Rate Lock Advice & Mortgage Market Update
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice & Mortgage Market Update January 13, 2010, 9:30 PT RATE LOCK ADVISORY Lock Advice: LOCKMBS prices are down -6/32. The Beige Book will be released at 2:00 ET which is seen as an indicator as to how the Fed might act in its upcoming meeting. . 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 0.04% at 5.19% on Jan.12 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.796% Down 0.021%. 10 Year Treasury Currently 3.740% Down -0.11% DJI Stocks $10,669.21, Up 41.95, 0.39% European and Asian Markets Down -0.265% Nymex Crude Oil Currently $79.96 Down $0.83 Free Class: Understanding the 2010 Good Faith Estimate. Bringing sense the the most misconceived, mi...
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