Mortgage Reports

 

 

 

 

 

 

 

 

 

 

 

 

 

MORTGAGE RATE TRENDS~

Please note: article Links below are subject to changes by the host website.
 
Current Retail Discount Pricing:
30yr Fixed-rate: 4.1250% (4.25% APR)
6/19/2018 1:00 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.18%, even with yesterday, and coming off a brief high on 6/12/18 of 4.25%.  Stockholders are taking it in the shorts (unless one shorted stocks) as DOW continues its slide (down 287 pts today) to 24,700.  Investors are getting nervous over trade war talk between the U.S. and China.  The U.S. credit markets are favored here for the time being. 
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06/01/2018 2:00 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.16%, up  only .03% from yesterday, but will likely move higher as 10yr Treasury notes rose by .07%.  Solid job gains for May of 223,000 inspired stockholders (DOW up 219pts to 24,635), while mild wage gains of 2.7% kept U.S. credit markets content for now on inflation prospects.  Aiding this calm over inflation  is a rising value of the Dollar which aids in the descent of oil prices, now at 65/bl.
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FINANCIAL QUAKE ON EXIT PLANS (?)
05/29/2018 1:00 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.15%, down .06% from yesterday, wiping out May's climbing rates, as financial tremors are hitting Italian bond market.  Risk aversion is back, and suddenly sending the German 10yr bond back into negative territory not seen since 2012. Right now investors pay nearly .20% to buy a German 10yr note, as the return of principle is more important than the return on principle.  All this sounds scary but what the Italians are seeking is an opt-out of the EU like the Brits whix
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05/25/2018 1:00 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.21%, down .03% from yesterday, and 1/8% lower than 5/17 results,  as oil prices take a turn downward on oversupply while North Korean summit cancelation sends investors back to safety of U.S. credit markets.
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05/18/2018 1:00 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.32%, down .02% from yesterday's high not seen since 09/16/13, and 1/4% above April's average.  The U.S. credit markets still see rising commodity prices and wages as reason enough to foresee higher inflation, and with tons of Treasury debt to choose from, supply outstrips demand and pushes rates higher. 
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30yr Fixed-rate: 4.1250% (4.39% APR)
SOMETHING BURNING (?)
04/23/2018 10:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.21%, UP .07% from Friday,  the highest yield since 09/12/2013.  The U.S. credit markets have been busy sniffing for any signs of inflation and they smell it in rising wage expectations as the National Federation of Independent Business survey says  businesses plan to raise wages, and the response was highest since 2000.  Commodity prices are moving on up, which usually happens when oil prices jump to nearly $70/bl.
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4/05/2018 1:00 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.05%, up .03% from yesterday, in line with March's average, as the U.S. credit markets are quite calm compared with the roller coaster ride for stockholders (DOW ended at 24,505 up 240pts and 18.59% from a year ago). As usual for this time of the month, tomorrow's government job report could impact these mortgage rates if wage growth runs higher than expected.
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BUDGET BUSTER BANGS DOLLAR?
03/23/2018 1:00 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.07%,  up a slight .01% from yesterday, and up .09% from February average, as the U.S. credit markets fail to pull in stock investor cash while stocks take another fall.  The DOW lost 425pts today, down to 23,523,  and losing 5.7% on the week.  In days of old, record busting budget agreements like the one President Trump signed today would cause the credit markets anxiety since public debt crowds out  private sector debt (like these quasi-private mortgage backed securities), forcing rates higher.  After the Feds raised rates on Wednesday, that should have breathed life into the Dollar, but it's down .8% for the week and 3% from last year at this time.  This shrinking Dollar translates to higher costs to U.S. consumers, and first shows up in rising oil prices, now at $65/bl.  a 5.8% weekly increase.

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BEWARE THE IDES OF MARCH (?)

03/15/2018 10:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.01%,  down .02% from yesterday.  The U.S. credit markets have the look of calm, despite rumors circulating of a number of soothsayers predicting big changes that may ultimately involve the demise of central banks around the world.  The first stabbing may be just around the corner (4-18-18) as China and Russia prepare to roll out a new currency backed by gold—out of U.S. and European central bankers’ control.  Will the Dollar, back only by a promise to pay, survive the onslaught?  Will inflation strike as a result of a wounded Dollar? Will the U.S. counter with a Dollar backed by silver and/or gold?   Answers lie just beyond the Ides of March.
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03/09/2018 10:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.05%,  down .02% from yesterday, despite  this morning job report of a whopping 313,000 new jobs in February, largest in one and a half years.  Stocks reacted positively sending the DOW up 350pts on the news, but more buyers of stocks  should rob the credit markets and send rates higher. What gave the credit markets some relief is that wage growth remains moderate, up 2.6% from last February, compared with the 2.9% gain in January that stoked inflation fears.  Some analysts figure the aging baby-boomer retirement pace, where earnings get lowered, is partially responsible.
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03/02/2018 10:00 AM PST/
DEFICITS AND TRADE WARS, OH MY!
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.99%, down a slight .01% from yesterday, as this market has the look of a new normal.  From a trillion dollar estimate for Treasury borrowings this year, to a trade war that could push up prices and inflation,  this market sits roughly 1/2% higher in mortgage rates from the beginning of the year, but the credit markets have that Alfred E Neuman approach:  "What Me Worried?" over the last couple of weeks.
REVERSE ENGINEERING 101:
With baby-boomers looking to retire in record numbers, those with a good chunk of home equity can eliminate that mortgage payment and the income taxes required to pay the loan.  For instance, a $1500/mo. payment may well require  taxable income close to $2000/mo.  If the figure works out to be $500/mo. in taxes, that's $90,000 of tax relief over 15 years.  See your tax advisor on this and contact us for plan options that will beat the competition on rate and fees, including fixed-rate option.
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30yr Fixed-rate: 3.8750% (4.18% APR)
02/21/2018 10:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.00%, down .02% from yesterday, despite the mountain of U.S. Treasury debt coming. With the debt ceiling lifted,  The U.S. credit markets are going to be force-fed a whopping $441 billion in new debt this quarter,  with $258b coming thru the pike this week.  But why no impact as of yet on these auctions?  The Treasury is avoiding issuing long-term debt like 10yr Treasuries that compete with 30yr. mortgage-backed securities, and issuing short-term 2yr notes and under.  The test will come soon, though, when 7yr. notes get issued later this week.
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02/14/2018 9:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.97%, down .02% from Friday, but losing ground as the monitor above suggests, as Consumer Price Index rises higher than expected.  While year over year core prices rose by only 1.8%, prices in latest month rose .3% (annual pace of 3.6% if continued), the average over last 3 months was 2.9%  Woman's apparel jumped the highest in decades by 3.4% in one month, even though retail sales were lower.  Rent equivalent costs were up .3%from a month earlier.  The big mover in overall costs was energy, up a whopping 3% from last month, as a declining Dollar takes its toll.  
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02/09/2018 9:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.97%, down a slight .01% from yesterday's new high since 04/04/2014.  It was this time last week (see 02/02/18 report below) that rumblings began for both stocks and U.S. credit markets, but the aftershocks are still hitting stocks worldwide, as values in equities drop by some 10% since then.  With initial jobless claims coming in yesterday at a 45 year low, why is DOW down 310 pts today?  Who might be pulling the strings on all of this is certainly  subject matter for financial conspiracy theorists.
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02/05/2018 12:00 PM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.95%, up .03% from Friday at the start, but as the rate trend monitor above shows, the credit markets regained some lost ground soon after, while stockholders lost their composure.  With DOW down a whopping 1175 pts after losing 666pts on Friday,  all eyes will be on tomorrow's opening.  Ironically, stockholder fears of rising rates helped correct rate direction, since many swapped stocks for the safety of bonds and these mortgage-backed securities, pushing rates slightly lower from new demand.   Problem here is government will need $1 trillion in borrowing this year, so that' mucho supply to compete with and will likely put pressure on interest rates across the board.
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02/02/2018 8:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.92%, up .04% from yesterday,  .43% above December's average, and highest mark since 04/30/14.  Both stock and U.S. credit markets zeroed in on this AM employment report for December.  What most employees would cheer at, these markets frown, as wage growth hit highs not seen since 2009.  The flip side to the good news is that two-thirds of structural inflation is tied to wage growth, and inflation is the credit market's worst enemy as rates must rise to keep pace with it.  The DOW lost 326 pts on the news, figuring higher rates nibble away at profits.  Greenspan's words just the other day of a stock and bond market bubble are  likely ringing in the ears of investors today.
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01/31/2018 9:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.84%, lower by .02% from yesterday's 2018 high, but up .35% from December's average. With 10yr Treasuries hitting highs not seen since 2014, the U.S. credit markets await Fed Chairman Yellen departing words, and expecting more tightening in short term rates to fend off anticipated inflation vis a vis wages and new investments in the U.S. as a result of tax changes. The Employment Cost Index shows a 2.6% annual gain for 4th Q, but the markets will be taking special note of Friday's employment report on wage gains.
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01/19/2018 11:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.73%, up .02% from yesterday, 1/4% higher than December average,and highest since 03/21/2017,  as the Dollar continues to slide lower, down over 2% since the 9th, making any Dollar denominated debt like these mortgage-backed securities less attractive.  This paper backed by the so-called good faith of the U.S. government started to lose it's strength back in 1971 when Nixon took it off the gold standard and inflation began eating away at middle class wages, losing over 90% of the Dollar's purchasing power.  This has much to do with the growing income divide of the rich and middle class.   Insiders say there is much going on in the backrooms of the global financial powers on restructuring and it won't be business as usual printing up Dollars for much longer. 
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01/11/2018 11:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.62%, down a slight .01% from yesterday, but still a notable rise by 1/8% since the start of the year.  The U.S. credit markets absorbed 12b in 30yr notes yesterday and 20b in 10yr today, helping to push up the rate on these mortgage-backed securities.  While inflation is muted in import/export prices for December, the Dollar index is down .3% from the start of year which tends to push up commodity prices on anything traded in Dollars.  With oil futures  reaching $70/bl, the markets have a watchful eye on Consumer Price Index tomorrow.
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SOMETHIN' HAPPENIN' HERE?
01/02/2018 9:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.50%, even with the last trading day of 2017, and .19% lower from the opening day of 2017, this despite Wells Fargo's estimate of Treasury borrowing needs of a whopping $1 trillion for both 2018 & 2019. This would be twice the amount borrowed in 2017.  In days of old, this news would force these mortgage-backed rates (along with Treasury notes) up and away due to "crowding out" where supply outstripped demand.  Now in the alt-media world are tall stories of recovery of stolen green-backs and gold in the trillions, which would be put back into the U.S. Treasury Department, and eliminate the $21 trillion-dollar U.S. debt.  From the market's ho-hum reaction to Wells' estimate, maybe the global credit markets think there might be something to that storyline. 
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12/029/2017 9:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.50%, down a slight .01% from yesterday, and lower by .15% from last December's average, all despite record highs in stocks, where the DOW gained 25% year over year.  Gold bugs who tend to sniff out weaknesses in the Dollar (down nearly 10% from the beginning of the year) and pick up geopolitical noise only gained 2%.  Commodity prices via CRB index is almost the same as this time last so no inflation threat just yet.  However, wage hikes might be cause for credit market concerns going into the first Q of 2018, as two-thirds of inflation is tied to wages. 
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12/06/2017 9:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.45%, down .03% from yesterday, and keeping a pleasant lid on the cost to finance a home.  Despite a 3.3% increase in GDP for the 3rdQ,  wage costs were down .02% amid productivity gains. While not welcome news for wage earners,  for the credit markets, this is a good sign that inflation is not about to take off anytime soon.
Fannie Mae Loan limits are increasing for 2018 to $453,100 conforming and $649,750 for high balance loans.  With rates staying very low, home values up along with new loan limits, call or write today to see how this might benefit you.
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11/30/2017 9:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.47%, up a slight .01% from last month' average, as the credit market may as well be watching the grass grow, despite the excitement in  stock markets.  The Dow soared 331 points today to hit an all time high of 24,272.  First it was corporate earnings, then spiking consumer confidence, and now expectations of corporate tax cuts that improve profitability are all creating the longest streak of monthly gains in 22 years. How rates can remain this low defies conventional wisdom, other than the fact that the rest of the world sees U.S. rates as a bargain compared with world market rates, and continues a lively attraction.
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11/03/2017 9:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.46%, down a slight .01% from yesterday, and even with October's return, despite strong job gains of 261,000 last month.  At first glance, this number should have moved rates higher, except for the fact that September showed a sharp decline from the wreckage of the hurricanes.   Combined over 2 months, jobs gained an average of 139,000.  Analysts say next month will be a better indicator.
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10/25/2017 11:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.54%, up .05% from yesterday,  matching July's average, but up .17% from August rates, as the markets sense a new Fed  Reserve Chief coming to town, with finger on rate trigger.  Tax cuts are also giving the credit markets reason to believe future economic growth will come with inflation.
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10/06/2017 11:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.46%, up a slight .02% from yesterday, despite a jump of .5% in wage growth from a month
ago, rising 2.9% year-to-year  Everyone enjoys wage growth except looking through the eyes of the Fed and U.S. credit markets,  since wage growth makes up two thirds of overall inflation-creditors worst enemy.   But there are enough global investors buying into our credit markets when yields elsewhere are close to zero, the news gets a muted response and holds these rates at bay.
SPECIAL DISCOUNT PRICING:
30yr Fixed-rate: 3.50% (3.95% APR)
09/28/2017 11:00 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.45%, up .03%from yesterday, and .20% above the most recent low on 9-08-17, as the proposed tax plan gives a boost to stocks, pushing the S&P 500 to new highs, and leaving the U.S. credit markets slightly behind.
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30yr Fixed-rate: 3.50% (3.80% APR)
08/01/2017  9:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.50%, up a slight .01% from yesterday, but heading back to 3.49% as the day wears on,  beating July's average by .05%.  The primary gauge of inflation for the Fed, the Personal Consumption Index shows pretty benign activity, with core inflation up only 1.5% from last year, while wage growth and spending were meager in the report, stocks are heading to new highs on earnings (DOW nearing 22,000).  It is unusual for both stocks and the credit markets to have gains simultaneously, so something has to give.  Greenspan says rates must rise, so likely best to lock rate in to be on safe side.
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07/13/2017  9:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.55%, down .03% from yesterday, and .08% from 7/08/17, as the credit markets welcome Fed Chief Yellen's assessment on inflation, or the lack thereof.  Recently, rising prices stalled on most fronts, other than your meat and potato varieties, so Feds are wondering what's up with that.  The closely watched PCE is soft at 1.4%, down from 2.1% earlier in the year.
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30yr Fixed-rate: 3.50% (3.980% APR)
07/08/2017  11:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results:  3.63%, even with yesterday, but the hurt came on 7/03 when rates rose .11% from  the last workday in June, and up by .20% from June's average.  While it might seem slight, the equivalent in point fee increase is close to 1% of the loan amount, or $4000 on a $400,000 loan.  Most buyers like the "no closing cost option," so a  4th of July vacation without a lock will cost an extra 1/4% on the mortgage rate.
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30yr Fixed-rate: 3.50% (3.830% APR)
06/24/2017  11:40 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results:  3.41%, steady at this level all week and still 1/8% lower from last month's average before the Fed rate increase of 1/4%.  Try as they may, OPEC can't get it up even with major cutbacks in oil production as a barrel of oil sits at $43.   This low price was supposed to close down the oil shale business in the U.S. but analysts now say they still producing and profiting, offsetting OPEC cuts.  Considering OPEC once helped send inflation sky high back in the late 1970s and produced double-digit mortgage rates, the U.S. domestic oil market has helped keep a lid on inflation. and these mortgage rates.
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06/14/2017  11:40 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results:  3.44%,  down .02% from yesterday, and still improving per rate monitor--all this after Feds announce a 1/4% increase in Fed fund rate this A.M..   In days of old, this was a common movement within the long-term fixed rate market because it represented Fed resolve to keep inflation in check.  Since inflation erodes fixed-rate values, it is the worst enemy of the credit markets.
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06/02/2017  7:40 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results:  3.45%, down .02% from yesterday and improving as the day goes on per Rate Monitor above, as job growth along with wage growth turned up pretty tame.  2.5% average annual increase in hourly wages is a figure that the credit markets view as non-threatening inflation.  Coupled with just 138,000 new jobs in May, the credit markets don't see any urgency for the Feds to raise interest rates. Surprisingly stocks take the news of moderate growth as something to behold, and are headed to  new highs.  Does cheap energy stoke this market as oil drops to $47.77/bl and Trump takes shackles off production?
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06/01/2017  7:40 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results:  3.47%,  as June starts with stocks hitting new highs (DOW up 135 pts to 21,144) and these mortgage yields lower than any monthly average this year.  The real test will come tomorrow with May job report.  Any sign of wage inflation will put a damper on U.S. credit markets.
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30yr Fixed-rate: 3.50% (3.830% APR)
05/18/2017  7:27 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results:  3.43%, DOWN .16% from 48 hours ago, and 1/4% lower than April's average, as the media and the Hill attacks on President Trump take its toll on stocks sending DOW down 1.6% to 20,606 yesterday.
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05/04/2017  7:27 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.58%, up .04% from yesterday but still .08% lower than April's average, as the U.S. credit markets remain attractive to global investors seeking safety and better returns than commodities.  Oil, the lead commodity, took a fall as U.S. shale production is making up for OPEC cuts. 
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04/24/2017  7:27 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.58%, up .08% from Friday,  as the lows of Spring Break and Easter week have come and gone. The suspense over French elections and possible rupture of the EU has eased.
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30yr Fixed-rate: 3.650% (3.90% )APR
04/04/2017  7:27 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.58%, down .05% from yesterday, and lower by .15% from March average, as stocks dip slightly with slump in March auto sales and concern over speed of tax cuts that would stimulate more growth.  
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03/22/2017  7:27 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.67%, down .06% from yesterday, as stocks backpedal from recent highs watching slow motion Congress wrestle with Trump policies.
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03/17/2017  11:02 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.76%, even with yesterday,  but still lower by .12% since Tuesday and before Fed rate increase.  Why would long-term rates move lower after a rise in short-term rates?  In days of old, the markets looked at Fed tightening on short-term rates as a demonstration of Fed resolve to suppress inflation by taking a pre-emptive strike before it arrives. 
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03/15/2017  11:12 AM PST/
 A STRANGE CONCOCTION BREWING FOR THE IDES Of MARCH (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.84% at the start, and moving lower as the rate trend indicator above shows, as the long-term credit markets seem to embrace Fed 1/4% rate hike.  It is not often you see stocks and gold rise on the heels of a rate increase, and less often push long-term rates lower, but it is all happening at the moment.  The DOW is up 130pts to 20,968, while gold rises by $15/ounce.  The Dollar is supposed to rise when short-term rates go up, as global investors seek higher yields,  but it fell.
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30yr Fixed-rate: 3.50% (4.04% APR)
03/14/2017  7:12 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.88%, matching the high reached on 9/19/14, as Fed meeting begins and ends tomorrow with an expected rate increase.
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03/08/2017  7:12 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.79%,  UP .05% from yesterday, and still losing ground, as ADP reports a whopping 298,000 new private sector jobs in  February
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03/06/2017  7:12 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.72%, down .03% from Friday's recent high that matched the level of 01/26/17, as global investors turn their eyes to European politics where voters are turning up the heat against European Union control. It is easy to see the attraction of the U.S. credit markets where U.S. Dollar denominated debt beats European yields by a long shot. This AM, German 10yr notes are paying .33% while U.S. 10 year pays 2.47%.  Of course an investor could do even better buying these mortgage-backed securities at 3.72%. Even a rate increase by Feds next week on short-term rates hasn't put much of a damper on these long-term rates.  Friday is the main event with the U.S. government jobs report for February.
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03/02/2017  9:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.72%, up .04% from yesterday's start,  even with December's average but up .07% from February average, as stockholders jump on the Trump Express, and leave the U.S. credit markets behind.  The DOW surged 303 points to a new high yesterday of 21,115, apparently inspired by President Trump's speech In the House Chambers. The Personal Consumption Index shows core inflation fairly moderate at 1.7% annual increase, but it may be enough to induce the Fed to raise short term rates next month. 
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02/23/2017  9:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.64%, down a slight .01% from yesterday, as this market oscillates up and down in a small range, staying close to January's average of 3.65%.  The Dollar moved lower while gold jumped 1% to $1249/ounce as traders think the Fed is sheepish about raising short term rates.  Meanwhile the DOW posted a new record yesterday of 20,775 and is 39pts higher today as housing resale data shows strength and CEO meeting with Trump has them singing praises.
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02/08/2017  8:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.60%, down .05% from yesterday (improving by the minute as the monitor above shows), and 1/8% lower than December's average, as the global markets enjoy certainty but see little of that now.  The Establishment is what it is and appears reluctant to embrace Trump's tax cuts while the  EU contemplates a break up with France  now leaning to an exit and Greece back in news with rising debt woes. Yet, all the while, economists see a free and independent Great Britain leading in GDP future growth.
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02/03/2017  9:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.70%, up a slight .02% from yesterday, and .05% higher than January's average,  despite a stronger than expected government employment report.  While stocks cheer the 237,000 new private jobs (DOW back over 20,000 and up 177pts for the day), credit markets don't fret because wage growth came in weak at .1% from last month, and up 2.5% on an annual basis.  Inflation gets embedded in wages, but this no threat just yet.
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01/25/2017  9:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.70%, up .04% from yesterday, as upbeat corporate earnings and Trump pledge to lower corporate tax and regulations pushes the DOW above 20,000.
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01/23/2017  7:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.68%, down .05% from Friday's results, and lower by the same for December's average, as the credit markets gain from stock retreat from worries over Trump trade policies.
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01/18/2017  2:14PM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.59%, even with yesterday until Fed Chair Yellen said something many already knew:  the economy is “close” to the central bank’s objectives and she’s confident it will continue to improve.
The monitor indicates about 1/8% increase from the morning, or .66 points higher.
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01/12/2017  10:14AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.54%, down .06% from yesterday, and lower by .18% from December's average,  as investors grow skittish in bank stocks and putting some of their chips into the U.S. credit markets, and awaiting 3 major bank earnings reports on Friday.  A quick look at rate levels a year ago (go to bottom of these reports) says that rate increases lately are no big deal for the home purchase market, and maximum loan increases are now in place to make up for higher home prices now.
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30yr Fixed-rate: 3.625% (3.80% APR)
01/06/2016 8:14AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.63%, up .01% from yesterday, but still lower than December's average by .10%.  The NFIB announced this A.M. that their survey of small business optimism soared again in December, highest reading since 1980 ! Stockholders embraced the news as the DOW up to 19,899.
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30yr Fixed-rate: 3.625% (3.77% APR)
01/06/2016 8:14AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.56%, down .10% from yesterday's start, but that was before the government employment report showed wage gains of 2.9% from a year ago,  a 7 year high.  This likely will usher in Fed rate increase by March.
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01/03/2016 8:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.69%, up only .01% from last trading day of 2017, despite a glowing report from the ISM manufacturing sector on December production and enthusiasm for 2017.  The DOW is up 31 pts to 19,793 while the Dollar streaks to a 14 year high on the news.  Exporters didn't feel the hit from a higher Dollar as December's report showed exports are up to a 2.5 year high.
LOCK IN ADVICE: Rates certainly will have a tough time moving lower on this news.
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12/30/2016 8:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.68%, down .03% from yesterday, and lower by .12% from the start of the week,  as the U.S. credit markets get an end of the year gift  from who knows what.  Strange things are happening in the geo-political front that might be the reason for the sudden draw to the safety of the U.S. credit markets. Could the  expulsion of Russian diplomats along with UN vote against Israel be the reason for the downward shift in these yields, or simply last minute window dressing by institutional money managers for their year-end reports?
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12/27/2016 8:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.80%, up .04% from last trading day of the 23rd, as stocks look to DOW 20,000, which is within striking distance by 42pts.  Investors are plugging in what lower tax rates, less regulation, and higher infrastructure  spending will do to their bottom line in 2017 and like what they see.  What's up Trump's sleeve is likely a revenue neutral spending plan  stretched over the years where corporate profits abroad will be taxed at a lower rate, creating greater tax revenue overall. Lower energy costs from greater domestic production will be an added attraction for foreign companies to relocate production here where their main market is.  With higher growth prospects comes higher inflation so these rates will likely rise to the occasion in 2017.  Job growth, being the bottom line support for both residential and commercial real estate, should buoy values going forward.
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12/22/2016 8:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.77%, down .02% from the last 2 days of trading, and only 1/4% higher than this time last year, as the Personal Consumption Index, most favored inflation measure, showed prices rose only 1.6% from a year ago. The report also showed Christmas stockings may not be overflowing, as consumer spending hit the skids and net wages are lower.  This kept the rosy red cheeks of stockholders  back from attempts to hit DOW 20,000.  Some consumers chose instead to buy condos for Christmas, as condo resales nationwide jump 10% from October, though detached fell back by .4%. Thin inventory helped push prices overall 6.8% higher than last year.  
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30yr Fixed-rate: 3.625% (3.93% APR)
12/19/2016 7:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.80%, down a slight .01% from Friday, and improving at the moment, as all markets hold steady ahead of official electoral vote count for Trump today.
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30yr Fixed-rate: 3.625% (3.95% APR)
12/15/2016 1:11 PM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.83% UP .17% from yesterday morning,  rising rapidly in the aftermath of Fed announcement (see below). Today's rate matches the results on  9/23/2014, and similar to  the months preceding in 2014.
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12/14/2016 1:11 PM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.66% at the start, but as the above monitor shows, results are higher after Fed announcement.  It was not the expected 1/4% increase announced that shook the credit markets, but Fed words that more to come due to tightening labor market and higher inflation expectations. 
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12/13/2016 7:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.65%, down .07% from yesterday's run up, despite NFIB report on small business sentiment which leaped to highest level since 2009.  Both U.S. stocks and credit markets remain a magnet to global investors, which explains why both can improve simultaneously as the DOW rose to a record high of 19,796 yesterday and currently higher this A.M.
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12/05/2016 7:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.64%, down slightly from Friday, as the Italian vote on referendum does not implode the Euro as pundits suggested.  Nationalism is on the rise that may eventually break up the EU, but investors are realizing these countries are not disappearing as these economic engines will remain, but will run on their own power and control.
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12/02/2016 7:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.65%, even with yesterday, but improving per rate indicator above, as employment report shows moderate increase in job growth at 178,000, but manufacturing lost 4,000.  Wages actually decreased which is probably why the rate indicator direction is positive as inflation fears fall back.
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11/30/2016 7:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.57%, even with yesterday at the opening, but getting worse by the minute as OPEC agrees with cutting production,  sending oil prices up 8% to $50/bl  after these mortgage auctions started.  While production cuts hammered the U.S. back in the late 70s with inflation and huge jumps in interest rates, U.S. producers will rev up production and help offset this negative effect.  No doubt Trump in 2017 will open up the spigot on Federal controlled land as low energy prices are part of his economic recovery plan.
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30yr Fixed-rate: 3.50% (3.72% APR)
11/24/2016 7:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.57%, down .03% from yesterday, and  down .08% from Black Friday's high of the year, as oil prices decline on the heels of OPEC and Russia inability to fix volume.  Revised 3rd Q GDP came in at  a healthy 3.2% increase, but inflation stayed low at 1.4%.  Consumer confidence leaped after the elections, posting largest jump since July 2007, one month before the mortgage meltdown.
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30yr Fixed-rate: 3.50% (3.80% APR)
11/24/2016 7:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.65%, UP .09% from Wednesday, highest since 7-16-2015, as the credit markets see not once, but twice on Fedrate increases in next 6 months.  The enthusiasm stockholders  now have over Trump victory (DOW up 30pts to 19,133) is putting frowns on bondholders as the credit markets continue to lose ground.
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30yr Fixed-rate: 3.50% (3.70% APR)
11/23/2016 8:11 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.56%, up .03% from yesterday morn, and getting worse by the hour as the rate monitor shows, as DOW breeches record high at 19,051, pulling investors back into stocks and out of the credit market.  A mark of confidence is showing up in Durable Goods orders where capital goods purchases by business was up .4%.  Applications nationwide for home purchases jumped 19% in latest week, indicating buyers not sitting around for the holidays.
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11/21/2016 7:41 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.55%, UP .07% from Friday's opening, reflecting the damage done that day to U.S. credit markets.  With wage growth up 2.8%, the credit markets are figuring inflation is in the works and Feds will raise rates this December.
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30yr Fixed-rate: 3.50% (3.65% APR)
11/18/2016 2:09 PM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.48% to start the day, but the monitor above shows it ended even worse, rising sharply higher.
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30yr Fixed-rate: 3.50% (3.65% APR)
11/17/2016 7:09 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.41%, down .08% from yesterday's start, despite surge in SFR new home starts ,up 21% from September here in the West, as builders plant their construction flags with confidence for 2017 sales.
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30yr Fixed-rate: 3.625% (3.76% APR)
11/16/2016 7:0-1 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.49%, up .03%
from yesterday morn,  highest since 01/05/2016.  In early January, the DOW sat at 16,986 at this rate level, and is now 11% higher today at 18,862.  Both the Brexit and Trump election fears are now putting smiles on stockholders.  Even savers will get a break as Feds look determined to raise rates by year end.  Home buyers of late here in San Diego have seen values rise 11% in October from a year ago so it's a win-win for all except those that did not lock their rate in.  Mesa Pacific always locks borrowers'  rates in before charging  appraisal fees to avoid what just happened this month.
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11/15/2016 7:14 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.46%, up .03% from yesterday morning, but improving for the moment, as the credit markets remain nervous over inflation prospects with a Trump tax plan to invigorate the economy.  Borrowers not locked in will be stunned to find fixed-rates up 1/2% since October's wholesale closing average of 2.97%
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30yr Fixed-rate: 3.375% (3.69% APR)
11/14/2016 7:14 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.43%, UP .13% from last Thursday and getting worse by the minute (see rate monitor above),  as the very bottom of rates have come and gone.  Nevertheless, rates are still relatively low, rummaging around January levels. 
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30yr Fixed-rate: 3.375% (3.60% APR)
11/10/2016 7:14 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.30%, UP .17% from yesterday morn, as investors switch horses on Trump victory and come out of the gates on greater growth prospects.  The DOW is hitting record highs suddenly, as investors had wondered what was all the gloom was about.  But with growth comes inflation, so the credit markets back away from these record low rates.
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30yr Fixed-rate: 3.25% (3.55% APR)
11/09/2016 7:14 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.13%, up .09% from yesterday, as pundits guess wrong on rate direction with Trump victory.  Analysts figured things would go the direction of Brit exit, but such is not the case this A.M. and meter shows rate pressures continues.
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11/07/2016 9:14 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.04% up .01% from Friday, and losing a bit more into the morning, as stocks rise ahead of tomorrow's election with DOW at 18,259.
Former Fed Chief Alan Greenspan says rates have only one direction from here due to rising inflationary pressures.  He sees these rates  can go back to 5%.
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10/31/2016 7:44 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.04%, down a slight .01% from Friday, as oil prices slump, giving U.S. credit markets some support.  Investors don't know which way to jump with the U.S. elections right around the corner. While many prefer the status quo Establishment because that is what the media tells them, others prefer to sit on the fence away from the political bombshells falling.
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10/12/2016 02:15 PM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.00%, up .02% from yesterday, and .10% higher than September's average, as September Fed meeting notes reveal they on the edge of raising rates "relatively soon." 
RATE LOCK ADVICE: The trend monitor shows pressure remains on rates, so a lock would be a safe thing to do,  but it is doubtful the Fed's will take action before the Presidential elections.
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09/29/2016 02:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.86%, up .01% from yesterday, but  improving as worries over a Deutsche Bank problem gets stockholder attention.
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09/27/2016 12:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.84%, down .04% from yesterday, and lower than July and August average by .02%,  as pundits wrestle with debate results and effect on stock and bond markets.  The DOW rose 188pts today to 18,228 as the big boys on wall street wave their Hillary banners, thankful no pratfalls.  But that does not explain why rates went down, which move lower when fear/uncertainty rises.  Go figure.
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09/22/2016 10:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.92%, down .04% from yesterday morning, as Feds say no rate increase now, but maybe by year's end (after elections).
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09/21/2016 10:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.96%, even with yesterday, as the markets await Fed decision today.
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09/19/2016 10:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.95%, up .02% from Friday, and .09% higher than July-August average rates,  as the markets await results of Fed meeting this week.
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09/16/2016 10:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.93%, even with yesterday, despite a surprise uptick in the CPI index showing inflation in core prices up 2.2% from last year.  It may not be any surprise that healthcare costs led the increase.
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09/14/2016 10:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.96%, up .03% from yesterday morning, but improving per rate monitor above, as stocks first rise then sink (DOW at 18,046), unsure about Fed decision coming next week. The volatility in stocks called the fear index  mimic the  days before and after the JFK assassination, says analysts.
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09/12/2016 9:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.96% up. 05%
from Friday morn, highest since 6/27/2016,  as both stock and credit markets are getting queasy over possible Fed rate increases. The DOW sunk to 18,085 on Friday, nearly 400pts from Thursday, but now crawling back by 100pts.   
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09/09/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.91% up. 08%
from yesterday morn, as Fed official says rate increase needed. Fed Bank of Boston President Eric Rosengren’s comments along with European sentiment that negative rates hurt the market woke up the U.S. credit markets from a Summer slumber.
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09/06/2016 9:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.90% at the start and before the ISM services report  showed a plunge not seen since 2010.  Yes, the DOW is up on the news which used to be an ironic move, but now investors in stocks see no rate increase ahead with this lousy news (go figure). As the monitor above suggests, rates moving lower on the news.
______________________________
09/02/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.89%, even with yesterday as the credit markets take off for Labor Day Weekend seeing no threat in the jobs report released this AM.  155,000 new jobs were reported last month,  hardly a continuation of July's jump of 275,000.  Nearly 10% of the work force are underemployed, so it is likely the Feds see this slack labor demand reflecting the slow growth mode witnessed all year with little risk of inflation wage growth.
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08/31/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.90%, up .02% from yesterday, despite DOW moving lower by 41pts to 18412, as the credit markets look toward Friday for government jobs report. 
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08/26/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.88%, up a slight .01% from yesterday, despite Fed Chief Yellen statement that rate hike looks more likely in September.  DOW up 108pts to 18,557, despite revision on anemic 2ndQ GDP growth to 1.1% from prior estimate of 1.2%
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08/22/2016 8:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.89%, up .03% from Friday morn.
___________________________________
08/018/2016 8:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.86%, down .02% from yesterday morn, as Feds keep their hands off interest rate lever.  But there are those who see rates rising, and faster than one might believe, given the pace of this market over the years.
____________________________________
08/015/2016 8:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.83%, down slightly by .01% from Friday,  as Friday's data along with maunfacture report of contraction keeps these rates at bay.
_____________________________________
08/012/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.84% at the opening, but improving from stockholder disappointment that retail sales in July were flat.  Excluding car sales, where they never say no to extending credit, sales declined .3%, the most since the start of the year.  10yr treasuries dropped .07% on the news, so these mortgage-backed securities should follow.
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08/011/2016 9:50 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.82% at the start, down .02% from yesterday and retreating back to levels before Friday's employment report.  However, stocks are currently riding higher (DOW up 128 pts. to 18,264) putting some pressure on interest rates as the rate monitor indicates.  One of the stocks sending markets higher is Macy's profit for 2nd Q, yet it is closing 100 stores!
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08/08/2016 9:56 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.87%, .06% higher than Friday's start, representing the impact of the suprisingly higher employment released Friday AM (see below).
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08/05/2016 7:56 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.81%  at the open, but losing ground after jobs report shows some 255,000 gains for July.  Stockholders cheer the news, with DOW rising 191pts to 18,543.  Consumer spending is carrying the U.S. economy on its back as business investment spending wanes and corporate 2ndQ earnings are actually down 3.5% on average from last year.  How does this jive with an impressive job's report of 548,000 new jobs in last 2 months? Government head counts on new jobs get revised over and over again and election season is upon us.
_______________________________________
08/02/2016 6:56 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.85%, up .04% from yesterday as yields world wide in government bonds appear to have bottomed out.  Yes, one still pays to own a Japanese or German 10yr note, just not so much as yesterday, helping to raise rates slightly here in the U.S. where it still pays to own a 10yr treasury and these mortgage-backed securities.
RATE LOCK ADVICE:
There is always apprehension ahead of the employment report scheduled for release this Friday, so best to lock up these gains now.
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08/01/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.81%, down another .02% and the lowest reading since 12/28/2012, as the credit markets continue to benefit from fears of a global  economic slowdown that is also driving down oil prices, now under $40/bl.
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07/29/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.83%, down .02% from yesterday, as GDP growth of 1.2% for 2nd Q preceded by a measly .8% in the first Q tells the credit markets that the Feds will not be in a rush to raise rates anytime soon.  Meanwhile, Greenspan worries about stagflation, which would end this run to lower rates.
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07/28/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.85%, down .06% from yesterday morning, as the Feds back away from strong language about increasing rates in the near term.   
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07/26/2016 7:01 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.88%, down a hair from yesterday, but going nowhere fast, as the credit markets continue to show apprehension, while stocks display optimism with DOW sitting close to its record high on 7-20 of 18,595.  Cracks are starting to show in the U.S. economy, and it surfaces where Americans spend their dough regularily: restuarants.
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07/22/2016 7:01 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.88%, even with yesterday and the 2 days before that, as the credit markets still bask in la-la land, even while stocks sit in record high terrain with DOW currently at 18,514.
THAT SUCKING SOUND?
07/13/2016 7:38 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.84%, up only a slight .02% from yesterday, despite U.S. stocks reaching record highs (DOW still up 1pt to 18,349).  Between stocks and credit markets, it is usually a zero sum game where one wins the other loses, but U.S. credit markets are feeling the suction from European and Japanese credit markets where government yields are negative and savers pay to play.
___________________________________________
07/12/2016 7:38 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.82%, down .01% from yesterday, but losing ground now as the  monitor above suggests, as stocks regain  their moxie (DOW up  80pts to  18,307).  Best to lock in rate.
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07/08/2016 7:30 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.84%, up only .01% from yesterday, despite a jobs report showing 287,000 new jobs for June.  The credit markets hardly flinched at this report, figuring the 38,000 jobs in May  with June average 162,000, and likely many in June are part-time  Summer jobs. 
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07/07/2016 11:16 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.82%, up slightly from yesterday, as the markets get ready for the June employment report tomorrow.  Will the numbers show a big rebound from the paltry 38,000 in May?  Normally, a jump would turn these rates up, but the global financial market is anything but normal.
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NOT SO BRAVE NEW WORLD?
07/06/2016 7:16 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.81%, DOWN .04% from yesterday, and .12% from the end of June, as the fireworks continue in the U.S. credit markets, matching up with yields not seen since 12/28/2012.   Back in those days, the Feds were feverishly buying 10 year Treasuries and these mortgage-backed securities to hold rates down and stimulate the economy.  Now European central bankers are pulling similar stunts, driving rates so low one pays to own a German 10yr. note (negative interest). The same negative rate is happening with the Japanese 20yr. bond. Since global institutional cash can go anywhere, it is finding positive yields here in the U.S. still attractive.   But not all of these gains  back in 2012 went into U.S. mortgage borrowers' pockets, as  lenders kept a good chunk of these gains.  The same is showing up in today's retail offerings across the nation. 
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06/30/2016 7:08 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.93%, up slightly from yesterday, as yesterday's inflation gauge here in the U.S. shows benign readings.  The Personal  Consumption Index, which Feds eye closely, was up .9% from a year ago, and stripping out food & energy, was up 1.6%,  under Fed target of 2%.  What is interesting is that the 10yr. treasury note is yielding less than core inflation, indicating the flight to safety is still guiding institutional investors.
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06/29/2016 7:22 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.92%, down .01% from yesterday, matching January, 2013 average,  despite bounce back of stocks (DOW up 170pts to 17,580) where Brexit fears abate. 
RATE LOCK ADVICE:
Even gold shows the anxiety levels lowering as prices drop $15 to $1315/ounce, so will the same hold true for the U.S. credit markets?  Best to lock up these gains.
__________________________________
06/27/2016 8:22 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.97%, even with Friday's drop, but not so with stocks as DOW down 321pts to 17,079.
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06/24/2016 7:17 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.97%, down .13%, as Brits vote 52% to 48% to leave the EU, leaving stockholders trembling (DOW down 500pts) from media hype over fallout.  The one world government movement took it on the chin yesterday, as the nation state drive for independence strengthened, snubbing the elites, who, by the way, own the media and guide the pen of business analysts.  It's a long way from a popular vote to lawmaker vote, where elites tend to control the turf.
____________________________________
06/23/2016 7:15 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.10%, up .02% from yesterday morn, as these rates rise and fall depending on the Brexit polls.  Yesterday, there was a 3% edge toward exist, which faded this  A.M.   Voting begins today to begin answering that proverbial question: "what price freedom?" 
________________________________
06/22/2016 6:40 AM PST/
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.08%, up .03% from yesterday morning, as polls say it is too close to call on Brexit, while the markets say Britain stays. 
RATE LOCK ADVICE:
It is a coin toss and stocks stay up while  the credit markets lose ground if the Brits vote to stay, and vice-versa.
__________________________________
 
 
 
 
 
 
 
 
 
 

 

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