August 30th, 2016
What Is Going On With Interest Rates? #wigowir
When the price of Mortgage Backed Securities (MBS) on the Chart above goes down rates go up, and when the price goes up rates come down. Chart was posted at: 10:36 am. All times are Eastern Standard.
Feel free to call (205-266-5669) or email (firstname.lastname@example.org) John for a quote based on the terms of you loan.
9:41 AM ET 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) No Origination Fee
For more rates and details click: http://www.johnmarbury.com/page5.html/
Below is the news when it happened and the market’s reaction. All Times are Eastern Standard Time.
10:02 AM - August Consumer Confidence surges to 101.1, well above the 97 expected and up from the 97.3 in July. It was the best reading since September 2015.
9:46 AM - Soon after the open, the S&P trades near unchanged.
The June Case Shiller 20-city Home Price Index shows a 5.1% increase year-over-year, inline with estimates, below the 5.3% recorded in May.
9:02 AM - The New York Fed will purchase up to $2.05B in 30-yr Fannie Mae 3 and 3.5 coupons beginning at 9:00 a.m. ET.
8:43 AM - June Case Shiller Home Price Index (9:00 ET) and August Consumer Confidence (10:00 ET).
U.S. dollar index 95.81, +0.27.
8:28 AM - Vice Fed Chair Fischer spoke earlier this morning but his remarks didn't move the markets much saying the economy is close to full employment, productivity is sluggish.
Vice Fed Chair Fischer spoke earlier this morning but his remarks didn't move the markets much saying the economy is close to full employment, productivity is sluggish.
S&P futures are near unchanged after Stocks also rallied yesterday.
WTI oil $47.48/barrel, +$0.48.
The 10-yr T Note yield at 1.57% from yesterday's close of 1.56%.
The benchmark 3% Fannie Mae 30-yr coupon opens near unchanged after yesterday's rally that ended in the price closing just above resistance at the 25-day Moving Average (103.72).