Market Update 7/21/2016

MBS are down -4/32 (FNMA 30-yr 3.0 at 103.15), around 5/32 lower than yesterday at this time.

This morning, the European Central Bank (ECB) made no change in monetary policy. Some investors had hoped for additional stimulus to ease the effects of Brexit. In addition, a Bank of Japan officials downplayed the need for an extreme stimulus measure. Investors lowered their expectations for looser monetary policy action in Europe and Japan, which was negative for MBS. The Dow is down 25 points. Existing Home Sales and Leading Indicators will be released at 10:00 et.

In the U.S., the Philly Fed regional manufacturing index declined to -2.9, below the consensus of 5.0. Weekly Jobless Claims fell to 253K, below the consensus of 265K.

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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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