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Video Mortgage Market Recap for July 29th

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Mortgage and Lending with Caliber Home Loans CHL NMLS# 15622 CHL NMLS# 15622
Hello AR Team! Never a dull moment. Talk about a see-saw. You would have to have nerves of steel sitting in the pits on Wall Street. Today the Dow is up 200 points and of course you have learned by now, when Stocks are on a rally, that typically means money is being pulled out of bonds, causing mortgage rates to rise. That is the case this morning as well. We are not at our worst levels of the day but we are down -31 bps on mortgage backed securities. The reason for this, well several things. Most importantly, oil is down $4 per barrel, and the consumer confidence numbers came in hotter then expected, the first time we have seen an increase since December. Watch the rest of the video for more details and be sure to check back later in the week for the big market moving reports with the GDP numbers as well as jobless claims and payroll number. Be Blessed! Be sure to check out www.neliton.com for more interactive, up to the minute information.

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