December 18th to the 22nd

12/22/17  Late Morning Review: Sales of new homes soared in November, driven by solid demand across the nation. The Commerce Department reported that New Home Sales rose 17.5% from October to an annual rate of 733,000 units, a 10-year high. That was the biggest monthly gain since January 1992. Sales also were up nearly a whopping 27% from November 2016.A strong labor market was one of the catalysts that propelled New Home Sales higher. Regionally, sales rose 31% in the West, 14.9% in the South, 9.5% in the Northeast and 6.9% in the Midwest. The median home price rose 1.2%. Inventori...

December 20th, 2017 December 18th to the 22nd

December 11th to 15th

12/13/17 Market Wrap: Coming soon Late Morning Review: Inflation at the consumer level was somewhat tame in November, due in part to weak healthcare costs and a big drop in apparel prices. The Labor Department reported that the Consumer Price Index (CPI) rose 0.4% in November from October, which was inline with expectations. When stripping out volatile food and energy, the more closely watched Core CPI rose 0.1%, below the 0.2% expected. Year over year, Core CPI fell to 1.7% from 1.8%. The Federal Reserve Bank of the U.S. is expected to raise the short term Fed Funds Rate when t...

December 11th, 2017 December 11th to 15th

December 4th to the 8th 2017

12/08/17 Market Wrap:  Not much action after this morning's movement after the Jobs Report was released. U.S. employers added 228K new workers last month, above the 190K expected. The Fannie Mae 30-yr 3.5% coupon closed at 102.78, -9bp, and right on support at the 200-day Moving Average. The Dow closed at 24,329.16, +117.68 while the S&P 500 gained 14.52 points to end at 2,651.50, both record high closes. The NASDAQ rose 27.24 points to end at 6,840.08. WTI oil closed at $57.34/barrel, +$0.68. 10-yr yield 2.37%. Next week we will receive inflation data from the Producer and ...

December 4th, 2017 December 4th to the 8th 2017

November 27th - December 1st 2017

Friday 12/01/17 Late Morning Review: The national homeownership rate in the U.S. as of September 30, 2017 was 63.9%, down from a peak of 69.2% at the end of 2004. Every 1 percentage point reduction in the homeownership rate represents 1.2 million households that have changed from homeowner to renter status. Freddie Mac reports that the average 30-year fixed rate mortgage over the last 45 years is 8.26%. The average 30-year fixed rate mortgage as of 1130/17 was 3.90%. Mortgage rates continue to run just above all-time lows. The all-time low was 3.35% hit back in November and December o...

November 27th, 2017 November 27th - December 1st 2017

November 6th thru 10th

November 10th, 2017After close Commentary:After close Commentary: The U.S. Senate released its version of a tax cut bill yesterday with the focal point being mortgage interest deductions. The Senate bill will keep in place the current mortgage interest deduction cap of $1,000,000. The House would cap the deduction at $500,000. The corporate tax rate for the Senate bill would be slashed to 20% from the current 35%, but implementation would come in 2019, as opposed to 2018 for the House bill. The House and Senate seem to have a tough road ahead to come to some sort of compromise on the new ...

November 8th, 2017 November 6th thru 10th

Jobs Rise after Harvey

Today’s 30 year fixed rate.  Call for individual quotes that can be better or worse than the rates posted or belowSuggestions that can change during the day: After the headline risk from the Jobs report for October, Mortgage Bond prices are near unchanged. Carefully floating is recommended.After close Commentary: Late morning Commentary:   The Labor Department reported on Friday that job growth rebounded in October. Non-farm Payrolls rose by 261,000 new jobs versus the 300,000 expected while August and September were revised higher by a total of 90,000. The weak ...

November 3rd, 2017 Jobs Rise after Harvey

Contact

John Marbury
jmarbury@nationalbankofcommerce.com
Mortgage Lender NMLS# 514390
NMLS# 740833
Phone:205-266-5669
Fax: 866-217-4174

813 Shades Creek Parkway
Birmingham, Alabama 35209
 

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