Mortgage Pricing Report - 6/16/2009

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A Guide for Mortgage Professionals.
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If a family member asked my advice and they were scheduled to close on a mortgage purchase or refinance in the time periods indicated below, I would recommend...

1-7 Days	8-20 Days	21-45 Days	46 Days Plus
Locking	Floating	Floating	Floating

Check MBS pricing here. 

Market Update as of 1:17 pm (EST) - Prices improving and into green this afternoon.

30 Year FNMA MBS Coupons

FNMA 4.5            99-02                     +0-05 

FNMA 5.0            101-10                   +0-05 

FNMA 5.5            102-27                   +0-07 

30 Year GNMA MBS Coupons

GNMA 4.5           99-07                     +0-06 

GNMA 5.0           101-16                   +0-05 

GNMA 5.5           103-02                   +0-06 

 

The Bottom Line - I know some analyst are predicting to lock for 21 days with slight movement into red this morning, however I feel prices will move into green this afternoon...just my gut feel.

For current MBS pricing, checkout the "MBS Price Data" chart in the far right column (underneath Subscription & Contact Links).

Other excellent sites providing insightful market commentary:

• Daily Market Commentary
• Robert Ashby - Mortgage Market Update
• MBS Commentary
• Daily Market Commentary- WesCorp
• Mortgage Rate Commentary - Moving.Com
• Weekly Economic Commentary - Dr. Raymond James

Important Note: These recommendations to lock or float constitute solely my opinion and are not represented nor should be taken as a guarantee of mortgage rate direction.

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