Your FHA Guru

June 17 , 2009, 6:30 AM PST 

National Average Fixed Rate Mortgage 
Down 1 basis points at 5.51% on 06-16-09
*A Basis Point (bps) is 1/100 of 1.00%

Fannie Mae Mortgage Backed Securities (MBS) Down 11.7 basis points to 5.024%

Lock Advice:  Float with Caution
Today's AM rate indicator was down 10.2 basis points and 10 year bonds were  down 4 basis points up from close of business Monday.

DJI Stocks Opened 8,503.83  -108.30  -1.26%

European and Asian Markets Down 0.99%

10 Year Treasury currently 3.63%

Nymex Crude Oil $69.43 barrel, Down $1.04

Direct Lender Rate Survey You will be surprised, I was

Your Stealth Rate Shopper Strikes again full story 

Click for current Lending news and information

$8,000 Tax Credit Advance was approved (05-29-09) by FHA Click for FHA bulletin 

Fannie MBS Issuance Hits Highest Mark Since 2003
Benefiting from historically low interest rates and a refinancing boom, Fannie Mae issued $87.8 billion in mortgage-backed securities in March, nearly doubling the previous month's volume.

1st Quarter Residential Loan Originations Jump 36%
Thanks to interest rates that were at or near historical lows, residential mortgage lenders saw their loan production jump by 36% in the first quarter, according to preliminary survey figures compiled by National Mortgage News and the Quarterly Data Report.

How To Apply For $8,000 First Time Buyer Tax Credit
Up to a $8000 Tax Credit is available from IRS

10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier