August 1st, 2016

10:38 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 and details click: http://www.johnmarbury.com/page5.html/

Below is the news when it happened and the markets reaction.

10:34 AM - U.S. construction spending fell for a third straight month in June.

10:21 AM - The S&P edges into positive territory, barely.

10:02 AM - The July ISM Manufacturing Index 52.6, below the 53.1 expected. The employment component fell into contraction to 49.4 from 50.4. 50% is the dividing line from expansion and contraction.

 9:42 AM - Stocks trading with modest losses, Dow -30 points.

9:18 AM - The median sales price of a new home sold nationwide during June 2016 was $306,700. The median sales price of an existing home sold nationwide during June 2016 was $247,700.

 8:21 AM - The big economic headline comes on Friday morning with the release of the July Jobs Report where it is expected 185K jobs were created.

 8:20 AM - WTI oil slides lower by -$0.37 at $41.23/barrel.

 8:20 AM - The ISM Index will be released at 10:00 a.m. ET.

 8:17 AM - New York Fed President Dudley says it would be premature to rule out rates hikes this year, but he called latest GDP (1.2%) sluggish and said that negative shocks were more likely to materialize than positive ones.

 8:16 AM - 10-yr T Note yield 1.49%.

 8:13 AM - MBS open lower after the three-day rally as Stock futures edge higher.


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

813 Shades Creek Parkway
Birmingham, Alabama 35209

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