Mortgage Market Snapshot 12.4.15

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

Today brings us yet another mixed bag of news and one that the market has rallied some to retrace some of the earlier weeks losses.

With non farm payrolls improved over expectations by 11k (which is good) and helps support a "possible" fed rate hike later this month (that I am still betting will NOT happen) but the offset was the trade deficit grew yet again by over 3B.

Based on today's news the very oversold treasuries retraced losses and now the FNMA 3.0 is back up over 100 and currently sitting at 100.156

I don't think it will close much over 100 and should remain close to current levels throughout rest of the day.

For those wise enough to listen to me and held off on locking you likely regained appx 1/2% from earlier weeks lows. My advice today is, if you waited, to LOCK now.

Here is today's news and have a great weekend

Nonfarm Payrolls for November came in above expectations with a solid upward revision to October’s release. November Nonfarm Payrolls grew 211K (consensus 200K), and October was revised up from 271K to 298K. The Unemployment Rate held at 5.00% MoM. Average Hourly Earnings rose 0.20% in November, and Earnings are up 2.30% YoY vs. 2.50% prior. The Labor Force Participation Rate edged up to 62.50% vs. 62.40%. The October trade deficit increased to $43.89 B from $40.81 B in September. This morning’s strong payrolls report coupled with the Fed’s desire to raise rates points to a likely hike this December. Treasuries initially dipped following the payrolls release and have been continuing to recover this morning. The curve has flattened with 2s10s

US Mortgage Colorados own and 580 FICO OK Lender

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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
Equal Housing Lender

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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

David Shamansky 

Always helpful to have your perspective on the market. It should be an interesting month.

Hope you had a wonderful holiday with your family!


Dec 04, 2015 01:37 AM #1
Anna Banana Kruchten Broker, CRB, CRS
HomeSmart Real Estate BR030809000 - Phoenix, AZ

David I highly doubt rate will be going up......have a great weekend!

Dec 04, 2015 02:08 AM #2
DEANNA EARLY - - ( NMLS # 268590 )
American National Bank & Trust - Smith Mountain Lake, VA
Highest Ranked Mortgage Loan Originator Virginia

I hope they raise the rate just to stop all the media hoopla David Shamansky once the initial coverage of the increase dies down.

Dec 06, 2015 06:02 PM #3
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David Shamansky

Creative, Aggressive & 560 FICO - OK, Colorado Mtg
560FICO and High DTI are among some of what we say Yes to
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