| 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.
