CoreLogic: Home prices rose 7.1% from Nov 2015- Nov 2016

January 3rd, 2017

 

 

Who is Core Logic? From Wikipedia, the free encyclopedia

CoreLogic, Inc. (NYSE: CLGX) is an Irvine, CA-based corporation providing financial, property and consumer information, analytics and business intelligence. The company analyzes information assets and data to provide clients with analytics and customized data services. The company also develops proprietary research, and tracks current and historical trends in a number of categories, including consumer credit, capital markets, real estate, fraud, regulatory compliance, natural hazards, and disaster projections.[2][3][4][5][6] The company reported 2015 revenue of $1.5B.[1]

What Is Going On With Interest Rates?  #wigowir

Below is the news when it happened and the market’s reaction.  For a full view of the day start at the bottom and work your way up. If want to know what just happened start at the top. All Times are Eastern Standard Time.  When the price of Mortgage Backed Securities (MBS) goes down rates go up, and when the price goes up rates come down. Remember in the bond market Bad News is Good News and Good News is Bad news.

 

3:55 PM The 10-yr T Note yield closed at 2.43% on Friday, hit 2.51% early this morning, and now at 2.44%.

3:47 PM Stocks pushing higher into the close of trading, Dow +100 points.

2:56 PM Not much movement in MBS for the past few hours.

12:54 PM At midday, MBS well off early lows. Stocks well off highs as oil prices fall into negative territory.

12:40 PM The Dow is now up 28 points, well below the 160 point gain seen earlier in the session as oil trades from a high of $55.24 to the current price of $52.42/barrel., -$1.30.

11:45 AM MBS continue to edge higher, cutting most losses.

11:30 AM Zillow reports that the total value of U.S. housing grew to a total of $29.6 trillion in 2016, marking an all-time high.

11:22 AM MBS able to push to session highs, though still underwater.

10:58 AM Stocks giving up gains. Dow was +160 points, now +70.

10:06 AM The December ISM Manufacturing Index at 54.7 vs the 53.6 expected and up from 53.2 in November.

10:05 AM MBS back at session lows.

9:46 AM MBS bounce off lows.

9:40 AM Stocks open sharply higher, Dow + 150 points.

9:39 AM CoreLogic reports that home prices, including distressed sales, rose 7.1% from November 2015 to November 2016.

 

 

9:05 AM The only economic report due for release today is the December ISM Manufacturing Index at 10:00 a.m.m ET.

9:01 AM U.S. dollar index 103.42, +1.13.

9:01 AM WTI oil $55.03/barrel, +1.31.

8:52 AM 10-yr T Note yield 2.50% from Friday's close of 2.43%.

8:50 AM MBS open lower after last week's week rally as global Stocks push higher after positive economic news out of Europe.

 

Johnmarbury.com has attempted to verify the information contained on this post.  However any aspect of such may change without notice.  Johnmarbury.com does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. On October 5th we started posting our rates and leaving them on the site for you to refer back to. This will allow  you see where actual rates have been along with the news that caused the fluctuations on the rate sheet.  I ask that you forgive my spelling and grammatical mistakes. This is due writing skills that are lacking and the need to communicate quickly.  Most of the information posted on this blog along with the charts and indexes are available all during the day to the subscrbers of www.themortgagemarketguide.com  The cost of subscription is very reasonable.

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