AM Market Brief - Thursday
July 2 , 2009, 6:30 AM PST
National Average Fixed Rate Mortgage
Down 3 basis point at 5.35% on 07-01-09
*A Basis Point (bps) is 1/100 of 1.00%
Fannie Mae Mortgage Backed Securities
Down 4.2 basis points to 4.968%
Lock Advice: Float with caution
Current rate down trend may reverse in a day or two. Today the MM rate indicator is Down 2.8 basis points and 10 year bonds are Down 5 bps from close of business Tuesday.
DJI Stocks Opened 8,430.45 -73.61 -0.87%
European and Asian Markets Down 1.52%
10 Year Treasury currently 3.50%
Nymex Crude Oil $67.68 barrel, Down $1.63
Are the best rates supplied by Direct Lenders? Rate Survey
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
