8/15/16

August 15th, 2016

What is Going on with Interest Rates?  #wigowir

10:18 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/

When the price goes down Rates go Up! Unfortunately Mortgage Backed securities are off this morning, but not enough to change the Rate Sheet.  Stock indices are currently trading higher. 

 

Feel free to call 205-266-5669 or email jmarbury@nationalbankofcommerce.com for more information.

Below is the news and the market’s reaction

10:03 AM- The August NAHB Housing Market Index rises two pints to 60, above the 59 expected. July revise to 58 from 59.

 9:37 AM - Fresh record intraday highs for the Dow, Nasdaq and the S&P.

 9:32 AM - Stocks open higher - Dow up a modest 50 points.

 9:01 AM- The July Fed minutes will be released Wednesday at 2:00 p.m. ET.

 8:48 AM – There  are no Treasury Note or Bond auctions this week.

The NAHB Housing Market Index will be released at 10:00 a.m. ET.

S&P futures higher on rising speculation that China may unveil a fresh stimulus program to prop up its economy.

WTI oil $44.70, +$0.22.

U.S. dollar index 95.61, -0.05.

Empire Manufacturing -4.2 vs the +4.0 expected.

10-yr T Note yield 1.52%.

MBS open near unchanged after Japanese Q2 GDP missed forecasts, but industrial production beat expectations.

 

 

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.

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