Market Update 10/20/2016

MBS are up +1/32 (FNMA 30-yr 3.0 at 103.13), around 5/32 higher than yesterday at this time.

The European Central Bank (ECB) meeting held no surprises and caused little reaction. The ECB made no change in rates or in its bond purchase program. ECB President Draghi suggested that the ECB will decide at its next meeting on December 8 whether to extend the bond purchase program which is currently set to conclude in March. In the U.S., weekly Jobless Claims rose to 260K, above the consensus of 250K. The Dow is up 10 points. Philly Fed and Existing Home Sales will be released at 10:00 et.

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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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