August 26, 2019

NDM News

Summer is almost over! (Don’t they always seem to go quicker and quicker?) And with the end of the month two of our specials are ending: the FHA Purchase special of 0.25 and the Streamline and IRRRL special of 0.25.  Be sure to lock before the end of the week!!!

Additionally,  the last day to lock a VA Cash out over 90% is also Friday. The last day to fund those loans is September 15th.  Please note, THERE WILL BE NO EXCEPTIONS TO THOSE DATES.

Market News

Stocks climbed after President Trump said prospects for a trade deal with China are better now than any time since the talks began last year. The risk of a recession has crept higher despite positive trade news. Protectionism escalated Friday when President Trump announced fresh levies on Chinese imports and called for American companies to leave China. The trade war’s latest twists and turns continue to elevate a tumultuous market. In the short term, it is difficult to navigate the trading environment. Investors are watching the headlines and trading on the headlines, creating more volatility.

Bond prices are relatively flat, and the 10-Year Treasury is yielding 1.53%. The durable goods report for July provides a snapshot of how the business sector was doing just before the latest escalation of trade tensions. While core capital goods increased slightly, the pace of core shipments slowed. Due to high uncertainty surrounding trade, the August report will be more informative with respect to business investment outlook. If the tariffs announced last week by President Trump are implemented, an investment stall would push growth in business investment in the second half of the year close to zero.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage