Monday

April 17th, 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.

 

9:35 AM Stocks open higher, Dow + 75 points.
8:42 AM The Atlanta Fed's GDPNow model forecast for first quarter GDP at 0.5% on April 14. Q1 2017 GDP will be released on April 28.
8:41 AM Fed Fund Futures show a 50% chance of a hike to the Fed Funds Rate in June, but those odds could be quickly fading after last week's soft Retail Sales, tame inflation and today's weak Empire State Index.
8:37 AM The weak Empire data fails to push Bond prices higher.
8:35 AM April Empire manufacturing Index 5.2 vs 13 expected and down from 16.4 in February, further signs of a weak 1st quarter.
8:32 AM Mounting geopolitical tensions continues after President Trump's national security adviser said the U.S., its allies and China were working on a range of responses to North Korea's latest failed ballistic missile test.
8:32 AM On Friday, the Consumer Price Index fell 0.3% vs 0.0%. March Retail Sales -0.2% vs -0.1%, second straight monthly decline.
8:28 AM U.S. dollar index 100.13, -0.33.
8:26 AM The Empire Manufacturing Index will be released at 8:30 a.m. ET. NAHB Housing Market Index at 10.
8:25 AM S&P futures were lower much earlier in the morning, but have bow turned positive.
8:20 AM The yield on the 10-yr Note is at lows seen from mid-November, just after the election.
8:19 AM 10-yr T Note yield 2.21%, near unchanged.
8:18 AM The European markets are closed today for the Easter holiday.
8:15 AM MBS open flat to higher near the 2017 price peaks.

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.

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.

Sign Up Now!