above the consensus forecast of 53.0 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 4.87% on Nov.27 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.339% Down 0.018%. 10 Year Treasury Currently 3.220% Up 0.01% DJI Stocks $10,294.05,  Down -15.87, -0.15% European and Asian Marke... 11/30/2009

Rate Lock Advice and Mortgage Market Update November 27, 2009, 5:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe 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 closed up +7/32. No economic data was released Friday. 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 4.87% on Nov.27 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.356% Down 0.033%. 10 Year Treasury Currently 3.210% Down 0% DJI Stocks closed Friday $10,309.92,  Down -154.48, -1.48% European and Asian Markets Down -0.082% Nymex Crude Oil Currently $76.05 Down $1.91 Take 5... 11/27/2009

Rate Lock Advice and Mortgage Market Update November 27, 2009, 10:35 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe 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 +7/32. 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 4.87% on Nov.26 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.356% Down 0.033%. 10 Year Treasury Currently 3.20% Down -0.08% DJI Stocks $10,309.92,  Down -154.48, -1.48% European and Asian Markets Down -0.082% Nymex Crude Oil Currently $76.01 Down $1.95 Take 5 minutes t... 11/27/2009

Rate Lock Advice and Mortgage Market Update November 25, 2009, 2:55 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe 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 closed up 1/32.  It was a volatile session the day before Thanksgiving 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 0.08% at 4.87% on Nov.25 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.39% Down 0.058%. 10 Year Treasury Currently 3.270% Down -0.05% DJI Stocks closed the day at $10,464.40,  Up 30.69, 0.29% European and Asian Markets Up 0.595% Nymex Crude Oil Currently $77.80 U... 11/25/2009

Rate Lock Advice and Mortgage Market Update November 25, 2009, 9:30 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe 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.Midmorning Rate increases are a risk from some investors. MBS prices are down -2/32 below 9:45 ET pricing of +3/32. It has been a volatile session, and investors may have priced at different levels. 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 0.07% at 4.88% on Nov.25 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.39% Down 0.058%. 10 Year Treasury Currently 3.340% Up 0.02% DJI Stocks $10,... 11/25/2009

Short Sales in East Escondido are closing, and buyers are getting fantastic deals! Check this out: Bedrooms: 2 Baths: 2 Square Footage: 1104 Cross Street: Bear Valley Parkway Sold Price: $140,000 This charming single level home has skylights, vaulted ceilings, a tiled entry, a large living room with fireplace, separate dining area and a wonderful kitchen. There are great deals on short sales in East Escondido. If you are a buyer who is interested in participating in a short sale, know that you need to have patience. Just like this wonderful property, there are many more. If we can help you to buy or sell your property in Escondido, San Marcos or beyond, please do not hesitate to give us a call! 11/24/2009

Rate Lock Advice and Mortgage Market Update November 24, 2009, 11:10 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe 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 +6/32 and it is possible to see some rate improvement this morning.Consumer Confidence came in 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 Down 0.01% at 4.96% on Nov.24 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.447% Down 0.074%. 10 Year Treasury Currently 3.330% Down -0.04% DJI Stocks $10,419.88,  Down -31.07, -0.3% European and Asian Markets Down... 11/24/2009

Rate Lock Advice and Mortgage Market Update November 23, 2009, 9:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe 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 4/32.  Some rate improvements may be possible.Existing Home Sales were stronger 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 Down 0.01% at 4.98% on Nov.20 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.521% Up 0.009%. 10 Year Treasury Currently 3.380% Up 0.02% DJI Stocks $10,452.91,  Up 134.75, 1.31% European and Asian Markets Up 1.773% Nymex Crude Oil Currentl... 11/23/2009

Elimination of FHA Condominium Spot Approval Delayed Again. Lender spot approval was scheduled to end after several delays on December 7, 2009, the elimination of condominium spot approval has been delayed until February 1, 2010. Implementation of FHA new condominium project approval process is delayed again to December 7, 2009.  It was originally to go into effect on October 1 then delayed until November 2, 2009.   So if December 7, (an auspicious date indeed) is the date then at that time individual lenders will begin to approve each condominium project.  FHA Mortgagee Letters 2009-46 A and 2009-46 B describe the new approval process in detail. Below are the questions needed for a FHA condo spot approval up to February 1, 2010 FHA Condo Spot Approval Check List _______ 1.  The legal d... 11/23/2009

Rate Lock Advice and Mortgage Market Update November 21, 2009, 9:00 PT Next week should be an intersting week in Mortgage Land.  A wide range of economic data will be released during the shortened week ahead. Existing Home Sales will come out on Monday. GDP, Consumer Confidence, and the FOMC Minutes from the November 4th Fed meeting will be released on Tuesday. Durable Orders, Personal Income, Core PCE inflation, New Home Sales, and Consumer Sentiment will all be packed in on Wednesday. In addition, there will be Treasury auctions on Monday, Tuesday, and Wednesday. Mortgage markets will be closed on Thursday for Thanksgiving. RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe Float with Caution recommendation is only because rates have been down for a while and they almost always ad... 11/21/2009

Rate Lock Advice and Mortgage Market Update November 20, 2009, 10:15 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe Float with Caution recommendation is only 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 +3/32.  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 Down 0.01% at 4.98% on Nov.20 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.513% Down 0.004%. 10 Year Treasury Currently 3.360% Up 0.01% DJI Stocks $10,289.52,  Down -42.92, -0.42% European and Asian Markets Down -0.758% Nymex Crude Oil Currently $76.70 Down $0.76 Take 5 minut... 11/20/2009

Rate Lock Advice and Mortgage Market Update November 19, 2009, 3:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS prices are up +1/32. Jobless Claims were close to expectations. 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 4.99% on Nov.19 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.517% Up 0.005%. 10 Year Treasury Currently 3.340% Down -0.02% DJI Stocks $10,332.44,  Down -93.87, -0.9% European and Asian Markets Down -1.392% Nymex Crude Oil Currently $77.46 Down $2.12 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 ... 11/19/2009

Rate Lock Advice and Mortgage Market Update November 19, 2009, 11:05 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS prices are up +1/32. Jobless Claims were close to expectations. 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 4.99% on Nov.19 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.517% Up 0.005%. 10 Year Treasury Currently 3.350% Down -0.01% DJI Stocks $10,284.91,  Down -141.4, -1.36% European and Asian Markets Down -1.392% Nymex Crude Oil Currently $77.35 Down $2.23 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 n... 11/19/2009

Rate Lock Advice and Mortgage Market Update November 18, 2009, 2:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS prices are -2/32 slightly above 9:45 ET pricing of -3/32. MBS prices reached a low of -5/32.CPI came in a little higher than expected, while Housing Starts fell short of the consensus. 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 4.99% on Nov.18 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.512% Up 0.042%. 10 Year Treasury Currently 3.370% Up 0.04% DJI Stocks closed $10,426.31,  Down -11.11, -0.11% European and Asian Markets Down -0.051% Nymex Crude Oil Currently $79.65 Up $0.51 Take 5 minutes to watch this humorous and educ... 11/18/2009

Rate Lock Advice and Mortgage Market Update November 18, 2009, 11:50 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS prices are -1/32 slightly above 9:45 ET pricing of -3/32. MBS prices reached a low of -5/32.CPI came in a little higher than expected, while Housing Starts fell short of the consensus. 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 4.99% on Nov.18 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.512% Up 0.042%. 10 Year Treasury Currently 3.370% Up 0.04% DJI Stocks $10,397.59,  Down -39.83, -0.38% European and Asian Markets Down -0.051% Nymex Crude Oil Currently $79.59 Up $0.45 Take 5 minutes to watch this humorous and educational v... 11/18/2009