Mortgage Rates & North Korea

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.

**Rate Assumptions

 

Actual payments will vary based on your individual situation and current rates. The above rates are subject to change.

  • Some products may not be available in all states.
  • Jumbo Rates (loans over $424,100) not be available to first time home buyers.
  • Lending services may not be available in all areas.
  • Some restrictions may apply.
  • Based on the purchase/refinance of a primary residence with no cash out at closing.
  • We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 780; and an escrow account for the payment of taxes and insurance.
  • The lock period for your rate is 30 days.
  • The loan to value (LTV) ratio is 70%. If LTV > 80%, PMI will be added to your monthly mortgage payment for all conventional loans.
  • Rates assume a credit score of at least 780.
  • Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. National Bank of Commerce offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (205) 266-5669 to talk to John Marbury.
  • 30-Year Fixed-Rate Mortgage: The monthly payment on a $200,000 30-year Fixed-Rate Loan at 3.875% and 70% loan-to-value (LTV) is $940.47 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.961%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
  • 15-Year Fixed-Rate Mortgage: The monthly payment on a $200,000 15-year Fixed-Rate Loan at 3.250% and 70% loan-to-value (LTV) is $1405.34 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.397%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply

 

 

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.  

Contact

John Marbury
jmarbury@nationalbankofcommerce.com
Mortgage Lender NMLS# 514390
NMLS# 740833
Phone:205-266-5669
Fax: 866-217-4174

813 Shades Creek Parkway
Birmingham, Alabama 35209
 

Mission Statement

To be the simplest and most informative mortgage website on the market today. To make the mortgage process as easy as possible, by informing and educating the consumer on what to expect and how much it is going to cost.

Sign Up Now!