Market Update 12/3/2015

LOCK IN NOW BEFORE RATES GO UP.  Fed NEWS yesterday was positive towards a Dec rate hike and the ECB is also effecting rates Domestically:

MBS are down -8/32 (FNMA 30-yr 3.5 at 103.13), around 10/32 lower than yesterday at this time. Early investors may have priced at higher levels.

This morning, the European Central Bank (ECB) announced additional stimulus measures, but the package was smaller than expected. The ECB cut rates and will extend its bond purchase program until at least March 2017 (from its original end date of September 2016), but the quantity of monthly purchases will remain at $60 billion euros. Investors were looking for a large expansion of this figure. The smaller than expected package means less added demand for bonds, and bond yields around the world moved higher on the news. The Dow is down 40 points. ISM Services and Factory Orders will be released at 10:00 et. Fed Chair Yellen will be testifying before Congress at 10:00 et as well.

Advertisements

About The Mortgage Update

I am a resident of St Charles Illinois and have been in the Mortgage Industry for 24 Years. I am also be heard on WYLL 1160 AM Chhristian Radio "The Mortgage Update with Terry & Dan". With relationships with the our Countries biggest lenders, it allows me to help you find the PERFECT Mortgage for your situation. From getting Pre-Approved to purchase your first home to helping you Qualify under wth NEW HARP 2.0 Guidelines (see HARP 2.0 tab).

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: