November 13, 2018

NDM Ratesheet Changes Are Effective Today

  1. Alabama has moved from Group 1 to Group 4.
  2. HomePossible Super Conforming (High Balance) is now available on Page 10.  In order to make space we removed the 15 yr HomePossible product.
  3. We have made some positive LLPA changes to the Expanded and Near-Prime products.

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Market News

Stocks are moving higher in the AM after a violent selloff on Monday.  The energy sector has been battered as of late as WTI heads for its twelfth consecutive loss.  On top of this, the U.S. and China have resumed trade talks ahead of the G-20 meeting in November.  The S&P500 is currently trading at 2,744.37, 0.67% higher.

Treasuries are trading marginally higher to begin Tuesday’s exchange as investors patiently await more color surrounding the world’s most important trade relationship.  It looks like a representative from China will visit with the Trump administration prior to the G-20 summit in order set the stage for Trump and Xi’s upcoming meeting.  The US 10-YR Note is currently trading at 3.1580%, 0.0239 lower.

TBA MBS’ are little changed in the AM as investors digest the latest turmoil in equities.  Additionally, the NFIB small business report for October came in weaker than expected at 107.4, versus expectations of 108.0.  Liquid coupons are currently trading 1 tic higher.

The USD is hovering around an 18-month high as currency markets price in the latest geopolitical turmoil and central bank rhetoric.  The DXY is currently trading at 97.24, 0.41% lower.

Oil is moving lower in the AM as pricing remains firmly in a bear market.  WTI is on pace for its longest losing streak in history, and is currently trading at 57.95, 3.30% lower.


Josh Pappert – VP, Capital Markets
Nations Direct Mortgage