Our mobile site is optimized for smaller screens.

TRY IT NO THANKS

Back To Blog

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

 

Loan Program

Up to $417,000

$417,001 - $601,450

$601,451-$1,000,000

30 yr Fixed Rate

3.875% APR 3.951%

4% APR 4.066%

3.875% APR 4. 4.930%

15 yr Fixed Rate

3 % APR 3.127%

3.25% APR 3.369%

3.375% APR 3.442

5/1 Adjustable Rate

3% APR 3.132%

2.75% APR 2.801%

2.75% APR 2.788%

Single family, owner occupied, 80% loan to value, 740 or better fico

Current Trend Direction: Topping out at resistance at 200-DMA

Advise Your Clients: Locking 

Current Price of FNMA 3.5% Bond: $103.94, -16bp

Mortgage Bonds are trading lower to begin the week as Stock prices bounce back following the big sell-off after the Fed statement on Thursday.

Over the weekend, Fed members John Williams of San Fran and James Bullard of St. Louis said they still expect an increase in 2015. Fed Funds Futures are pricing in a 20% chance of a rate hike in October, 46% chance in December. Later this afternoon Atlanta's Dennis Lockhart will most likely weigh in on the subject, while Fed Chair Yellen will be speaking Thursday night.  The percentage chances of a hike speak for themselves...chances are we don't see one in 2015.

The only economic report due for release today is August Existing Home Sales at 10.  The rest of the week's calendar consists of Weekly Claims, Durable Orders, New Home Sales, GDP and Consumer Sentiment.  

Technically, the Bond has retreated from resistance at the 200-day Moving Average after having closed near that level on Friday.  With Stock prices on the rise today and with Mortgage Bonds back near the highs seen in late April, clients should feel good locking right here.

 

 

    Add Comment

    Do not fill in this field:

    Comments are moderated. Please be patient if your comment does not appear immediately. Thank you.

    Comments

    1. No comments. Be the first to comment.