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Weekly Mortgage Message from our in-house Mortgage Master Specialist, Colleen Polson.

Loan Program

Up to $417,000

$417,001 - $601,450


30 yr Fixed Rate

4% APR 4.076%

4.125% APR 4.181%

4% APR 4.039%

15 yr Fixed Rate

3% APR 3.127%

3.375 % APR 3.472%

3.5% APR 3.573%

5/1 Adjustable Rate

2.875% APR 2.947%

2.625% APR 2.686%

2.75% APR 2.788%



Current Trend Direction: Sideways between support and resistance

Advise Your Clients: Carefully Floating

Current Price of FNMA 3.5% Bond: $103.94, +19bp

Mortgage Bonds are higher as volatility continues in the financial markets. 

After losing meaningful pricing since last Monday's "momentary" pop higher - Bonds are trying to stabilize in advance of this Friday's Jobs Report. This report may give us insight as to if and when the Fed raises rates.  We still think a December one and done is more likely, but you just never know.  And it is this uncertainty that is weighing on Stocks at the moment, especially after the Fed's Stanley Fischer did not rule out a September rate over the weekend. 

Technically - Mortgage Bonds are showing some positive signs.  The 25-day Moving Average is crossing above its 100-day MA, the Bond has held above the 25-day each of the past few days and the Bond is forming support at a former resistance level.    

For these reasons, we will continue to float - but looking ahead, clients should be lined up and be prepared to lock in front of Friday's Jobs Report 


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