August 28th, 2017
Rates Effective August 28th, 2017 11:30 AM 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
Suggestions that can change during the day: Rates are pretty good, I can't say it is a bad time to lock. Currently the overall trend appears to be improving. Watch out for Friday Morning.
After close Commentary: Not a lot of movement in today's session as prices traded near unchanged for most of the session. There were no economic reports released today. The Fannie Mae 30-yr 3.5% coupon closed near unchanged at 103.44 and just above resistance one (R1) at 103.34. Not much action in the Stock markets either today. The Dow closed near unchanged at 21,808.40 as did the S&P 500 at 2,444.24. The NASDAQ saw a 17.37 point gain to end at 6,283.01. WTI oil closed lower at $46.57/barrel, down $1.30 as Hurricane Harvey closed many refineries. Economic data tomorrow includes the Case-Shiller 20-city Index and Consumer Confidence.
Late morning Commentary: There are no economic reports due for release today as trading gets underway for the last week of August. The rest of the week features data on consumer attitudes, inflation, economic growth, housing, personal spending, manufacturing and the labor market numbers that culminates with Friday's Jobs Report for August. Summer unofficially comes to and on Labor Day, as kids head back to school and vacations ending this week ahead of the long holiday weekend.
The August Jobs Report will be the big news this week where it is expected that U.S. employers added 183,000 new workers during the month. The Jobs report is closely watched by market participants around the globe to gauge the health of the U.S. labor markets. So far this year, job gains have averaged a solid 184,000 new positions each month, weekly initial jobless claims hover near 40-year lows.
U.S. Stocks are near unchanged to begin the week, as investors assessed the impact of Tropical Storm Harvey. Stocks of refiners, pipeline operators, insurers and home improvement retailers will be in focus this week. The storm will drive more that 30,000 people into shelters as the rain continues this week. Early damages are expected to be seen at a staggering $30 billion, placing the dollar value loss among the top eight hurricanes to hit the U.S.
11:35 AM ET 3.5% Fannie Mae 30-yr coupon up 0 bp at a price of 103.41 down 3 bp when rates were set today at 10:00 am et Open 103.38 High 103.47 Low 103.34
Dailey Moving averages we are currently above: 200 $102.58 100 $102.92 50 102.98 and 25 103.14 Others numbers psychological numbers First level of Support 103.19, First level of Resistance 103.34 Second Level of Resistance $103.47 high of 11/17/16 103.59 High of 11/10/16 104.12
Economic Calendar for the Week of August 28 - September 01
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.