• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Better Rate Mortgage

Better Rate Mortgage. Open The Door To More.

phone
address
start
  • Buyer Learning Center
  • PREAPPROVAL
    • First Time Home Buyer
    • START HERE
  • FHA
    • Low Down Payment
    • FHA Streamline Refinance
    • FHA 203B
    • FHA 203K
    • USDA
  • VA
  • Conventional
    • HomeReady
    • Home Possible
    • Homestyle Renovation Mortgage
    • Refinance
    • Debt Consolidation Loan
    • Adjustable-Rate Mortgage
    • Reverse Mortgage
  • Jumbo
  • Calculator
  • Rates
  • News
    • Published Articles
  • Team
    • Better Rate Mortgage
    • Job Opportunities
    • Realtor Partners
  • Contact Us
You are here: Home / Blog / The China Cat Bounce

The China Cat Bounce

August 11, 2015 by Sean Zalmanoff

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.

8 11 15 mortgage rates

Filed Under: Blog

Footer

Sean Zalmanoff: Better Rate Mortgage

1118 Hampton Ave
St. Louis, MO 63139
(314) 361-9979

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

usa-mortgage-five-star

Copyright © 2022 · Sean Zalmanoff: Better Rate Mortgage · Log in
1118 Hampton, St. Louis, MO 63139
Gordon Barnhart NMLS: 554310, MO: 4021-MLO, KS: LO.0030115, IL:031.0038789, CA: CA-DB0554310.
Derek Jackson NMLS: 1257690, MO: 10597-MLO.
Christen Cullman NMLS: 1629560, Missouri.
Sean Zalmanoff NMLS: 239823 MO:70-MLO

equal-housing

California, Illinois, Kansas, Missouri Residential Mortgage Licensee, Company NMLS 22762

  • Privacy Policy
  • Buyer Learning Center