August 1, 2019

NDM News

August is off to a hot start!  Market is rallying, Nations Direct has some of the best FHA and VA Streamline pricing around, and now…

FHA Purchase Special through the month!!!  All FHA Purchases will now receive a 0.25 price improvement, effective this morning.  Applies to all FICOs, both Standard and High Balance loan amounts, and can be combined with Preferred and New Broker incentives for some of the most competitive pricing out there.

Market News

Treasury prices are flat this morning as the market continues to digest the Fed rate cut and comments from Jay Powell yesterday. Today’s US economic calendar includes Construction Spending figures and the ISM Manufacturing Index which will be closely watched amid ongoing trade tensions. Earlier this morning, Initial Jobless Claims came in slightly higher than expectations at 215k vs 212k. Currently, the 10yr yield is at 2.009% (2.061% Wednesday) and the 2-10 spread is 15 bps, 8 bps narrower since yesterday morning.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage