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Mortgage interest rate up date | 🏡 2nd Chance Home Loan Program

Mortgage and Lending with Nexa Mortgage, NMLS #1660690 NMLS 217454

Mortgage Interest rate update for Dallas Texas October 26, 2018.   Current Mortgage Rate Trend Direction:  Modestly higher

Advise for Clients for mortgage rate lock: Continue floating as Stocks endure pain, for now

Disappointing earnings from Google and Amazon are pushing Stocks lower again this morning while giving Bonds a boost higher.

Today’s drop in Stocks comes after yesterday’s 400-point gain for the Dow as the extreme volatility continues in the equity markets.

The first read on Q3 GDP rose 3.5% versus the 3.3% though down from the 4.2% seen in Q2 – but still very strong – leaving the year over year rate at 3.00%. So, the U.S. economy is running above “ideal” levels.  Within the report, it revealed that consumer spending rose 4%, the strongest since the fourth quarter of 2014. Inflation measures within GDP declined. The PCE price index rose 1.6%, down from 2% in Q2. There was a slowdown in business and residential investments.

The Fed will have to take the lower inflation into account when making interest policy in the coming months.  The Fed’s favorite inflation gauge, the annual Core PCE (2%), will be released Monday.

The yield on the 10-year T Note has declined to 3.08% from yesterday’s close of 3.13% and below support at 3.12% for now.

Technically, the Bond is comfortably above support at $100. Advise floating but be aware that sentiment can quickly turn negative in this volatile environment.

Second Chance Home Loan Program

•10% Down Payment options
•No Minimum Credit Score
•Bankruptcy, Foreclosure And Short Sales Are Ok
•Deferred Maintenance Is Acceptable On Purchases
•Up To 7% Seller Help Allowed
•Gift Funds Are Acceptable
•May Consider 1st Time Homebuyer With Larger Down Payment

Get prequalified now at www.MortgageProsUs.com

Richard Woodward, NMLS 217454
Your Local, Direct, 5 Star Rated Mortgage Lender, Specialty Lending Manager
Office: (214) 945-1066
Service First Mortgage NMLS 166487
6800 Weiskopf Ave #200, McKinney, TX 75070

Licensed by the Texas Department of Savings and Mortgage Lending (SML) Mortgage Banker Registration. Service First Mortgage is an Equal Housing Lender. This is not an offer of credit or commitment to lend. Loans are subject to buyer and property qualification. Rates and fees are subject to change without notice. The views expressed on this site are those of the individual author and do not necessarily reflect the positions, strategies or opinions of Service First Mortgage or its affiliates.

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