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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

$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 beneath resistance

Advise Your Clients: Locking

Current Price of FNMA 3.5% Bond: $103.44, Unchanged

Mortgage Bonds trade near unchanged and remain below resistance as the month of November comes to an end.

The week's economic calendar is packed with a slew of important economic reports culminating with the November Jobs Report on Friday, where it is expected that employers added 196K new workers.  If this week's Non-farm Payrolls report reveals employment growth remains solid, a Fed Rate hike in December will be highly likely.

There are no T Note or Bond auctions this week.  Later this morning, October Pending Home Sales and November Chicago PMI will be released. 

Clients should be advised to lock as prices remain in a tight sideways range, but beneath resistance.  Should prices break above this resistance and step higher, we will be more bullish and will adjust our stance accordingly.

 

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