Your FHA Guru

Rate Lock Advice & Mortgage Market Update

DAILY RATE LOCK ADVICE
March 9, 2010, 6:30 PT
Website is Updated Several Times Daily

Lock Advice for loans requiring immediate action:  FLOAT.  . 
MBS prices are up +7/32. There will be a 3-Year Treasury auction at 1:00 ET

Long Term Lock or Float Advice:  LOCK.
MBS prices are oversold and while rates have increased in the past few days they could turn around at any time so the safe position is to lock.

National Average Fixed Rate Mortgage
Unchanged at 5% on Mar.8

MBS Yields Opened at 4.681% Down 0.011%.

10 Year Treasury Currently 3.720% Up 0.03%

DJI Stocks $10,539.07,  Down -13.45, -0.13%

European and Asian Markets Down -0.443%

Nymex Crude Oil Currently $80.76 Down $1.11 

• Frustrated Owner Bulldozes Home Ahead Of Foreclosure Story and Video

• 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 03-08-10, 8:00PT
30 Year Fixed to $417,000
Rate 4.75%  Point 1.176, APR 4.916%
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.
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