Mortgage Rates & Massive Tax Plan

September 27th, 2017

Full Rate Sheet Wednesday:  https://www.johnmarbury.com/blog/10302/full-rate-sheet-wednesday

Suggestions that can change during the day: A pending tax reform announcement from the Trump administration later today weighs on Bond prices this morning. Carefully floating is recommended.

After close Commentary: Coming Soon

 

Late morning Commentary:   Coming Soon

Wed, Sep 27 10:17 AM Stocks give up some gains.
Wed, Sep 27 10:00 AM August Pending Home Sales -2.6% vs -0.4% expected. The NAR says the housing market has stalled with such low inventories and a spike in home prices.
Wed, Sep 27 9:56 AM Stocks trading higher soon after the open, Dow +70 points.
Wed, Sep 27 8:53 AM Mortgage Bond prices continue to edge lower.
Wed, Sep 27 8:51 AM The FHA 30-yr rate essentially unchanged at 3.38%.
Wed, Sep 27 8:50 AM The MBA reports that the 30-yr fixed conforming and jumbo rates rose 7bp to 4.11% and 4.06%, respectively.
Wed, Sep 27 8:49 AM The MBAs purchase index +2.8%, refinance index -3.5%.
Wed, Sep 27 8:47 AM The MBA reports that its Market Composite Index, a measure of total mortgage loan application volume, fell 0.5% in the latest week.
Wed, Sep 27 8:35 AM U.S. dollar index 93.30, +0.51.
Wed, Sep 27 8:34 AM WTI oil $51.90/barrel, near unchanged.
Wed, Sep 27 8:31 AM August Pending Home Sales will be released at 10.
Wed, Sep 27 8:30 AM Durable Orders rise 1.7% in August vs 0.7% expected, up from -6.8% in July.
Wed, Sep 27 8:27 AM The Treasury will sell $34B 5-year Notes today, results at 1:00 p.m. ET.
Wed, Sep 27 8:23 AM Fed Fund Futures now show an 81.4 chance of a hike to the Fed Funds Rate in December. That is up from 25% just a few weeks ago.
Wed, Sep 27 8:21 AM Fed Chair Yellen said yesterday that it would be "imprudent" to keep interest rates on hold until inflation hit the 2% target.
Wed, Sep 27 8:18 AM The Trump administration is set to unveil a massive tax plan that could be the driver of economic growth. Investors push S&P futures higher while Bond prices are pressured lower.
Wed, Sep 27 8:17 AM The 10-yr T Note yield rises to 2.29% from yesterday's close of 2.22%.
Wed, Sep 27 8:16 AM Mortgage Bond prices trade modestly lower soon after the open but Treasury prices are taking a beating.

**Rate Assumptions  coming soon

 

 

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
NMLS# 740833
Phone:205-266-5669
Fax: 866-217-4174

813 Shades Creek Parkway
Birmingham, Alabama 35209
 

Mission Statement

As a loan officer (mortgage broker 1989-2006) since 1985, I have seen a lot of changes over the years. The only consistency in the mortgage business and life is change. This is the reason that we believe it is necessary to move quickly and to be early. Let us know if you have any questions or if we can help in any way.

Sign Up Now!