My Daily Rate Lock Advisory & Market Commentary - Friday Sep. 21st - 60 DAY LOCK!

[TheMortgagePro]

Rate Lock Advisory & Commentary


.........7 Days.........20 Days...........................60 Days
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...LOCK......... .LOCK.....................LOCK..........................FLOAT



NOTE: This is a week to pay close attention to markets. Therefore the advisory is revised to reflect a THUMBS DOWN RATE LOCK RECOMMENDATION OUT 60 DAYS.

Friday's bond market has opened in positive territory despite stock market gains. The Dow and NASDAQ are showing solid improvements with gains of 80 points and 22 points respectively. The bond market is currently up 3/32, but we still will likely see a sizable increase in this morning's mortgage rates as a result of weakness in bonds late yesterday. I am expecting to see today's rates to be approximately .250 -.375 of a discount point higher than yesterday's morning rates were.

There is no relevant economic data scheduled for release today. It appears that traders are more or less tweaking their portfolios today after the recent volatility in the markets. Unless we see a significant move in bonds from their current levels, we likely will see mortgage rates remain at this morning's levels the rest of the day.

Next week brings us the release of a handful of economic releases, but there is only two that should be considered of high importance to the markets and mortgage rates. But, the week's data does give us a broad spectrum of information, ranging from consumer confidence readings to manufacturing activity to housing strength and consumer spending data. Even though several of the reports are not important individually, collectively as a group they could paint a detailed picture of economic strength or weakness and lead to changes in mortgage rates.

There is no relevant data scheduled for release Monday. The first report is one of the two important ones and it is due out Tuesday morning. Look for more details on it and the rest of the week's events in Sunday's weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

My articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Wanna Network of any specific security, strategy or investment. An investor's best course of action must be based on individual circumstances and counsel from his/her trusted advisers. Portions of this advisory are based on proprietary market information with permissions granted for their use. Should you see any similarities in "My Rate Lock Advisory & Market Commentary " and that which is "imitated by others", they will be subject to Copy Write laws based on ownership of the intellectual property rights of its author. If they have no permission for its use the owners of Wanna Network will enforce these regulations.

I have chosen the Exclamation Point and the Green Arrow as alternating indicators to make it easy on your eyes in determining one rate lock commentary over the prior day. Since we have imitators I am changing that now to something I think more useful and immediately recognizable in terms of my recommendation to lock or not. In place of these former icons I will use instead the Thumbs Up or Thumbs Down icons to indicate my recommendation.

While imitation is the sincerest form of flattery I don't consider it ethical or moral - much less professional conduct when one posts the same information just because they may have permission. It appears as ego out of control or the "Me Too" syndrome. Market intelligence, certification as a "Stock Market Technician" and over 28 years of stock market trading and technical analysis provides the impetus for my unique incites and commentary.

Additionally, please visit my site. I have some very unique calculators that produce reports which you can email to whom ever as well as gain a wealth of knowledge from my Blog’s, utilize my Daily Rate Lock Advisory, not to mention articles such as “Arm’s Explained” and the link “Index Analyzer Pro!,” both in the left hand margin of my site.

You will also have an opportunity to participate in my Monthly Sweepstakes where I give away $1,000.00 every month! There is no obligation to buy anything! Just log on, click on the link in the left margin at "WIN $1,000" and leave a little information. GOOD LUCK!

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©Mortgage Commentary 2007

Warmest Regards,

L. D. Walls, The Mortgage Pro!
Mortgage Broker, Planner & Trusted Advisor, C.L.O., CalPERS

23272 Mill Creek Dr., Suite #100
Laguna Hills, CA 92653
213.700.1968

EMAIL: stocktec1@go2themortgagepro.com