| 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 3.127% | 3.375% APR 3.472% | 3.25% APR 3.326% |
| 5/1 Adjustable Rate | 3% 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: Higher, right at resistance
Advise Your Clients: Locking
Current Price of FNMA 3.5% Bond: $103.97, -3bp
Stocks are higher, but well off of their best levels as oil has started to slip lower again. This has helped Bonds gain some ground off of their worst levels. lso helping Stocks were positive earnings reports from Bank of America and Morgan Stanley.
China reported 6.9% GDP growth in 2015, down from 7.3% in 2014 and the slowest annual growth in 25 years. The country’s transition to a more service oriented economy is a large, complicated change that will take more time and likely result in slower GDP numbers in the near-term.
The only economic report due for release today is the January NAHB Housing Market Index coming in at 60, below the 61 expected. The rest of the week's calendar is on the light side with CPI, more housing data and the Philly Fed Index.
There are no T-Note or Bond auctions this week.
Technically, the Bond is trading above its 200-day moving average, but is having difficulty pushing through another tough level of resistance. At the same time, the 10-year Note yield is at 2.05% after hitting 1.99% in the past few trading days. New clients should be advised to lock
