Today’s Rate Lock Recommendation: October 23, 2013

Freddie Marmolejo NMLS# 328534. Let’s Talk. (512) 799-0133 American Nationwide Mortgage. Your Texas and California FHA | VA | JUMBO |Reverse Mortgage Depot! MortgageLendingStation.com

A host of mixed earnings reports and some profit taking are pressuring Stocks lower. Normally, Bonds would respond positively to weakness in equities – however, an inflation warning out of China is limiting the upside gain in Bonds so far this morning. Close On Time

There were no major economic reports released today. The Mortgage Bankers Association reported that its Market Composite Index, a measure of loan application volume, declined slightly in the latest week as did the refinance index, while the the purchase index increased. The refinance index could begin to rise as home loan rates have eased a bit in the past few weeks.

I am recommending a floating stance, but be aware that sentiment can quickly reverse. If anything changes, I will get back to you.

Brought to you by Mortgage Market Guide

 

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