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Daily Market Watch for Friday, August 18, 2017 (Courtesy of Larry Baer and Market Alert )
Short Term Trend (5 days or less): Favors steady rates and volatile prices trading in a tight range.
Long Term Trend (6 days or more): Favors steady rates and steady prices – but just barely.
                      30 Year Fixed (National Average)
15-Minute Daily Chart of the Fannie Mae 5.0% - 30 Year from mktalert.net

 

Dow Jones Industrial Average Last 5 Days          



 
Commentary:

Mortgage interest rates drifted fractionally higher for much of the week as events from Charlottesville to Barcelona help create selling pressure in the stock markets – sending capital scurrying for the relative safety of Treasury debt obligations and agency-eligible mortgage-backed securities.

With nothing to consider on today’s economic calendar – mortgage investors will use trading action in the stock market as a guide when they set rates. Lower stock prices will likely prove supportive of steady to perhaps fractionally lower mortgage interest rates while higher stock prices will tend to put upward pressure on mortgage interest rates.

I think it is instructive to note the Dow Jones Industrial Average has fallen over 500 points since setting an all-time high close of 22,118 on August 7th – the price of the Fannie Mae 3.5% 30-year mortgage-backed security has done nothing more than trade in a very tight 13/32nd (40.6 basis point) trading range. From my perspective, this fact does not look anything remotely like a ringing endorsement of mortgage investors’ desire to push rates notably lower from current levels.

Looking ahead to the coming week things will get off to a slow start. On Wednesday the July New Home Sales report will hit the wires followed on Thursday by the July Existing Home Sales figures. The July Durable Goods report and a mid-morning speech by Fed Chairman Janet Yellen from the Kansas City Fed’s Economic Symposium in Jackson Hole, Wyoming will round out the week on Friday.

The data from the housing sector is not expected to differ greatly from the solid pace of recent months while the “ex. transportation” component of the July Durable Goods Orders report is projected to post a noticeable improvement – climbing to a gain of 0.7% after advancing a modest 0.1% in June. Mortgage investors will be listening intently to Mrs. Yellen’s comments, but it is unlikely she will say anything that will influence the market one way or the other.
 
Commentary and Chart Courtesy of Larry Baer and Market Alert

Recent Additions to The Sweetwater Real Estate Page View The Sweetwater Real Estate Page
16314 Leamington Ln.
Houston , TX   77095
$169,000
Agent: Sheila Joplin     (281)236-4555
Better Homes and Gardens Real Estate Gary Greene
Date listed on this site: 8/17/2017

Loan Officer: Jim Norris (RMLO #304627)

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16314 Leamington Ln. Houston TX 77095
 
5906 BIRDWOOD RD.
HOUSTON , TX.   77074
$259,000
Agent: JANIE Y LEE     832.677.5899
REALTY ASSOCIATES
Date listed on this site: 8/9/2017

Loan Officer: Jim Norris (RMLO #304627)

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5906 BIRDWOOD RD. HOUSTON TX. 77074
 
8618 Hot Springs Dr.
Houston , TX   77095
$249,900
Agent: Sheila Joplin     (281)236-4555
Better Homes and Gardens Real Estate Gary Greene
Date listed on this site: 7/5/2017

Loan Officer: Jim Norris (RMLO #304627)

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8618 Hot Springs Dr. Houston TX 77095
 
3219 Oak Park Ln
Missouri City , TX   77459
$334,900
Agent: Linda Holder     281-437-3490
Linda Holder Properties
Date listed on this site: 5/30/2017

Loan Officer: Jim Norris (RMLO #304627)

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3219 Oak Park Ln Missouri City TX 77459
 
1902 Oakhurst Pkwy
Sugar Land , TX   77479
$429,500
Agent: Linda Holder     281-437-3490
Linda Holder Properties
Date listed on this site: 5/30/2017

Loan Officer: Jim Norris (RMLO #304627)

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1902 Oakhurst Pkwy Sugar Land TX 77479
 
19207 Dawntreader Dr.
Cypress , TX   77429
$229,900
Agent: Sheila Joplin     (281)236-4555
Better Homes and Gardens Real Estate Gary Greene
Date listed on this site: 5/27/2017

Loan Officer: Jim Norris (RMLO #304627)

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19207 Dawntreader Dr. Cypress TX 77429
 
 
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MANAGEMENT  

Jim Norris - President (RMLO #304627)
12010 Miramar Shores Dr.
Houston, TX 77065
(281) 970-1082 ext 1
(866) 717-4556 ext 1 Toll Free

jim@sweetwatermortgage.com 

Elle Roloff Norris - Operations Manager (RMLO #304630)
12010 Miramar Shores Dr.
Houston, TX 77065
(281) 970-1082 ext 2
(866) 717-4556 ext 2 Toll Free
elle@sweetwatermortgage.com

 

LOAN OFFICERS

Brenham:Gayle Valentine-Hill (RMLO #298234)
119 W Commerce St
Brenham, TX 77833
979-353-4234


Email:gayle@texashomeplacemortgage.com
Brenham:Sandra Starnes (RMLO #298126)
119 W Commerce Street
Brenham, TX 77833
979-353-4234
979-251-0726

Email:sandra@texashomeplacemortgage.com
Houston:Jim Norris (RMLO #304627)
12010 Miramar Shores Dr
Houston, Tx 77065
(281) 970-1082 ext 1
(866) 717-4556 ext 1
Email:jim@sweetwatermortgage.com
Houston:Ellen Roloff Norris (RMLO #304630)
12010 Miramar Shores Dr
Houston, TX 77065
281-970-1082 ext 2
866-717-4556 ext 2
Email:elle@sweetwatermortgage.com

 

 
 
  
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