PM Rate Lock and Mortgage Market Advisory
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Advisory August 28 , 2009, 7:00 AM PT Rate Lock Advice: FLOATMBS prices reversed direction and came back -7/32 to -2/32. Jobless Claims and GDP 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 5.19% on Aug.27 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.837% Up 0.005%. 10 Year Treasury currently 3.450% Up 0.01% DJI stocks closed at 9,580.63, Up 37.11, 0.39% European and Asian Markets Down -0.641% Nymex Crude Oil currently $72.17 Up $1.32 Today MBS prices closed down -6/32 below their 9:45AM ET initial lender pricing level of -5/32. Earlier, MBS reached a high of -2/32. Today's ec...
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