April 1, 2019

NDM News

New month, new special!  Our special for the month of April is ALL FHA volume receives a 0.25 price incentive.  High Balance, low balance, purchase, streamline, 800 FICO, 600 FICO, etc.  If it’s an FHA loan it receives a 0.25 price incentive.  Purchase season is seriously heating up, and with rates lower than any point last year there is refinance opportunity as well!  Let’s grow our FHA business!!!

Market News

Stocks opened higher with stronger than anticipated Chinese manufacturing PMI and the increasing hope of a trade deal. The big question for investors in the second quarter will be whether growth begins to improve again, or whether investors should see the central banks moves in a more negative light.

Bond prices are relatively flat, and the 10-year treasury is yielding 2.44%. Domestically, Fed Vice Chair for Supervision, Randal Quarles, said that he has an optimistic view of the growth potential in the economy, which may indicate rate hikes. In the U.K., the British Parliament voted against Prime Minister Theresa May’s deal for the third time, increasing the likelihood of a no-deal Brexit on April 12.

U.S retail sales fell 0.2% in February. The biggest drop came in grocery stores and building materials, which could potentially reflect cooler weather, though it could also signal further headwinds for the economy. The report suggests consumer spending will be limited as a growth drive in the first quarter.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage