6/16/16

June 16th, 2016

When the price of Mortgage Backed Securities (MBS) on the above chart above goes up mortgage rates come down.  When the price goes down mortgage rates go up.

On the chart above you will see that we are getting close to 2 year highs on the price and lows on the rates.

Below is the news when it happened and market reaction.  All of the times below are Eastern Standard Time

11:37AM New Rates have been posted http://www.johnmarbury.com/page5.html/

Thu, Jun 16 11:31 AM - Bonds off the best levels. Be careful on our floating stance which may be changing.

Thu, Jun 16 9:25 AM - USD LIBOR 1-month .44%, 3-month .65%, 6-month .94%, 12-month 1.26%.
Thu, Jun 16 9:04 AM - U.S. dollar index 95.16 +0.48.
Thu, Jun 16 8:59 AM - 10-yr German Bund yield .02%.
Thu, Jun 16 8:55 AM - WTI oil at $47.16/barrel down 85 cents.
Thu, Jun 16 8:52 AM - 10-yr T Note yield down to 1.55%.
Thu, Jun 16 8:46 AM - CPI (May) +0.2% vs. estimated +0.3%. Philadelphia Fed Index rose to 4.7 from -1.8 in May.
Thu, Jun 16 8:20 AM - S&P futures open lower.

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.

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