July 10th, 2017
Suggestion: Difficult for Bond rates to drop further. No big econ reports today. Watching global yields. Let’s start day floating.
For News that affect these rates drag all the way down the page.
Rates Effective July 10, 2017 11:30 AM EST
No origination on all posted rates. Call for other rates
Conforming loans $424,100 and under
30-Year Fixed 4.125% (4.213%APR)
15-Year Fixed 3.375% (3.523% APR)
Actual payments will vary based on your individual situation and current rates. The above rates are subject to change.
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.
After close Commentary: Stock and Bond markets experienced positive gains today, albeit some were modest. The FNMA 30-year 3.5% coupon continued to struggle to get above the 100-day moving average (102.55), closing at 102.50, up 9 bps. All major Stock indexes also were up, with the S&P gaining 2.25 to close at 2427.43, the Nasdaq up 23.31 to 6176.39, and the Dow down 5.82 to 21408.52. WTI Crude showed some promise, rising .20 to 44.43. Wholesale and consumer inflation as well as Retail Sales will be released at week’s end .
|Mon, Jul 10 2:30 PM USD LIBOR 1-month 1.22%, 3-month 1.30%, 6-month 1.46%, 12-month 1.75%.|
|Mon, Jul 10 12:45 PM U.S. dollar index 95.83 +0.043.|
|Mon, Jul 10 11:16 AM 10-yr German Bund yield .54% down from previous close of .57%|
|Mon, Jul 10 10:25 AM 10-yr T Note yield rises to 2.38% from previous close of 2.37%|
Late morning Commentary: Buyout talks have unraveled for former fashion icon Abercrombie and Fitch, the latest mall fixture plagued by online shopping. The retailer announced 60 store closings in 2017 and shuttered 53 stores last year. Express and American Eagle Outfitters were rumored to be potential buyers.
The U.S. Senate is back in session today and trying to diagnose the health of their next move on the repeal and replacement of the Affordable Care Act, commonly known as Obamacare. The House of Representatives passed a healthcare overhaul bill in May. Among the challenges for Congress: reducing healthcare costs while minimizing the loss of coverage to millions of Americans.
Markets opened little changed this morning. Potential market movers are many the latter half of the week, including reports on retail sales as well as wholesale and consumer inflation. Earnings reports for second quarter start to filter in when big banks release their numbers Friday. Global yields also need to be watched after last week’s spikes rattled U.S. markets.
|Mon, Jul 10 9:17 AM WTI oil at $43.86/barrel down 37 cents.|
|Mon, Jul 10 8:07 AM S&P futures open slightly higher.|
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 subscribers of www.themortgagemarketguide.com The cost of subscription is very reasonable.