8/08/16

August 8th, 2016

What is Going on with Interest Rates? #wigowir

10:23 AM ET New Rates have been posted

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

  • 30-Year Fixed-Rate Mortgage: The monthly payment on a $200,000 30-year Fixed-Rate Loan at 3.375% and 70% loan-to-value (LTV) is $884.19 with 0 points due at closing. The Annual ercentage Rate (APR) is 3.457%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.

For more rates and details click: http://www.johnmarbury.com/page5.html/

Below is the news when it happened and the market's reaction:

 9:39 AM - S&P slightly higher after the open.

 9:00 AM - S&P futures now near unchanged.

 8:45 AM - The benchmark 3% Fannie Mae 30-yr coupon opens below support at the 25-day Moving Average (103.76).

 8:38 AM - The Treasury will sell $24B 3-yr Notes on Tuesday, $23B 10-yr Notes on Wednesday and $15B 30-yr Bonds on Thursday.

 8:35 AM - The New York Fed provides early week support as it purchases up to $2.675B in 30-yr Fannie/Freddie 3s and 3.5s later this morning.

 8:32 AM - There is just an 18% chance of a Fed Funds Rate hike in September.

 8:30 AM - Fed Fund Futures show a 47% probability of a Fed Funds Rate hike in December, up from 37% on August 4.

 8:24 AM - The U.S. dollar index 96.27, +0.13.

 8:21 AM - There are no scheduled market moving events today.

 8:20 AM - WTI oil +$0.85 to $42.65/barrel.

 8:19 AM - 10-yr T Note yield edges higher to 1.59%.

 8:14 AM - S&P futures modestly higher as Friday's robust payrolls data boosted optimism about economic growth. The S&P (2,182) and the Nasdaq (5,221) closed at record highs on Friday.

 8:11 AM - MBS open near unchanged after Friday's decline which was touched off by the better-than-expected data from the July Jobs Report.

 

Contact

John Marbury
jmarbury@nationalbankofcommerce.com
NMLS# 740833
Phone:205-266-5669
Fax: 866-217-4174

813 Shades Creek Parkway
Birmingham, Alabama 35209
 

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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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