PM Rate Lock and Mortgage Market Advisory
By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update September 29 , 2009, 9:30 AM ET Important FHA News09-18-2009, Hud announced sweeping FHA changes, the most I have seen in my careerPress Release: HUD No. 09-177 RATE LOCK ADVISORY Lock Advice: FLOATMBS prices this morning are unchanged from closing prices yesterday. Consumer confidence is lower than expected but did not effect MBS Market. 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 5.09% on Sep.29 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.599% Down 0.059%. 10 Year Treasury currently 2.950% Down -0.36% DJI Stocks Closed the day at $9,742.20, Down -47.16, -0.48% European and Asian Markets Up 0.246% Nyme...
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