August 21st, 2017
Rates Effective August 21st, 2017 12:30 PM EST
30-Year Fixed Rate 3.875% (3.961%APR)
15-Year Fixed Rate 3.125% (3.271% APR)
Conforming loans $424,100 and under
No origination on all posted rates. Call for other rates. **Rate Assumptions below the news
Suggestions that can change during the day: Mortgage Bond prices begin the week near unchanged while Stocks continue to push lower. Carefully floating is recommended.
After close Commentary: Not much action in the markets today, typical for a summer Monday. With the Jackson Hole Symposium later this week, traders weren't eager to take on any new positions. Fed Chair Yellen will speak at the Symposium on Friday morning at 10:00 a.m. ET. There were no economic reports released today. The benchmark 3.5% coupon closed at 103.31, near unchanged. The Dow gained 29.24 points to 21,703.75, the NASDAQ saw a minor loss of 3.40 points to 6,213.12, while the S&P 500 closed at 2,428.37, +2.82 points. WTI oil fell by $1.14 to settle at $47.37/barrel. 10-yr T Note yield unchanged at 2.18%. There are no major economic reports set for release tomorrow.
Late morning Commentary: Traders and investors are looking ahead to this week's big event in the Kansas City Fed-sponsored Jackson Hole, Wyoming Symposium beginning on Thursday and ending Saturday. The Symposium takes on important economic issues facing the U.S. and world economies. Symposium participants include prominent central bankers, finance ministers, academics, and financial market participants from around the world. The participants convene to discuss the economic issues, implications and policy options pertaining to the symposium topic. This year's topic: Fostering a Dynamic Global Economy.
U.S. Stock markets are lower to begin the week and the closely watched S&P 500 Index closed lower on Friday for the second straight week of declines. Stocks have been moving lower due in part to ongoing headlines out of Washington D.C. and the tensions between North Korea and the U.S. The S&P 500 is down a little over 2% since its all-time closing record high on August 8 of 2,474.92. In addition, with the S&P, Dow and NASDAQ near record highs, investors are taking the opportunity to secure some profits.
And this from NASA on today's "Total Solar Eclipse": Today, August 21, 2017, all of North America will be treated to an eclipse of the sun. Anyone within the path of totality can see one of nature’s most awe-inspiring sights - a total solar eclipse. This path, where the moon will completely cover the sun and the sun's tenuous atmosphere, the corona, can be seen, will stretch from Salem, Oregon to Charleston, South Carolina. Observers outside this path will still see a partial solar eclipse where the moon covers part of the sun's disk.
9:21 AM ET 3.5% Fannie Mae 30-yr coupon up 3 bp at a price of 103.31 down 3 bp when rates were set Yesterday at 10:00 am et Open 103.34 High 103.34 Low 103.31
Dailey Moving averages we are currently above: 200 $102.62 100 $102.89 25 103.08 and 50 102.97 Others numbers psychological numbers 103.00 , 103.19, 103.34
|Mon, Aug 21 8:40 AM Stocks cautious with one eye on the White House and the other on North Korea.|
|Mon, Aug 21 8:37 AM S&P futures point to a slightly positive open.|
|Mon, Aug 21 8:34 AM There are no Treasury Note or Bond auctions this week.|
|Mon, Aug 21 8:33 AM U.S. dollar index 93.26, -0.09.|
|Mon, Aug 21 8:33 AM WTI oil at $48.60/barrel, near unchanged.|
|Mon, Aug 21 8:31 AM 10-yr T Note yield 2.18% from Friday's close of 2.20%.|
|Mon, Aug 21 8:26 AM There are no economic reports due for release today and the rest of the week's calendar is on the light side with just New and Existing Home Sales in the spotlight.|
|Mon, Aug 21 8:24 AM The Symposium takes on important economic issues facing the U.S. and world economies. Symposium participants include prominent central bankers, finance ministers, academics, and financial market participants from around the world. The participants convene to discuss the economic issues, implications, and policy options pertaining to the symposium topic. This years topic ... Fostering a Dynamic Global Economy.|
|Mon, Aug 21 8:21 AM MBS open modestly higher higher in a week that features the Fed sponsored Jackson Hole Symposium beginning on Thursday and ending Saturday.|
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.