Strong employment: jobless claims continue to be very low

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Published Date 8/8/2019

Today's Mortgage Rate Summary

How Rates Move:

Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up.

Rates Currently Trending: Neutral

Mortgage rates are moving sideways so far today on moderate volatility.  The MBS market worsened by -14 bps yesterday. This was enough to worsen rates or fees. The rates experienced high volatility yesterday.

Today's Rate Forecast: Neutral

Jobs: Initial Weekly Jobless Claims dropped to 209K vs. est of 214K. The more closely watched 4-week moving average continues to be very low at 212,250.

Wholesale Sales: The sales data showed a MOM contraction of -0.3% vs. est of +0.2%. Inventories were flat at 0.0% vs est of +0.2%.

Treasury Auction:  Today, we have our 30 year Treasury bond auction at 1:00.

China: Trade Balance with the U.S. $45.06B vs. est of $40B. China imports slowed to 0.4% vs. est of 1.7%, but Exports surged 10.3% vs. est of 2.9%.

Today's Potential Rate Volatility: High

Mortgage rates have ticked higher on a good deal of volatility after recently plunging lower. Look for rates to move sideways today on moderate volatility. However, markets have been very unpredictable lately, and indeed anything on the trade front could cause rates to move quickly on high volatility.

Bottom Line:

If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them.

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All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

NMLS #113731

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Important notice regarding recent wire fraud attempts:   Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Your lender will NEVER provide you with wiring instructions and will NEVER ask you to wire funds.  Please contact the settlement company and get wire instructions directly from them.  Never trust wiring instructions sent via email. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.  Also, ask your settlement company if bringing a cashier’s or certified check is an option, instead of a wire, for your funds needed at closing.

LaVerne StMary

Sr. Mortgage Loan Professional

NMLS: NMLS# 113731

Mortgages and Lifestyle

363 N Sam Houston Pkwy. E Suite1100, Houston TX 77060

Company NMLS:

Cell: 832-253-3966

Email: laverne.stmary@gmail.com

Web: http://ThatsMyLender.net