March 6th, 2017
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.
8:19 AM WTI oil $53.06/barrel, -$0.28.
8:18 AM The 10-yr T Note yield declines to 2.47% from Friday's close of 2.49%.
8:17 AM Fed Fund Futures are pricing in an 80% chance of a hike to the short-term Fed Funds Rate.
8:14 AM Investors are taking profits with the major indices near record highs.
8:14 AM Economic data this week is on the light side but the closely watched monthly Jobs Report for February will be released on Friday and is preceded by the ADP Private Payrolls report on Wednesday.
8:10 AM MBS open near unchanged with lower S&P futures as a rate hike this month is essentially guaranteed.
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.