6/28/16

June 28th, 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.

The chart above was posted at 10:51 am est.  At that time MBS were unchanged from yesterdays close.

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

10:48 AM New Rates have been posted http://www.johnmarbury.com/page5.html/

Tue, Jun 28 10:48 AM - MBS continue to trade near unchanged.
Tue, Jun 28 10:47 AM - After a +230 gain, the Dow is now up 170 points.
Tue, Jun 28 10:02 AM - June Consumer Confidence 98 vs the 93.1 expected, highest since October. 
Tue, Jun 28 9:33 AM -  Stocks open with triple-digit gains. Dow +141 points.
Tue, Jun 28 9:10 AM - April Case Shiller 20-city Index +5.4% year-over-year, +0.5% month-over-month.
Tue, Jun 28 8:44 AM - S&P futures +20 points. Dow futures +175.
Tue, Jun 28 8:40 AM - U.S. dollar index 96.03, -0.67.
Tue, Jun 28 8:40 AM - WTI oil +$1.33 to $47.66/barrel.
Tue, Jun 28 8:35 AM - MBS trade to near unchanged levels.
Tue, Jun 28 8:33 AM - Case Shiller will be released at 9:00 a.m., Consumer Confidence at 10. 
Tue, Jun 28 8:31 AM -  The final reading on Q1 2016 GDP rises to 1.1% from the 2nd read of 0.8%. Expectations were for a 1% rise.
Tue, Jun 28 8:24 AM - 10-yr T Note yield 1.47%
Tue, Jun 28 8:19 AM - Players are shedding safe haven assets and moving into more riskier assets and bargain hunt after the Brexit vote touched off carnage in global Stock markets.
Tue, Jun 28 8:14 AM - After the 2-day surge, Treasury and Mortgage Backed securities open lower, as yields edge higher.

 

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!