9/29/16 $104 or higher a sell signal?

September 29th, 2016


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

11:14 AM - Indexes below posted

10:44 AM - MBS trade in a tight range in the morning session. S&P slightly lower with little movement.

10:19 AM - Freddie Mac reports that the 30-yr fixed rate conventional mortgage rate ($417K or less) fell to 3.42% this week with 0.5 in points and fees.

10:13 AM - Train crashes into the Hoboken, NJ Train Deport - 3 dead, 100 critically hurt.

10:12 AM - The weaker than expected Pending Home Sales data unable to lift Bond Prices.

10:10 AM - August Pending Home Sales -2.4%, below the +1% expected.

9:32 AM - The S&P 500 trades slightly lower soon after the open.

9:29 AM New Rates have been posted

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

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

  • 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.

8:45 AM - August Pending Home Sales at 10:00.

8:42 AM - U.S. dollar index 95.55, +0.20.

8:34 AM - Weekly Initial Jobless Claims +3K to 254K in the latest week.

8:33 AM - The final reading for Q2 GDP rises to 1.4% from 1.1% in the last look, just above the 1.3% expected.

8:25 AM - 10-yr T Note yield 1.58%.

8:23 AM - WTI oil $46.95/barrel, -$0.09, off worst levels.

8:22 AM - Philadelphia Fed President Harker (non-voter) says raising rates could spur business investment.

8:19 AM - Oil prices rose nearly 6% in Wednesday's trading due to a supposed agreement from OPEC members to curb output. However, a lack of details of the deal is leading to profit taking this morning.

8:16 AM - MBS open near unchanged while S&P futures push lower on oil pullback.


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

813 Shades Creek Parkway
Birmingham, Alabama 35209

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