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Mortgage Market Snapshot 10.01.15

By
Mortgage and Lending with US Mortgages - David Shamansky NMLS#392126

Today entrenched the trading range, which is a good thing as they have improved by a solid 50-75bps over previous, and saw the FNMA 3.0 coupon not only hit the ceiling of 101.50 but pierce it for a couple hours before finally closing for the day at 101.469.

Tomorrows news should be interesting as initial claims being higher than expected still shows weakness in the employment market and with manufacturing still a little sluggish I see no signs right now for any major movements (unless some unexpected data is released tomorrow).

I think people are safe floating for now as you may see some minor gains but that is all based on the tolerance for risk and if you have an aversion to it then play the safe game and LOCK pricing is so good you are not making a bad call either way.

Here is today's data...

More Americans filed for unemployment benefits than expected last week with Initial Jobless Claims rising 10K to 277K vs. 267K prior (consensus 271K). The four-week moving average for Jobless Claims fell to 270,750 vs. 271,750 prior. Continuing Claims dropped 53K to 2191K vs. 2244K prior. ISM Manufacturing dropped to 50.20 in September from 51.10 prior for the third consecutive monthly decline; 50.00 is the dividing line between expansion and contraction. Markit US Manufacturing PMI inched 0.10 higher to a final September reading of 53.10 vs. 53.00 in October. Tomorrow we have Nonfarm Payrolls/Unemployment for September and expectations are for 200K  vs. 173K prior with no change in unemployment (5.10%). Treasuries are flat this morning following the data release

US Mortgage Colorados own and 560 FICO Lender

Posted by

araward

Colorado 1st Time buyers, if you are ready to stop renting, get the many benefits from home ownership, or maybe your a current homeowner looking to move up or maybe looking into what it takes to become an investor in this incredible market, that WILL create millionaires, and you are looking for a strategy, answers and direction, please feel free to call or email me. My 22yrs in mortgage lending and 30+ years in finance gives me an in depth knowledge, critical to helping others and making their dreams go from dream to reality!

David Shamansky
"Positive reinforcer, promoter, success coach, entrepreneur, team builder, wealth builder, blessed individual, business leader and professional lender"

US Mortgages
6855 S Havana St Ste 520
Centennial CO 80112
720-524-8020
NMLS#392126
Equal Housing Lender

*photos used may come from my personal pictures or www.freedigitalphotos.net

 

Comments(7)

Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi David - Thanks as always for the update - you make us sound smart to our clients :)

Oct 01, 2015 11:09 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing this mortgage market snapshot.

I hope you are enjoying a most productive week.

Oct 01, 2015 11:25 AM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Thanks for keeping us all up to date. 

I hope you have a great Friday. We are all preparing for our big Applefest here in Cedaredge. 

Oct 01, 2015 12:54 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

David

I look forward to your mortgage market snapshot tomorrow.

Good luck and success.

Lou Ludwig

Oct 01, 2015 01:44 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning David. Great job with your snapshot. You are seeing the market very well. Had to lock in a bunch of loans over the last few says, all the clients did very well.

Oct 01, 2015 07:50 PM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Top of the morning.  Reading your market report makes me feel like I am reading one of those cheater pamphlets for a book report.  Perfect.  Thanks for the excellent info.  Mark

Oct 01, 2015 09:02 PM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, David...I'm stopping by to wish you a great weekend ahead. 

Oct 02, 2015 06:16 AM