NewBridge International Realty logo
SIGN UP or LOG IN 's Account

Log in to see your saved listings or edit your searches:

No account? Sign up now to save searches, listings, and get tailored listing notifications. It’s free, opt-out anytime.

Sign Up Today!

Get fresh listings via email, save your favorite listings, match with similar properties, and unlock additional property info.

Create Your Account

Do not fill in this field:

Already have an account? Log in

Blog :: 11-2015

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

4% APR 4.076%

4.125% APR 4.181%

3.875% APR 3.920%

15 yr Fixed Rate

3.125% APR 3.258%

3.5% APR 3.616%

3.5% APR 3.580%

5/1 Adjustable Rate

3% APR 3.132%

2.875% APR 2.931%

2.875% APR 2.918%

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

 

Current Trend Direction: Sideways to higher

Advise Your Clients: Floating as technical picture has improved

Current Price of FNMA 3.5% Bond: $103.25, +6bp

Our thoughts and prayers are with the families and friends of those who perished in the tragic attacks in Paris on Friday.

A flight to the safety trade in response to the attacks is giving Mortgage Bonds a modest boost to start the week.

The only economic report was the November New York State Manufacturing Index falling 10.7 versus the -6.0 expected, but above the -11.4 recorded in October. That is the 4th straight negative reading for the Index. The news is weighing on Stocks, which opened lower to begin the week.

The rest of the week will feature key numbers from the housing sector and consumer inflation.  On Wednesday, the minutes from the October Fed meeting will be released at 2:00pm ET and could have the potential to impact the markets. 

Currently, Fed Fund Futures are pricing in a 70% chance of a rate hike at next month's Fed meeting. 

Technically, Mortgage Bonds continue to edge higher after stabilizing late last week. Over in the Treasury market, the 10-year Note yield has pushed nicely beneath 2.30%, at 2.25% currently

We will continue our floating position - but as always, stay tuned should sentiment change. Have a great week!

    Comments

    1. No comments. Be the first to comment.

    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%

    3.75% APR 3.791%

    15 yr Fixed Rate

    3% APR 3.198%

    3.25% APR 3.369%

    3.375% APR 3.453%

    5/1 Adjustable Rate

    3.125% APR 3.132%

    2.75% APR 2.813%

    2.75% APR 2.794%

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

     

    Current Trend Direction: Sideways to Lower

    Advise Your Clients: Locking if prices unable to break back above 200-day Moving Average

    Current Price of FNMA 3.5% Bond: $104.03, -9bp

    Mortgage Bonds begin the new month slightly lower after falling below support at the 200-day Moving Average late last week. If prices close beneath this resistance today - which is starting to look likely - clients should be advised to lock.

    It's Jobs week as the important Jobs Report for October will be delivered on Friday.  Expectations are currently at 181K new jobs last month.  More on the subject as the week progresses.  At 10:00am ET, the ISM National Manufacturing Index will be released. 

    Global Stocks rose overnight after stronger-than-expected manufacturing PMI's were released in China and Europe.  Weighing on Bond prices was ECB President Draghi making some less-than-dovish remarks over the weekend. In an interview published on October 31, the president of the European Central Bank said that further stimulus is still an "open question".

    Technically, the Bond looks like it wants to stabilize, but underneath resistance at the 200-day Moving Average.  At the same time, the 10-Year Note yield is more comfortable above 2.00%.  With Bonds still near 2015 highs and a big, volatile Jobs Report coming later this week - clients should be advised to lock

     

      Comments

      1. No comments. Be the first to comment.