Your FHA Guru

Rate Lock Advice & Mortgage Market Update

DAILY RATE LOCK ADVICE
March 18, 2010, 6:45 PT
Website is Updated Several Times Daily

Short Term Lock Advice for loans that must lock today:  FLOAT. 
MBS prices are unchanged from Wednesday's close 
CPI and Jobless claims came in very close to expectations.
Interest rates run opposite MPS prices

Long Term Lock or Float Advice:  LOCK.
MBS prices could go either way and the conservative approach is to lock.

National Average Fixed Rate Mortgage 
Unchanged at 5% on Mar.17

MBS Yields Opened at 4.645% Down 0.026%.

10 Year Treasury Currently 3.650% Down -0.01%

DJI Stocks $10,744.48,  Up 10.81, 0.1%

European and Asian Markets Down -0.107%

Nymex Crude Oil Currently $82.33 Down $0.60

• 11-year-old boy buys property worth $44 mn in Dubai  The Economic Times
• USDA Rural Housing Funds to Run Dry by April. Lenders Already Dropping the Program Mortgage News Daily
• Maybe there is help for Jumbo Loans.  Broker Universe
• CA Buyer and Broker convicted of loan Fraud Broker Universe
• Home Prices Continue Climb from 2009  Housing Wire
• Home Affordable Refinance Program (HARP) has been extended to June 30, 2011.  Notice 
• Mortgage Brokers are the cheapest conduit to bring loans to market according to FHA Commissioner, David Stevens TBWS
• Homeowner Estimates as Good as Zillow? Appraisal Academics Think So  Housing Wire
• Homebuilders Expect FHA Changes to Hurt Sales HOUSINGWIRE
• Where's housing headed?  Follow rents. CNNMoney.com
• Housing construction up 2.8 percent in January.   StLtoday.com
• OneWest Bank's sweetheart deal with our Bank Owned Government (BOG)  Must See Video
• Fannie Mae is providing 3.50% Buyer Assistance on HomePath Loans Story

California Mortgage Rates 03-17-10, 8:45 PT
30 Year Fixed to $417,000
Rate 4.750%  Point 0.500, APR 4.854%

APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked  for 30 days.
Click for Quotes on FHA and VA loans With Detailed Cost Estimates.
 No Application or Credit Report required

Compare Rates from Major Lenders Survey

Free GFE 2010 Webinar Class

Understand the 2010 GFE

Material Not Covered in Most Classes 

• Loan Officers: Not understanding this form can cost you your commission.
• Realtors: Not understanding this form can cost you business

This class will Bring sense the the most misconceived, misunderstood disclosure ever.

Tuesday, January 19, 10AM to 11AM PT

Rate Lock Advice & Mortgage Market Update

January 08, 2010, 6:30 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT
MBS prices are up +10/32. They shot to up 12/32 after the Non Farm Employment report showed a loss of -85K jobs, compared to the expected -5k.  Unemployment remains at 10.0%

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 5.2% on Jan.7

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.949% Up 0.096%.

10 Year Treasury Currently 3.790% Down -0.06%

DJI Stocks $10,572.32,  Down -34.54, -0.33%

European and Asian Markets Up 0.068%

Nymex Crude Oil Currently $81.91 Down $0.75

• Vote on To Big To Fail. Move your money to local banks and credit unions
• Bad News! Bill Introduced in House to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
• Don't Miss The Real Deal - Real Estate closings in 2010 Real Deal
• Brokers, If you value your business then watch this three minute video TBWS Video

California Rates 01-07-10, 10:00 PT
30 Year Fixed to $417,000
Rate 4.875%, Point 1.000, APR 5.023%

APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

Rate Lock Advice & Mortgage Market Update

January 06, 2010, 6.30 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT
MBS prices are up +1/32. ISM Services will be released at 1:00 ET

RATE NOTES:
When MBS prices are up, Rates are down.
Lock advice changes throughout the day.  Update
Good economic news = Bad Rate News.

National Average Fixed Rate Mortgage
Unchanged at 5.2% on Jan.5

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.81% Down 0.037%.

10 Year Treasury Currently 3.770% Down 0%

DJI Stocks $10,565.14,  Down -6.88, -0.07%

European and Asian Markets Up 0.045%

Nymex Crude Oil Currently $81.71 Down $0.06

Nymex Crude Oil Currently $81.56 Up $2.20

• Vote on To Big To Fail. Move your money to local banks and credit unions
• Bad News! Bill Introduced in House to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
• Don't Miss The Real Deal - Real Estate closings in 2010 Real Deal
• Brokers, If you value your business then watch this three minute video TBWS Video

Rates 01-05-10, 8:40 PT
30 Year Fixed to $417,000
Rate 4.750%, Point 1.375, APR 5.004%

APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

Rate Lock Advice & Mortgage Market Update

January 04, 2010, 6:30 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT
Most indicators indicate higher rates in 2010
This moringing MBS prices are up +3/32. The ISM Manufacturing index and Construction Spending 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 0.01% at 5.19% on Jan.1

10 Year Treasury Currently 3.830% Down -0.02%

DJI Stocks $10,489.56,  Up 61.51, 0.59%

European and Asian Markets Up 0.806%

Nymex Crude Oil Currently $81.25 Up $1.89

• Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.
• Don't Miss The Real Deal - Real Estate closings in 2010 Real Deal
• Brokers, If you value your business then watch this three minute video TBWS Video

Rates 12-31-09, 12:45PT
30 Year Fixed to $417,000
Rate 4.875% Point 1.25, APR 5.025%

APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

Rate Lock Advice and Mortgage Market Update

Brokers, If you value your business then please watch this three minute video
See TBWS Video

Rates 12-21-09, 9:00 PT
30 Year Fixed to $417,000
Rate 4.75%, Point 1.125, APR 4.910%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.

Rate Lock Advice and Mortgage Market Update

If you value your business then please watch this three minute video
See TBWS Video

Rate Lock Advice and Mortgage Market Update

December 14, 2009, 7:00 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT
MBS prices are unchanged from Friday.
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
UP 0.04% at 4.95% on Dec.11

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.611% Down 0.001%.

10 Year Treasury Currently 3.540% Down -0.01%

DJI Stocks $10,492.59,  Up 21.09, 0.2%

European and Asian Markets Up 0.646%

Nymex Crude Oil Currently $69.51 Down $0.36

If you value your business then please watch this three minute video
See TBWS Video

Rate Lock Advice and Mortgage Market Update

December 11, 2009, 7:15 PT

RATE LOCK ADVISORY

Lock Advice:  LOCK
MBS prices are down -5/32.
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
Unchanged at 4.91% on Dec.10

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.612% Up 0.035%.

10 Year Treasury Currently 3.570% Up 0.08%

DJI Stocks $10,447.62,  Up 41.79, 0.4%

European and Asian Markets Up 0.612%

Nymex Crude Oil Currently $70.40 Down $0.14

If you value your business then please watch this three minute video
See TBWS Video

Rate Lock Advice and Mortgage Market Update

December 4, 2009, 6:30 PT

RATE LOCK ADVISORY

Lock Advice:  LOCK
MBS prices are down -21/32.  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 Securities
MBS Opened at 4.544% Up 0.06%.

10 Year Treasury Currently 3.470% Up 0.08%

DJI Stocks $10,469.69,  Up 103.54, 1%

European and Asian Markets Up 0.603%

Nymex Crude Oil Currently $77.16 Up $0.70

Rate Lock Advice and Mortgage Market Update

December 3, 2009, 8:15 PT

RATE LOCK ADVISORY

Lock Advice:  LOCK
MBS 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 Securities
MBS 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 time for them, but not for us. See TBWS Video

Rates 12-03-09, 8:00 PT
30 Year Fixed to $417,000
Rate 4.625% Point 0.875, APR 4.761%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

Education is the ONLY Effective Consumer Protection

• How to Find Legitimate Rate Quotes
• What is APR
• What is Yield Spred Premium (YSP)
• Avoid Closing Day Nightmares

Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.

Rate Lock Advice and Mortgage Market Update

November 30, 2009, 6:30 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT With CAUTION
The 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 -4/32.
Chicago PMI will be released at 9:45 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
Unchanged at 4.87% on Nov.27

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.339% Down 0.018%.

10 Year Treasury Currently 3.240% Up 0.03%

DJI Stocks $10,301.91,  Down -8.01, -0.08%

European and Asian Markets Up 0.115%

Nymex Crude Oil Currently $75.40 Down $0.65

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 for us. See TBWS Video

Rates 11-27-09, 8:00 AM PT
30 Year Fixed to $417,000
Rate 4.375% Point 1.250, APR 4.543%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

• How to Find Legitimate Rate Quotes
• What is APR
• What is Yield Spred Premium (YSP)
• Avoid Closing Day Nightmares

President signs the First Time Buyer Tax Credit Extension Read Story

Rate Lock Advice and Mortgage Market Update

November 27, 2009, 6:45 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT With CAUTION
The 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.
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 Securities
MBS Opened at 4.356% Down 0.033%.

10 Year Treasury Currently 3.210% Down -0.07%

DJI Stocks $10,267.15,  Down -197.25, -1.88%

European and Asian Markets Down -0.738%

Nymex Crude Oil Currently $73.66 Down $4.30

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 for us. See TBWS Video

Rates 11-25-09, 8:00 AM PT
30 Year Fixed to $417,000
Rate 4.375% Point 1.250, APR 4.543%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

• How to Find Legitimate Rate Quotes
• What is APR
• What is Yield Spred Premium (YSP)
• Avoid Closing Day Nightmares

President signs the First Time Buyer Tax Credit Extension Read Story

Rate Lock Advice and Mortgage Market Update

November 25, 2009, 6:45 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT With CAUTION
The 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 3/32. Jobless Claims were lower than expected, while Durable Orders 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
Down 0.02% at 4.95% on Nov.24

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.39% Down 0.058%.

10 Year Treasury Currently 3.320% Down 0%

DJI Stocks $10,439.16,  Up 5.45, 0.05%

European and Asian Markets Up 0.383%

Nymex Crude Oil Currently $76.00 Down $0.02

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 for us. See TBWS Video

Rates 11-25-09, 8:00 AM PT
30 Year Fixed to $417,000
Rate 4.500% Point 1.000, APR 4.642%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

• How to Find Legitimate Rate Quotes
• What is APR
• What is Yield Spred Premium (YSP)
• Avoid Closing Day Nightmares

President signs the First Time Buyer Tax Credit Extension Read Story

Rate Lock Advice and Mortgage Market Update

November 24, 2009, 7:00 PT

RATE LOCK ADVISORY

Lock Advice:  FLOAT With CAUTION
The 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 +3/32.
As expected, third quarter GDP was revised lower to 2.8%.

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 4.97% on Nov.23

Fannie Mae Mortgage Backed Securities
MBS Opened at 4.447% Down 0.074%.

10 Year Treasury Currently 3.350% Down -0.02%

DJI Stocks $10,384.82,  Down -66.13, -0.63%

European and Asian Markets Down -0.462%

Nymex Crude Oil Currently $77.30 Down $0.26

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 for us. See TBWS Video

Rates 11-23-09, 8:00 AM PT
30 Year Fixed to $417,000
Rate 4.500% Point 1.250, APR 4.665%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required

• How to Find Legitimate Rate Quotes
• What is APR
• What is Yield Spred Premium (YSP)
• Avoid Closing Day Nightmares

President signs the First Time Buyer Tax Credit Extension Read Story