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Fed Release

Suggestions that can change during the day: Mortgage Bonds are near unchanged despite higher Stock prices. Heading into today's Fed statement, carefully floating is recommended.After close Commentary:  MBS traded near unchanged for most of the session after a brief move lower early in the session finishing off their worst levels. Despite the S&P and the Dow closing higher and solid economic data today, MBS were able to close near unchanged. The Fannie Mae 30-yr 3.5% coupon closed at 102.74, unchanged and just above resistance at the 200-day Moving Average. The S&P 500 clo...

November 1st, 2017 Fed Release

Blog Image: Home Prices up 5.9%

Home Prices up 5.9%

Suggestions that can change during the day:  After some strong economic data, Mortgage Bonds are showing resilience as they trade near unchanged. Carefully floating is recommended.After close Commentary: Not much movement in the MBS market today as traders sat on their hands ahead of the Fed statement. Despite some strong economic data from Chicago PMI, Case-Shiller and Consumer Confidence, MBS ended with meager losses. The Fannie Mae 30-yr 3.5% coupon closed at 102.75, -6bp and right at resistance at the 200-day Moving Average. The Dow and S&P notched 7th straight monthly g...

October 31st, 2017 Home Prices up 5.9%

Core PCE 1.3% Fed wants 2%

Suggestions that can change during the day: After the recent steep decline, Mortgage Bond prices are modestly higher on Stock weakness. Carefully floating is recommended.After close Commentary: MBS kicked off the week on a positive note with the help of lower Stock prices and somewhat negative headlines out of Washington D.C. Lower shares of Merck, the Russian probe and corporate tax cuts to go slowly weighed on Stocks and boosted Bond prices, which led to lower yields. Tame Core PCE inflation also helped to buoy Bond prices. The Fannie Mae 30-yr 3.5% coupon closed at 102.84, +28bp and ab...

October 30th, 2017 Core PCE 1.3% Fed wants 2%

Markets like Jerome

Suggestions that can change during the day: MBS also got a lift from the New York Fed as it purchased $1.50B in Fannie/Freddie 30-yr 3.5% and 4% coupons this morning.Stock and Bond prices get a boost on rumors that President trump leans towards somewhat dovish Fed Governor Jerome Powell as the next Fed Chair. After close Commentary: Rumors continued to surface today that President Trump is leanings towards dovish Fed Governor Jerome Powell to be the next Fed Chair, which lifted Bond prices mid-afternoon and pushed yields lower. Bond shrugged off early morning weakness when the h...

October 27th, 2017 Markets like Jerome

Blog Image: New Home Sales surge 18.9% Highest since October 2007

New Home Sales surge 18.9% Highest since October 2007

Need a Rate quote?  Call (205-266-5669) or email (jmarbury@nationalbankofcommerce.com) John Suggestions that can change during the day:  Rates are currently improving after they were set this morning.  Now it might good time float,  Thinds change quickly.  Call for more information After close Commentary: Coming Soon Late morning Commentary:   The Commerce Department reported on Wednesday that New Home Sales surged 18.9% in September from August to their highest level since October 2007. This was the largest monthly gain since January 1992...

October 25th, 2017 New Home Sales surge 18.9% Highest since October 2007

Dow up Rates up

11:20 am Need a rate quote?  Call or email John.  He is in the office and ready to take your questions.Suggestions that can change during the day: Mortgage Bonds now below support.  You might want to consider locking..After close Commentary:  After today's sell-off and the close below support and after the alert to lock, continue to advise locking until such time we can find a bottom. As we mentioned earlier, the Fannie Mae 30-yr 3.5% coupon hit 102.50 this afternoon and closed just below that level, matching the low seen on July 25. If you take a look at the Bond ...

October 24th, 2017 Dow up Rates up