September 8th, 2017
Rates Effective September 8, 2017 10:30 AM EST
*30-Year Fixed Rate 3.750% (3.835%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: Despite lower Stock prices, Mortgage Bonds are flat to lower to end the week. Probably not a bad day to lock in.
After close Commentary: Coming Soon
Youtube Market Wrap: https://www.youtube.com/embed/t99qRxCtx3s?rel=0&autoplay=1
Late morning Commentary: The chances for a hike to the Fed Funds Rate are moving lower, due in part to low inflation levels. Fed Fund Futures show a 26% chance of a hike to the Fed Funds Rate in December, down from 44% last week. With no chance of a hike at the mid-September meeting and a slimmer chance of even seeing another hike this year, the markets are keying in on any rhetoric regarding the unwinding of its massive $4.5 trillion balance sheet at the mid-September meeting.
Fannie Mae released its Home Purchase Sentiment Index this week as it rose 1.2 points to 88.0 in August. The net share who reported that now is a good time to sell a home rose 8 percentage points in August and is now up 21 percentage points compared to the same period last year. Meanwhile, the net share who said it’s a good time to buy fell 5 percentage points in August and is down 16 percentage points year-over-year. Americans also expressed a reduced sense of job security, with the net share who say they are not concerned about losing their job falling 1 percentage point.
Credit reporting agency Equifax reported on Thursday that 143 million customer accounts were breached between mid-May and July. The breach exposes the massive amount of consumers to identity theft as Social Security numbers, birth dates, addresses and, in some cases, drivers license numbers have been exposed. A security analyst said "on a scale of one to 10, this is a 10 in terms of potential identity theft.'' Three days before the breach was uncovered, three executives at Equifax sold a combined $1.8 million in shares of the company, A company spokesperson said the sellers had no knowledge of the breach at the time of the sales.
10:48 AM ET 3.5% Fannie Mae 30-yr coupon Down 10 bp at a price of 103.78 down 3 bp when rates were set today at 10:00 am et Open 103.91 High 103.94 Low 103.75
Dailey Moving averages we are currently above: 200 $102.59 100 $103.00 50 103.08 and 25 103.39 Others numbers psychological numbers New First level of Support 103.47, New Second Level of support $103.34
First level of resistance $103.69 low of 11/10/16 Second level of resistance $103.90 half of the trading range of 11/10/16. The Presidential election was 11/08/16. On that day the MBS closed at $104.91
|Fri, Sep 08 8:20 AM WTI oil at $49.03/barrel, near unchanged.|
|Fri, Sep 08 8:18 AM There are no economic reports due for release today.|
|Fri, Sep 08 8:16 AM 10-yr yield edges lower to 2.03%.|
|Fri, Sep 08 8:14 AM Reports from South Korea reveal that North Korea will undergo another missile test this weekend. The headlines are weighing on Stock futures.|
|Fri, Sep 08 8:08 AM MBS open flat to slightly higher with declining Stock futures as powerful storm Irma heads towards Florida.|
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.