August 5, 2019

Market News

As expected, China responded in kind to Trump’s tariffs from last week, sending the stock market down over 500 pts.  The ten year treasury has reached its lowest point of the year, and in years, reaching 1.75% as investors flock to safety during the latest round of international bickering.  While trade wars are not beneficial for global growth, they have pushed mortgage rates to their lowest point in years.  Price should not be the primary driver for brokers, but… if it is,  our FHA pricing with the specials is looking really strong.  We have both a Purchase and Streamline special of a 0.25, and combined with either Preferred or New Broker incentives should be one of the top prices out there.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage