Market Update 6/10/2016

MBS are up +4/32 (FNMA 30-yr 3.0 at 102.26), around 2/32 higher than yesterday at this time.

A decline in stocks has helped MBS this morning. The Dow is down 100 points.

The monthly rollover took place overnight for FNMA and FHLMC 30-yr securities. The current coupon switched from the June to the July contract. If you are tracking daily MBS price movements, July MBS prices reflected a drop of about -8/32 from June. This change is priced in over the course of the month, so the impact on mortgage rates on the day of the rollover is generally no greater than on any other day of the month.

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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