9/23/16 Stalling?

September 23rd, 2016

What Is Going On With Interest Rates? #wigowir

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

11:23 am - See indexes below

9:34 AM - MBS at session lows as prices seem to be stalling.

9:32 AM - The S&P 500 opens lower.

9:23 AM 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 Percentage 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.

Feel free to call (205-266-5669) or email (jmarbury@nationalbankofcommerce.com) John for a quote based on the terms of your loan.

8:29 AM - There are no economic reports due for release this morning.

8:25 AM - U.S. dollar index 95.32, -0.06.

8:24 AM - WTI oil $46.26/barrel, near unchanged.

8:22 AM - 10-yr T Note yield 1.61%.

8:20 AM - S&P futures lower after the three day rally that took the Nasdaq to a fresh record close yesterday of 5,339.

8:12 AM - We grow ever so cautious with prices at the current frothy levels as they seem to reverse lower when looking at the six-month chart.

8:04 AM - MBS open near unchanged at the 2016 highs after the 3% Fannie Mae 30-yr coupon gained back 84bp since the September 14 low of 103.0.