Dec 5th 2015 MARKET UPDATE

MBS are up +3/32 (FNMA 30-yr 3.5 at 103.06), around 7/32 lower than yesterday at this time. Unfavorable repricing took place yesterday. Early investors may have priced at lower levels.

It has been an interesting morning. Following the release of the Employment data, MBS prices dropped to a low of -8/32 and then quickly recovered. Against a consensus forecast of 190K, the economy added 211K jobs in November. Upward revisions to prior months added another 35K. The Unemployment Rate remained at 5.0%, as expected. Average Hourly Earnings, a proxy for wage growth, also matched expectations and were 2.3% higher than a year ago. The solid labor market data made investors nearly certain that the Fed will hike rates at the next meeting on December 16. Separately, the October Trade Deficit was larger than expected. The Dow is up 150 points. No more economic data will be released today.


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).

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