John Sauro speaks with Kathleen Hays on Bloomberg.
Click below to listen to John and Kathleen discuss the new laws and the impact it will have on the finance industry and consumer mortgage’s. https://www.northatlanticmortgage.com/featured_news.htm
Mortgage Bonds broke through a tough ceiling of resistance yesterday and moved higher this morning due to weakness in stocks only to give back most of their gains as stocks recovered. Due to better than expected economic reports.
Second Quarter GDP reported the economy slowed to 2.4% annually, slightly lower than the expected 2.5%. The Chicago Purchasing Managers Index came in at 62.3, better than expectations of 56.3 and consumer sentiment came in at 67.8, a bit better than expected.
Another week of massive Bond Supply. The Treasury auctioned $104B in securities. This is important to note as bond prices broke through a tough ceiling of resistance in the face of overwhelming supply. We all better hold on tight when this starts to unwind.
We continue to recommend locking into rates and not risking loosing a
historical good deal.
Remember, Higher Mortgage Bond prices mean lower mortgage rates.
Fannie Mae 4.0% Bond: 102.41 +9BP