Wednesday 8AM 03/10/10 Today’s Current …
I’m David Beadle. Here’s what’s happening from RateAlertNow.com.
Thirty-year mortgage rates were “down” on Tuesday, after a “successful” auction of $40 billion in U.S. 3-Year Treasury notes.
But, there “are” another $34 billion in IOUs slated for sale today and tomorrow, which has many fixed-income traders behaving in “cautious” fashion.
The national-average 30-year fixed-rate mortgage is now at four-and-three-quarters percent with one and seven-eighths points, down a quarter of a point from Monday, for a savings of $250 on a $100,000 loan.
The five percent rate is at “half” of one point, also down a quarter of one point from a day earlier.
Remember: one point is value “one percent” of the loan amount. This means “one point” is one-thousand dollars on a one-hundred- thousand dollar loan…and two-thousand dollars on a two-hundred thousand dollar loan.
When it comes to a two-point loan, that represents two percent of the loan amount. This means “two points” is two-thousand dollars on a one-hundred thousand dollar loan…and four-thousand dollars on a two-hundred thousand dollar loan.
The national-average 15-year fixed-rate mortgage was “down as well,” with the four-and-a-quarter percent rate now at one point, down one-eighth of a point from Monday. The four-and-three-eighths percent rate is at “three-eighths” of one point.
In order for you to know “when” to lock your “floating” fixed-rate
mortgage, you have to have “an Early Warning” system with pressing news on changes in current rates & points +before+ they occur throughout every affair day. That’s where my “Rate Alert Now” service becomes essential to your “rate lock” strategy. I’ll tell you via regular e-mail and/or mobile “text messaging” when current rates are about to go up, and if you act promptly, you may be able to reach your local mortgage originator by phone to lock your rate +before+ the mortgage company becomes aware of what’s going on, and changes its rates. The cost of my service is less than one dollar a day.
Weekly retail sales “rose” a sharp 2.9 percent in the most recent survey period, after having “fallen” 0.8 percent in the previous week.
Today, we-will-see an update on weekly “crude oil” inventories, which are “expected” to have risen another 2 million barrels on top of the 4 million barrel “increase” of a week earlier.
That’s what’s happening. I’m David Beadle. For full details on my real-time mortgage rate alert service to help you “beat the system,” visit RateAlertNow.com and check back here later today, for my next *free* mortgage rate update.
Source: http://ratealertnow.blogspot.com/2010/03/wednesday-8am-031010-todays-current.html