6/27/16 Fall out continues

June 27th, 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.

Chart was posted at 8:29 am et - The chart shows that we have broken to another level of prices as the fall out from Brexit continues.  If pricess stay at this level we should see a lower percentages on the rate sheet today. 

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

10:50 AM New Rates have been posted http://www.johnmarbury.com/page5.html/

Mon, Jun 27 10:30 AM - Dow -300 points.
Mon, Jun 27 10:30 AM - All Dow 30 Stocks lower.
Mon, Jun 27 10:27 AM - At this point in time, any chance of an interest rate hike by the Fed is all but off the table in July and most likely for 2016. .
Mon, Jun 27 10:06 AM - Stock losses now accelerating - Dow down 240 points.
Mon, Jun 27 9:42 AM - The Dow, S&P and the Nasdaq all lower for 2016.
Mon, Jun 27 8:54 AM - Stock futures have trimmed some losses, but the volatility continues.
Mon, Jun 27 8:43 AM - There are no economic reports set for release today but the rest of the week's calendar packs a punch with GDP, housing, manufacturing, consumer confidence and spending along with inflation data.
Mon, Jun 27 8:28 AM  - U.S. dollar index 96.74, +1.16.

 

 

Mon, Jun 27 8:26 AM - U.S. Stock futures lower. Dow futures -190 points.
Mon, Jun 27 8:18 AM - The so-called Brexit vote threw equity markets off-balance as investors worried over the consequence and fled to safe-haven assets such as gold and government Bonds.
Mon, Jun 27 8:16 AM - The 10-yr T Note yield falls to 1.46% from Friday's close of 1.57%.
Mon, Jun 27 8:15 AM - U.S. Treasuries and Mortgage Bond prices trade higher this morning as the Brexit vote continues to shock the world's equity markets

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!