Mortgage Rates 8/31/15: Mortgage Backed Securities are stuck between the 100 and 200 DMA; the 200 DMA has been very hard to stay above as you can see by the numerous turn backs the past few weeks. The 100 DMA has recently been a pretty strong floor of support, so who is going to win? Well, we have a lot of data this week starting with the Chicago PMI that was a tad weak which caused bonds to sell off a little and stocks to rally some off their lows. Manufacturing, ADP and Jobless claims all follow this week. As shown by the weak data this am the bond markets want a rate hike, they will improve on it and rates will get a little to a fair amount better. This is counterintuitive to everything that my economics classes taught me, but this is how the trade is working now. So, if we see strong data this week that would give the Feds what they need to hike, rates should get better!
Archives for August 2015
Sanitize Your Fire
Watch the latest video from the Sean Z Team at USA Mortgage for St. Louis events, the tip of the week and your chance to win the next Visa gift card drawing. Click here for more info and event links. https://www.youtube.com/watch?v=glbGsqMz9sg
FED Statement to the rescue
Get Unplugged
Watch the latest video from The Sean Z Team at USA Mortgage for St. Louis events and your tip of the week. Make sure you comment to win the Visa gift card that is being given away in next week’s video! Click here for more info and event links: https://www.youtube.com/watch?v=yI612lDgIaU
The China Cat Bounce
Mortgage Rates 8/11/2015
Big News today, China has devalued their currency 2%. 2% doesn’t seem like much, but a 2% drop in the DOW in would be almost 600 points so this is a huge move for just one day. China has been trying to move to a service economy and it is not faring well in the short term. This devaluation makes their goods cheaper and ours more expensive and has caused a selloff in our stock market and a rally in bonds, thus benefiting rates this morning.
The technical picture is interesting as Mortgage Backed Securities, MBS, are trading in a wide range and right above the 100 DMA and close to the 200 DMA, those are both very tough resistance levels. We are cautiously floating this morning, but the last time we hit these levels MBS sold off quickly.
Free Money AND a Gift Card Giveaway
Want to learn about free money you can claim? Want to win a Visa gift card? Watch the video from the Sean Z Team at USA Mortgage for that and more. Sean and Gordon have information about peach picking at Eckert’s in Belleville and Fred Bird’s appearance, Grub and Groove in Francis Park, the 49th Annual Jour de Fete in St. Genevieve and Ferguson Rocks at the Ready room. Did you know that you might have free, unclaimed money? Use the links below to for more information on that and the above mentioned events. Make sure to comment on this video on Facebook or YouTube so you’re entered to win a Visa gift card. Give us a call for your buying and refinancing needs. The Sean Z Team at USA Mortgage, 314-361-9979, seanzmortgage.com.
Helpful Links: http://bit.ly/1Ioe4cp, http://bit.ly/1svomlW, http://bit.ly/1HtsjJ5, http://bit.ly/1M83l8t, http://1.usa.gov/1M88ai1
Watch and Comment on YouTube: https://www.youtube.com/watch?v=rdea52MFjns
Sharks and Cows Oh My!
The Sean Z Team is back with this week’s events, tip of the week and your chance to win a Visa gift card. Watch the video for details: https://www.youtube.com/watch?v=c5HygnkQQ8c