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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

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

Trying to Stabilize

Email or Call John if you would like a rate quote.jmarbury@nationalbankofcommerce.com205-266-5669Suggestions that can change during the day: Mortgage Bond prices are trying to stabilize near critical support levels. Carefully floating is recommended. After close Commentary: Coming Soon Late morning Commentary:  Corporate earnings season ramps up this week with 37% of the S&P 500 companies set to report. Thus far, three-quarters of the 88 S&P companies that have reported have beat profit expectations. In addition, 12 of the 30 companies in the Dow Jones Industrial ar...

October 23rd, 2017 Trying to Stabilize

Senate Approves Budget Blue Print. Are Tax Cuts Next?

Suggestions that can change during the day: Mortgage Bond prices have slipped below key support levels. Locking is recommended.After close Commentary: Hopes of tax reform sent Bond prices lower this morning and Stocks higher to end the week. The Fannie Mae 3.5% 30-yr coupon closed at 102.66, -25bp. The slightly better Existing Home Sales data had little impact on the Bond markets. The three major Stock indexes closed at record highs on hopes of tax reforms as the Republican-led Senate approved a $4T budget measure which enables the GOP to pass a tax bill with a simple 51-vote majority in ...

October 20th, 2017 Senate Approves Budget Blue Print. Are Tax Cuts Next?

News

Suggestions that can change during the day: Mortgage Bonds are getting a boost from lower Stocks prices. Carefully floating is recommended. After close Commentary: MBS closed with modest gains and traded in a tight range for most of the session ending near the highs of the session. Today's better than expected economic data limited today's Bond price gains. The Fannie Mae 30-yr 3.5% coupon closed at 102.91, +9bp. Stocks closed mixed. The Dow squeaked at a fresh record close, up 5.44 points to 23,163.04, while the S&P also closed at a fresh record high of 2,562.10 wit...

October 19th, 2017 News

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