Market Update 7/7/2016

MBS are down -2/32 (FNMA 30-yr 3.0 at 104.02), around 5/32 lower than yesterday at this time. Some unfavorable repricing was seen yesterday.

This morning, the ADP estimate for private sector job gains in June was 172K, above the consensus of 150K. Weekly Jobless Claims fell to 254K, below the consensus of 265K. Today’s stronger than expected labor market data suggests that the disappointing Employment report for May is unlikely to be followed by similarly weak reports in coming months. The Dow is up 50 points. No more economic data will be released today. The key Employment report will come out tomorrow.

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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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