Mortgage Market Snapshot 07.14.16

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

Today did not bring about the rapid fire sell off that could have occurred from very strong jobs report numbers yesterday and todays PPI report.

However they did bring a slight correction to the high levels in the bonds from last week and now have us looking at support levels appx 50bps lower than last week.

Currently the FNMA 3.0 coupon is sitting at 103.625 showing support at 103.50 and resistance at 104.

What does this mean?

Simple - the rates have pricing affected by appx .375 - .5 higher to achieve the exact same deal you could have gotten last week  but in the grand scheme it really is insignificant as the rate you can access is likely the same to "at worst" .125% higher to offset the cost.

With rates at 50yr lows NOW is the time to buy a new home or refi and save money on the one you already have!

Here is todays market data...

The UST 10-Year yield is at 1.530% this morning after closing at 1.470% yesterday. The Final Demand Producer Price Index for June was released this morning, reflecting an increase of 0.50%. The price index for Final Demand Services rose 0.40%, and the price index for Final Demand Goods advanced 0.80%. Initial jobless claims came in flat this morning, reporting that the amount of Americans who applied for unemployment benefits last week remained at 254k, further proof that the US labor market continues to remain strong despite a slower pace of hiring in 2016.

US Mortgages Colorados FHA VA Manual underwrite leader

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

 

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

Hi David - Thanks for the update and analysis. The market just doesn't seem very volatile right now, and waiting for something bigger to react to. Let's hope we can avoid that for a bit longer.

Jul 14, 2016 05:46 AM #1
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

David

Thank you for sharing the 7-14-16 Mortgage snapshot.

Good luck and success.

Lou Ludwig

Jul 14, 2016 11:23 AM #2
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

The rates have been incredibly low and buyers are loving it. I know it is working your lenders to death with long hours and putting in weekend time.

Jul 20, 2016 10:53 AM #3
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, David Shamansky ...I'm missing your posts. Hope you are having a wonderful fall. Grace us again soon with something you've written. 

Oct 23, 2016 11:44 AM #4
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Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Just dropping by to see if you've posted anything recently.  Have a great 2017.

Jan 20, 2017 12:02 PM #5
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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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