What is Going on with Interest Rates? #wigowir

10:10 AM ET New Rates have been posted

30-Year Fixed 3.375%  (3.457% APR) No Origination Fee  

  • 30-Year Fixed-Rate Mortgage: The monthly payment on a $200,000 30-year Fixed-Rate Loan at 3.375% and 70% loan-to-value (LTV) is $884.19 with 0 points due at closing. The Annual ercentage Rate (APR) is 3.457%. 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.

Rates on the lender paid pmi programs went down 0.125% today.  Click on the link below to see more info.

Or call John at 205-266-5669

For more rates and details click:

10:21 AM The above Chart was posted.  You will notice that yesterday there was a drop in prices.  This was caused by the bond rollover mentioned at the bottom of the page.  This has nothing to do with yields only the time of delivery.  We are now back above the 25 day moving average, or the Green line on the chart.  This is a good sign for rates going forward.   Remember when the price goes up rates come down. Feel free to call 205-266-5669 or email for more information.

Below is the news when it happened and market reaction.

10:18 AM - The JOLTS Report, Job Openings and Labor Turnover Survey, saw job openings edge higher in June to 5.6 million from 5.5 million in May, reports the Labor Department.

9:32 AM - S&P opens near unchanged to slightly higher.

 9:06 AM - The MBAs refinance index +6%, purchase index +3%.

9:00 AM - The benchmark 3% Fannie Mae 30-yr coupon trades back to support at the 25-day Moving Average (103.72).

8:47 AM - The Treasury will sell $23B 10-yr Notes today, results at 1:00 p.m. ET.

 8:46 AM - The MBAs Market Composite Index, a measure of total mortgage application volume, rose 7.1% in the latest week.

 8:26 AM - WTI oil $42.62/barrel near unchanged.

 8:24 AM - 10-yr T Note yield edges lower to 1.52%.

 8:12 AM - The U.S. dollar index -0.68 to 95.45 as the greenback gets pummeled against all major currencies. The Japanese Core Machinery Orders Index showed signs of bottoming and sent the dollar lower against the yen. Also, yesterday's weak Productivity data also weakened the dollar, which could subdue expectations for an interest rate hike by the end of the year here in the U.S.

8:11 AM - S&P futures slightly higher as the index continues to flirt with record highs.

 8:10 AM - MBS open near unchanged.

 8:00 AM - Mortgage Bonds had their monthly coupon rollover after the close of trading yesterday, meaning this month's coupon is closed out and all new loans are placed into next month's coupon. While the effect of this rollover was -25bp for the Fannie Mae 30-year 3% coupon, rate sheets or pricing will not be impacted. So don't panic!



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