| Loan Program | Up to $417,000 | $417,001 - $601,450 | $601,451-$1,000,000 |
| 30 yr Fixed Rate | 3.75% APR 3.825% | 4% APR 4.066% | 3.65% APR 3.667% |
| 15 yr Fixed Rate | 3 % APR 3.127% | 3.125% APR 3.243% | 3.25% APR 3.326% |
| 5/1 Adjustable Rate | 2.875% APR 2.947% | 2.625% APR 2.686% | 2.625% APR 2.790% |
Single family, owner occupied, 80% loan to value, 740 or better fico
Current Trend Direction: Higher
Advise Your Clients: Start the day floating...but be ready to lock.
Current Price of FNMA 3.5% Bond: $104.50, -9bp
With the specter of a rate hike all but off the table in 2015, Stock futures are pointing higher, while Bond prices open the week slightly lower.
September Non-farm Payrolls came in at 142K, below the 205K expected while July and August were revised lower by a total of 59K. There is now nearly no chance of Fed Funds Rate hike at the end of this month, a 27% chance in December with the most likely hike to occur in March 2016...maybe.
In addition, the US dollar index is trading lower against most major currencies as investors continue to react to Friday's bearish Non-farm Payrolls report as yields pushed lower. Lower Treasury yields are making the U.S. dollar a less-desirable investment.
The economic calendar is extremely light this week with just today's ISM Services being released at 10am and Weekly Initial Jobless Claims on Thursday. The Treasury will be selling a total of $58B in Notes and Bonds this week beginning on Tuesday, Wednesday and Thursday.
The September Fed minutes will be released at 2:00pm ET on Thursday and will garner some attention.
