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Daily Market Watch for Thursday, July 19, 2018 (Courtesy of Larry Baer and Market Alert )
Short Term Trend (5 days or less): Favors steady rates and slightly lower prices.
Long Term Trend (6 days or more): Favors steady to slightly higher prices and steady rates.
                      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:

It is a quiet day in the mortgage market.

News from the Labor Department showing the number of Americans standing in line to file first-time claims for government jobless benefits fell by 8,000 to 207,000 its lowest level since 1969. The data caused a little sag in the price of mortgage-backed securities early in the morning before buyers showed up and pushed it back a touch higher.

The tug-of-war between buyers and sellers in the credit market continues with neither party finding a meaningful advantage over the other. The result is that note rates on 30-year conforming mortgages have bounced around in a four (4) basis point range for the past 17 business days.

There is historical precedent that suggests tugs-of-war like we are now experiencing tend to end in dramatic fashion with the onset of a significant trend change in the direction of the winner.

The competition is heating up every day, and the contest is still very much undecided -- but all it takes is one economic headline or one event to provide one or the other camp of investors with a deciding advantage over the other.

The moral of the story is -- dont get complacent. While it is certainly nice to have limited market volatility like we are now experiencing it is not typically the norm.
 
Commentary and Chart Courtesy of Larry Baer and Market Alert

 
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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)
979-353-4234
Email:gayle@sweetwatermortgage.com
Brenham:Sandra Starnes (RMLO #298126)
979-251-0726
Email:sandra@sweetwatermortgage.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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