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Blog Image: Jobs Rise after Harvey

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

Jobs Report tomorrow

Suggestions that can change during the day: Mortgage Bond prices are modestly higher ahead of tomorrow's closely watched jobs report. Short-term locking is recommended.After close Commentary: Not much movement in MBS today ahead of tomorrow's Jobs Report for October where it is expected that 300K new positions were created. The benchmark Fannie Mae 30-yr 3.5% coupon closed at 102.84, +6bp, above resistance at the 200-day Moving Average. Stocks ended mixed. The Dow ended with an 81.25 gain closing at a record high of 23,516.26, the S&P closed near unchanged at 2,579.85, wh...

November 2nd, 2017 Jobs Report tomorrow

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