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Mortgage Rate Predictions

Oct 16, 2014 1:26PM PDT

Rate Update 10/16/2014 : Mortgage rates have been on a roller coaster the past 24 hours, and while up slightly now, are still holding at impressively low numbers for even beyond the past year. If economic data plays any part in where rates will head next, it's looking like they could experience more ups and downs: the NAHB housing market index fell to 54, below expectations that it would remain at 59. The Philly Fed business index was slightly above expectations of 20 at 20.7. Jobless claims filings had the most positive outlook, falling to a 14-year low. For other potential market movers this week, keep an eye out for housing starts and building permits tomorrow. Yesterday: Mortgage interest rates hit major lows. Unsuprising, considering the massively disappointing economic data riding the... More

Displaying rates for Mortgage Refinance in NJ for $200,000

3.934%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated October 22, 2014

4.087%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated October 22, 2014
  • Direct Mortgage Lender
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3.973%

APR
30 Year Fixed
3.750% Rate $926/mo
  • Updated October 22, 2014
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  • Free 60-day rate lock and no application fee

4.165%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated October 22, 2014
  • DIRECT LENDER. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in New Jersey.
  • These rates won't last. Call now and lock-in your low rate!

3.926%

APR
30 Year Fixed
3.875% Rate $940/mo
  • From the lender: Trust your home financing to a company that puts your needs first.

3.728%

APR
30 Year Fixed
3.540% Rate $902/mo
  • From the lender: Check out our $495 closing cost option. We pay all other costs. No app fee!

3.716%

APR
30 Year Fixed
3.625% Rate $912/mo
  • Updated October 22, 2014
  • From the lender: A+ RATING WITH BBB. LOCAL NJ LENDER. WHOLESALE RATES
James Brooks
This week brings us the release of four pieces of economic data that are likely to affect mortgage rates. Only one is considered to be very important and even it fails to move the markets or mortgage pricing many months. But was we saw multiple days last week, we don't necessarily need to have key data being posted to have havoc in the markets. The National Association of Realtors will start the week's activities with the release...
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Richard Woodward
I work with many Texas Realtors and one of the conversations we always have is how to find more buyers and sellers. Selling real estate is a rewarding career with the great reward of helping families find a home. The challenge all Realtors have is how to find qualified prospects to work with. This challenge can be frustrating and expensive. I am always looking for ways to work together with Realtors to help them prospect efficiently. While paying
Justin Fitzhugh
This course is designed for underwriters who are new to analyzing self-employment income and who want to learn Fannie Maes approach to underwriting self-employed borrowers. Course is Today, October 16th @ 2:00pm EST, 11AM PST One of the challenges facing today's underwriters is ensuring that self-employed borrowers can qualify for a mortgage. The goal is to decide if the borrower's income is stable, ongoing, and sufficient to make the...
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Bart Castelli
Mortgage rates continue to go lower today as we saw something that we have not seen in nearly for a long time. Today marked the first time a person with outstanding credit and ratios were quoted 3.875%, even though there was some fees associated with it as now 4.0% is now the most prevalent quoted conforming 30yr rate for top tier borrowers. How do like these headline reports: Europe is sinking while the US is still growing.Recent economic...
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Bart Castelli
Mortgage rates have hit the low point this year and the lowest point since June of 2013. There was a chance that much of the recent rally in bond markets had been due to the expectation that today's Fed Minutes would offer a softer side of what was seen on Sep 17. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios now is a solid 4.125%, with 4.0% coming more into the picture faster than before. Unless you witnessed...
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Justin Fitzhugh
The Federal Reserve plans to stop tapering by the end of October, but Presidents of the Minneapolis and Chicago Federal Reserves, Narayana Kocherlakota and Charles Evans, advise otherwise. Last week after a rate drop, mortgage application activity increased 3.8% from a week earlier; the increased was led by an increased in refinacings. A voter in the Federal Reserves policy setting panel, President Kocherlakota has argued and campaigned in favor...
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Bart Castelli
Mortgage rates have moved in the right direction to the lowest levels in over a month. We are still seeing 4.125% as the most prevalent quoted conforming 30yr rate for top tier borrowers with additional closing costs with 4.25% still in the picture. For every move the stock market makes, the bond and MBS markets follow like well-trained hunting dogs.Today no different, the stock indexes opened better, rate markets flat; the key indexes lost...
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James Brooks
By James Brooks This week has little in terms of scheduled economic reports that are likely to affect mortgage rates. There are no monthly or quarterly reports set for release that are worth watching. We do have a couple of events that certainly can cause mortgage rates to move, but none of them are considered highly important or expected to be a market mover. There is nothing scheduled for Monday or Tuesday, so the week should start off quietly....
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Bart Castelli
Mortgage rates moved a little bit higher today, but was surprisingly better than what was anticipated after a strong job report this morning. We are still seeing 4.125% as the most prevalent quoted conforming 30yr rate for top tier borrowers with additional closing costs with 4.25% still in the picture. Kind of interesting today that there was very little selling at the long end of the curve. Most in the 5yr note as yield curve flattening...
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Blake Kleckner
If you have had an FHA mortgage loan for a year or more, and are tired of paying its expensive mortgage insurance (MI), perhaps you should consider refinancing now. Believe it or not, your home may have a high enough fair market value (FMV) to eliminate MI once and for all, even after just one year from when your FHA loan was originated! Because of the exceptional increases in California home values since the beginning of 2013, it may now be...
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Justin Fitzhugh
Last week, September 22nd, 2014, the Federal Reserve released an overview of the 2013 Home Mortgage Disclosure Act of 1975, HMDA. [1] As most of us know, the 2013 mortgage activity saw a dramatic drop in refinancings, increase in home-purchase originations, and a reduction in government backing. This data reflects mortgage market activity over time and lending patterns across different demographic groups and lender types. The HMDA data are the...
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Richard Woodward
Foreign National Mortgage This program is designed for true foreign nationals, or persons of other counties, who would like to purchase a second home or investment property in the United States. A case-by-case approval process applies to each loan, and Interlinc Mortgage must have a comfort level with the country of origin's banking system for asset verification and with the borrower's income documentation. Pre-Approval is highly...
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Bart Castelli
Mortgage rates continued to move in a positive direction as the 4th Quarter has started off with a bang! Today's improvement brings back rates where they were at the beginning of last month. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.25%, but 4.125% is now in the picture with the closing costs associated with this being the only change. Here we go again with the stock market and debate about...
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James Brooks
By James Brooks The bond market is currently down 1/32 (2.48%), which should keep today's mortgage rates at the same level as yesterday's rates. Today's only relevant economic data came late this morning when the Conference Board released this month's Consumer Confidence Index (CCI) at 10:00 AM ET. It showed a reading of 86.0 that was well short of expectations. Analysts were calling for a reading of 92.0, meaning surveyed...
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Bart Castelli
Mortgage rates went a bit upward today as September has proven not to be a good month on record this year for interest rates. Things could have been a lot worst if it was not the improvement we have seen in the past week. Even with the slight increase today, the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.25%, with the closing costs associated with this being the only change. The stock market continues...
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Joe Shamie
Monday - September 29, 2014 - 9:50 am ET Current Trend Direction: Higher Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond:$105.50, +16p Mortgage Bond prices continue to grind higher as Stock prices continue to drift lower. Stocks, which lost a bit of ground last week, are slipping again as investors book profits with equity prices near all-time highs and the Fed on the QE3 exit ramp. Also helping the overall Bond Market is a...
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Bart Castelli
Mortgage rates were up and down all day, but overall, the bottom line is that they did not affect the price all day as it remained steady from the close of yesterday. We are still seeing 4.25% as the most prevalent quoted conforming 30yr rate for top tier borrowers with the only change in the closing costs. The day was volatile in the MBS market - opening better then took a dip before returning to just below the starting point through the...
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Prospect Financial Group, Inc.
Buying a home is one of the biggest financial decisions of a person's life. A mortgage will stick with you for years to come and etch out your financial situation for all of those years as well. There are so many details that go into planning for a mortgage that you may want to start early. If you're thinking about buying a home; you should realistically start planning a year before you want to make the purchase. There's nothing...
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Bart Castelli
Mortgage rates continued to fall back in line from several weeks ago. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.25%, with the closing costs associated with this being the only change. It is beginning to look like a major correction is beginning in the stock market. Over the past 15 months the stock market has had somewhat similar price action but there had been no true follow-through, this time...
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James Brooks
By James Brooks The bond market is currently down 4/32 (2.53%), which should improve today's mortgage rates by .125 of a point compared to yesterday's mortgage rates. The Commerce Department announced late this morning that sales of newly constructed homes rose a whopping 18.0% last month, greatly exceeding expectations. This pushed sales to their highest level in over 6 years and was the largest monthly increase in more than 22.5...
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Bart Castelli
Mortgage rates continued to edge lower after rising as fast as it did several weeks ago. Today's improvement brings back rates where they were two weeks ago. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.25%, with the closing costs associated with this being the only change. The stock market took another hit this afternoon, at one point the DJIA down another 100 points. The reaction in the rate...
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James Brooks
By James Brooks The bond market is currently up 6/32 (2.55%), which should improve today's mortgage rates slightly if comparing to yesterday's mortgage rates. There is nothing of relevance scheduled for today that is expected have an impact on mortgage rates. If we see an intra-day revision to rates, it will likely be a result of a noticeable move in stocks. If the major stock indexes move into positive ground, we could see bond prices...
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Bart Castelli
Mortgage ratesare moving in the right direction after the beginning of the month took its toll on the bottom line. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.25%, with the closing costs associated with this being the only change, as 4.375% still is becoming more of a reality with no discount points, but 4.125% did breathe some life today. MBS prices opened better this morning then slid back a little...
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Joe Shamie
Monday - September 22, 2014 - 9:35am ET Current Trend Direction: Higher Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $105.16, +10bp After several days of bouncing along the 200-day Moving Average of support, Mortgage Bonds have gapped or opened higher and away from this support level. This is a positive technical signal as it signals that there were more buyers than sellers in the pre-market. We are looking and hoping for...
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Justin Fitzhugh
This is the 5th installment of the series Housing, Americas Future. As I read this study I recognize that some of the policies the study proposed last year are becoming a reality, and I think it important for us, average members of the industry, mortgage branch manager, loan originators, etc. to get a general idea of what may be one of the sources for the policy changes we have observed and yet to come. This study [1] was authored by the Housing...
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Prospect Financial Group, Inc.
The year 2014 started out with a weak first quarter. Recovering has been a slow process but has finally reached completion; as the sales form May are the highest of the year. Though sales are beginning to rise, mortgage rates remain low. Current rates are at 17-month lows. It is now common for lenders to quote rates in the 3's for traditional conforming loans. Another thing that remains low is home values. The slow climb of values has been...
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Joe Shamie
Wednesday - September 17, 2014 - 10:10am ET Current Trend Direction: Climbing higher Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $104.97, +3bp It's Fed day. At 2:00pm ET the Fed will release their monetary policy statement. Everyone is looking to see if "considerable time" will be left in statement to describe how long the Fed Funds Rate will be held steady post QEIII. We don't see any reason to change the...
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Bart Castelli
Mortgage rates experienced their first gain in two weeks, even though they were small, it was still in the right direction. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.25%, with the closing costs associated with this being the only change, as 4.375% still is becoming more of a reality with no discount points. The FOMC meeting began this morning and concludes tomorrow afternoon. Until this morning...
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LouisJ
Residential Real Estate Investors Now is still a great time for investors to purchase residential one to four unit property. Property values are relatively low, interest rates are low and conventional financing is available to a point. The problem occurs when you have more than 4 properties financed. Today the answer is blanket mortgage financing. This allows the serious investor an opportunity to have own 10, 15, 20 or more units. When an...
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Joe Shamie
Tuesday - September 16, 2014 - 10:15am ET Current Trend Direction: Climbing higher Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond:$104.97, +3bp Mortgage Bond prices continue to drift a bit higher today being supported by falling Stock prices and ongoing tame inflation data. Today, the Fed kicks off its 2-day Federal Open Market Committee meeting in Washington, D.C. to discuss the current state of the US economy and monetary...
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Bart Castelli
Mortgage rates managed to hold steady today. We are still at 4.25% as the most prevelant quoted conforming 30yr rate for top tier borrowers, and even then with some additional closing costs - but 4.375% is in the picture. Less than 48 hours from now the FOMC will have released its policy statement and Yellen's press conference will have been concluded. In the meantime there is not going to be much movement in the rate markets - we do not...
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Linda Miller
Well, it feels like the boring but nice - super low rates of the summer might be coming to an end. We went most of 2014 with rates in the 4.125% to 4.25% range. This week saw an increase in the 10-Year Treasury Note from 2.45 to today where it hit 2.60. There was no significant data today to warrant this big move. It just feels like it is an accumulation of lots of little things suggesting the economy is getting better. If you have ever watched...
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Justin Fitzhugh
This is the 4th installment of the series Housing, Americas Future. Through this series, I summarize and discuss this study[1] which was authored by the Housing Commission and sponsored by the Bipartisan Policy think tank. Today I summarize and discuss Reforming Our Nations Housing System.[2] This part deals with the history of our housing financing system. I found it quite interesting to get a refresher course on what motivated the creation of...
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Bart Castelli
Mortgage rates were essentially unchanged today. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains split between 4.125% and 4.25%, with the closing costs associated with this being the only change. Not much of day but MBS prices have drifted lower since this morning. The 10yr at 2.54% is slightly higher. Still testing the 100 day average on the 10yr note---and holding. Weekly jobless claims were higher this...
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Justin Fitzhugh
The Consumer Financial Protection Bureau, CFPB, announced its plan to launch a financial coaching program for veterans and economically vulnerable consumers. The Bureau requests commentary from stakeholders, which will be used as part of the authorization request from the Office of Management and Budget for the program. The financial coaching would likely direct clients to engage in Housing Counselling sessions whenever they face homeownership...
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Bart Castelli
Mortgage rates continued to move higher at a fairly quick pace today. Some borrowers were quoted the same rates today as yesterday (4.125%) for top tier borrowers, again with the only change coming in the form of closing costs, but 4.25%is now more in play than it has been during the past several weeks. Not much movement in the bond and mortgage markets through the day after a weak opening this morning. The intraday volatility we were thinking...
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Bart Castelli
Mortgage rates unfortunately moved in the wrong direction today as they raced to their highest levels in over a month. Even though 4.125% is still available for conforming 30yr fixed rate mortgage for flawless borrowers, we are now seeing 4.25% be more prevalent after today's weakness. We have talked of market volatility in the last few commentaries; today however, in the bond and mortgage markets there was little or no price volatility.The...
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Prospect Financial Group, Inc.
Closing costs are on the rise. People now pay around 6% more this year as compared to a year earlier. You don't have to pay through the roof, however. If you know what closing costs are, it will be easier to avoid them. Discussed below are the different types mortgage costs. There are two types of closing costs: origination/lender charges and third party fees. Origination/lender fees are paid with your loans origination. It takes a lot of...
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Justin Fitzhugh
LIBOR is a reference rate that is currently used in more than $3000 trillion dollars worth of contracts. This rate is part of the international financial system, and every American household and business that holds a LIBOR-linked mortgage and loan is vulnerable to it. However, the credibility of this rate was devalued after the LIBOR manipulation scheme that came to light in 2012.[1] The scandal has lead Federal public officials to analyze this...
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Joe Shamie
Tuesday - September 9, 2014 - 10:05am ET Current Trend Direction: Sideways Float/Lock Bias: Locking short term Current Price of FNMA 4.0% Bond: $105.75, -12bp Mortgage Bonds are drifting lower this morning after failing to break above resistance levels yesterday. A report out by the San Francisco Fed says that researchers indicate that investors are underestimating how quickly the Fed can raise interest rates. Current forecasts from the Fed...
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Prospect Financial Group, Inc.
Closing costs are on the rise for the second year in a row, according to Bankrate's annual closing cost survey. On a mortgage of $200,000 dollars, the average home buyer is paying $2,539 in lender and third party fees. The third parties aren't to blame for the rise in closing costs; the raise in costs comes directly from lender fees. When you ask why, all answers point to tightened mortgage standards. What is known as the "qualified mortgage...
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James Brooks
By James Brooks With the release of only two pieces of monthly economic data in addition to two Treasury auctions that have the potential to affect mortgage rates. Despite the low number of reports, we still will likely see a fair amount of movement in the markets and mortgage pricing. The economic data is set for late in the week and the Treasury auctions will take place mid-week. There is nothing of relevance scheduled to be posted or announced...
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Nevin Williams
How to Calculate FHA Mortgage Insurance ( FHA MI) What you will need: A standard calculatorA piece of paper/penA little patienceAn understanding of MI factorAn understanding of UFMIPHere is the formula for loans with terms greater than 15 years - Loan amount multiplied by to monthly MI factor divided by 12 equals your monthly MI payment. MI factor is the number used to calculate the sum. FHA rules change but as of Januar
Joe Shamie
Friday - September 5, 2014 - 1:45 pm ET Current Trend Direction: Sideways Float/Lock Bias: Locking short term Current Price of FNMA 4.0% Bond: $105.91, +9bp And the survey says142K jobs were created in August, far below the 223,000 expected and recent trend of 215,000+ per month in 2014. Adding insult was a downward revision to June, where 28,000 less jobs were created. The Unemployment ticked down to 6.1% from 6.2% - which could be viewed as the...
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Justin Fitzhugh
This is the third instalment of my discussion of Housing, Americas Future study.[1] My intention is to summarize the various points the Bipartisan Policy Think Tank addresses through this study while I promote the involvement of mortgage professionals in the shaping of our industry. Part 1,
Bart Castelli
Mortgage rates ended the day all over the place as volatility was evident in the market. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.125%, with the closing costs associated with this being the only change. Another technical test of key support for the 10yr at 2.45% - yesterday it increased to 2.45% then rallied after not going above it. Today the note opened at 2.42% then declined to 2.40%,...
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Justin Fitzhugh
Last week, August 26, 2014, Fannie Mae announced an update to mortgage fraud prevention measures. The selling guide announcement SEL-2014-11 indicated the Agency has implemented the Suspended Counterparty Program (SCP) established by the FHFA.[1] Effective on the date of the announcement, lenders are prohibited from engaging any individual or entity that is listed on the Programs list to originate or service loans owned by the Agency. Before...
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Bart Castelli
Mortgage rates started the day heading higher after overnight news of a potential ceasefire in Ukraine caused investors to quickly sell safe-haven assets. The Mortgage Backed Securities (MBS) that dictate mortgage rates fall into this 'safe-haven' category along with US Treasuries. Two points about the rally in treasuries today - traders do not believe that a real cease fire in Ukraine will happen, and technically selling dried up at...
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Sean Young
Are you nervous about buying your first home? Don't worry you are not alone. Buying a home can be very stressful even if it's your 10th time doing it. Feeling anxious or being nervous is perfectly normal when buying a home. Did you find the right property, the right area, are the schools any good, can I afford this? The list can go on and on, but if you follow some of the suggestions below you can will feel more secure with your...
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Joe Shamie
Wednesday - September 3, 2014 - 9:55am ET Current Trend Direction: Sideways to lower Float/Lock Bias: Locking short term, days to a few weeks Current Price of FNMA 4.0% Bond: $105.75, Unchanged News of a possible ceasefire between Ukraine and Russia is pressuring the Bond markets slightly lower and is pushing the S&P 500 to fresh record highs. There are no economic reports due for release today, but the Fed Beige Book will be released at...
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