August 9th, 2017
Suggestions that can change during the day:
2:15 PM ET Bonds losing momentum. Consider locking.
10:00 AM ET Mounting tensions between North Korea and the U.S. sends Bond prices higher, yields lower. Floating is recommended.Things can change quickly so stay tuned in.
Rates Effective August 9th, 2017 12:17 PM EST
No origination on all posted rates. Call for other rates. **Rate Assumptions below the news
Conforming loans $424,100 and under
30-Year Fixed Rate 3.875% (3.961%APR)
15-Year Fixed Rate 3.250% (3.397% APR)
After close Commentary: MBS started the day well into positive territory but the rally stalled after the weak 10-yr Note auction results. The Bond closed at 103.25, near unchanged and off the session high of 103.44. Friday's prices will look different because of the monthly Bond Coupon Rollover. This as no effect on yields.
After a Google Search of: What is a Bond Coupon Rollover?
This is what I found: The Bond Coupon Rollover is an event that happens every month at which time the current month's coupon is closed out and any new loans are placed with next month's coupon.
For more info go to the followng link: http://activerain.com/blogsview/1595309/what-is-a-bond-coupon-rollover-
Stocks fell on the geopolitical headlines. The Dow lost 36.64 points to 22,048.70, the S&P closed near unchanged at 2,474.02, while the NASDAQ was down by 18.12 points to end at 6,352.33. WTI oil closed at $49.56/barrel, +$0.39. 10-yr T Note yield 2.24%. Tomorrow's economic data includes PPI and Weekly Initial Jobless Claims. The Treasury will sell $15B 30-yr Bonds.
Late morning Commentary: Tensions are mounting tensions between the U.S. and North Korea. The headlines have pushed investors into the safe haven of the Bond markets and out of risky investments, such as Stocks. President Trump said yesterday that North Korea will be met with "fire and fury" if it threatens the U.S. Reports are surfacing that North Korea is reviewing plans to strike Guam with missiles, which is a U.S. territory with an airfield and naval station.
The Mortgage Bankers Association (MBA) reported on Wednesday that mortgage rates fell in the latest week, matching the YTD lows. The MBA reported that the 30-year fixed conforming mortgage rate fell 3bp to 4.14%, just above the YTD low of 4.13%. The 30-year jumbo rate fell by 4bp to 4.07%, while the FHA rate fell 5bp to 4.02%. Both are near YTD lows. Within the report it showed that the refinance index rose 5%, while the purchase index was up nearly 1%.
Home price gains in the luxury arena surged in the second quarter of 2017 after the shift to modestly lower prices sent sales rising, while sending inventories lower. Luxury home prices jumped 7.5% in the second quarter of 2017 compared to last year, to an average of $1.79 million, according to the latest luxury housing market report by Redfin. Redfin’s analysis tracks home sales in more than 1,000 cities across the country and defines the luxury market as the top 5 percent most expensive homes sold in the city in each quarter. The rise in prices are attributed towards the ongoing theme of a lack of supply of homes for sale on the market.
9:05 AM ET 3.5% Fannie Mae 30-yr coupon up 12 bp at a price of 103.34 up 19 bp when rates were set yesterday at 10:00 am et Open 103.31 High 103.41 Low 103.31
Dailey Moving averages we are currently above: 100 $102.78 200 $102.70 25 102.74 and below 50 102.97 Others numbers psychological numbers 103.00 , 103.19, 103.34
|Wed, Aug 09 8:33 AM The Treasury will sell $23B 10-yr Notes today and comes after solid demand for yesterday's 3-year offering ... results at 1:00 p.m. ET.|
|Wed, Aug 09 8:31 AM Q2 Productivity 0.9% vs 0.5% expected.|
|Wed, Aug 09 8:26 AM Legendary country rock singer Glen Campbell dies at 81.|
|Wed, Aug 09 8:21 AM The 30-yr jumbo rate fell by 4bp to 4.07%, FHA fell 5bp to 4.02%. Both near YTD lows.|
|Wed, Aug 09 8:20 AM The MBA reports that the 30-yr fixed conforming mortgage rate fell 3bp to 4.14%, just above the YTD low of 4.13%.|
|Wed, Aug 09 8:19 AM The MBAs refinance index rose 5.3%, purchase 0.8%.|
|Wed, Aug 09 8:16 AM The MBA reports that its Market Composite Index, a measure of total mortgage loan application volume, rose 3% in the latest week.|
|Wed, Aug 09 8:14 AM Q2 Productivity will be released at 8:30.|
|Wed, Aug 09 8:13 AM U.S. dollar index 93.52, unchanged.|
Actual payments will vary based on your individual situation and current rates. The above rates are subject to change.
Johnmarbury.com has attempted to verify the information contained on this post. However any aspect of such may change without notice. Johnmarbury.com does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. Forgive my spelling and grammatical mistakes due to writing skills that are lacking and the need to communicate quickly.