10/04/16

October 4th, 2016

Below is the news when it happened and the market’s reaction. For best results start at the bottem and work your way up. All Times are Eastern Standard Time.

9:30 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.

8:48 AM - The New York Fed will be purchasing up to $2.775B in Fannie/Freddie 3s and 3.5s this morning.

8:42 AM - CoreLogic reports that August home prices rose 6.2% year-over-year, +1.1% from July.

8:30 AM - U.S. dollar index 96.23, +0.64.

8:28 AM - 10-yr T Note yield 1.62%.

8:27 AM - WTI oil $48.56/barrel, -$0.24.

8:21 AM - S&P futures now near unchanged.

8:21 AM - Stock investors are treading carefully due to the future interest rate environment, upcoming earnings season, the U.S. presidential election and Britain's separation from the European Union.

8:18 AM - Fed's Lacker (non-voter) said there was a strong case for raising interest rates to keep inflation under control. Feels the Fed Funds Rate should be 1.5%.

8:16 AM - There are no economic reports due for release today.

8:14 AM -MBS open higher while S&P futures edge higher as the Deutsche Bank woes ease.

 

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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