| 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!
