July 28th, 2016

10:53 AM New Rates have been posted 

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

15-Year Fixed 2.750%   (2.892% APR) No Origination Fee

7-1 ARM 30 year 3.000% (3.341% APR) Conforming and Jumbo

For more rates & details click on the following link: http://www.johnmarbury.com/page5.html/

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

10:01 AM - Freddie Mac reports that the 30-yr fixed conventional mortgage rate, $417K or less, edged up to 3.48% in the latest week with 0.5 in points/fees.

 9:34 AM - The S&P trading near unchanged at the open.

 8:51 AM - The Treasury will $28B 7-year Notes today, results at 1:00 p.m. ET.

 8:36 AM - The New York Fed will be purchasing up to $2.6B in Fannie/Freddie 30-yr 3% coupons beginning at 11:15 a.m. ET.

 8:35 AM - U.S. dollar index 96.52, -0.52.

 8:30 AM - Weekly Initial Jobless Claims +14K to 266K, above the 260K expected.

 8:21 AM - S&P futures near unchanged as investors assess the Fed's statement and future interest rate policy.

 8:18 AM - 10-yr T Note yield 1.51%.

 8:18 AM - WTI oil $42.15/barrel, +$0.20.

 8:15 AM - However, Fed Fund Futures are reflecting an 18% chance of higher rates by the September meeting, from 27% before the statement was released.

 8:12 AM - The Fed did say "near-term risks to the economic outlook have diminished", which left some to believe that a September hike may be in the cards.

 8:08 AM - MBS open near unchanged after yesterday's rally touched off by no change in rates and no clear language as to when hikes may begin.


John Marbury
Mortgage Lender NMLS# 514390
NMLS# 740833
Fax: 866-217-4174

813 Shades Creek Parkway
Birmingham, Alabama 35209

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