Today’s Mortgage Rate Lock Recommendation: October 31, 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

After dropping yesterday, Mortgage Bonds opened higher, but quickly gave up those gains after a much better than expected report from the Chicago PMI. 

Over in housing, CoreLogic reported that completed foreclosures dropped nearly 40% in September compared to a year ago. However, the completed foreclosures in August were much higher than the average number completed in the months between 2000 and 20006.

I am recommending to float your mortgage rate as I watch a key technical layer of support. If anything changes, I will get back to you.

Your Trusted Mortgage Advisor: Freddie Marmolejo   fmarmolejo@americannationwide.com  American Nationwide Mortgage Company NMLS# 13392

Brought to you by Mortgage Market Guide

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