Mortgage Rate Lock Recommendation: February 21, 2014

By: Freddie Marmolejo. Your  FHA | V.A. | JUMBO |Reverse Mortgage Lender!  Let’s Talk (972) 535-5935  nmls# 328534

Mortgage Bonds are being pressured lower today as Stock prices continue to rise. 

In the housing sector, Fannie Mae reported record earnings in 2013 and has paid back all of the bailout money owed to the Treasury. The Mortgage Bankers Association reported yesterday that foreclosure rates declined to the lowest level in six years. Lock rate

In economic news, Existing Home Sales declined by 5.1% from December to January due to the disruptive and prolonged winter weather patterns, tight credit, limited inventory, higher prices and higher mortgage rates.

Due to the drop below a key technical level, I am recommending to lock, which seems prudent at this time. Have a great weekend!

Mortgage Market Guide

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s