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

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

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%

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John Marbury
jmarbury@nationalbankofcommerce.com
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As a loan officer (mortgage broker 1989-2006) since 1985, I have seen a lot of changes over the years. The only consistency in the mortgage business and life is change. This is the reason that we believe it is necessary to move quickly and to be early. Let us know if you have any questions or if we can help in any way.

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