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Mark Hemingway

Market News for August 4th

Tuesday, August 4, 2015 - Article by: Mark Hemingway - Security Financial Services, LLC - Message

The recent rally in Mortgage Bonds seems to be stalling at current levels. Locking is recommended. There are no economic reports due for release today.Traders begin to position themselves ahead of this week's big risk event ... July Non-farm payrolls, which will be released Friday morning at 8:30am ET. After the recent plunge, WTI oil up 72 cents to $45.88/barrel. USD Libor 1-month .19%, 3-month .30%, 6-month .48%, 12-month .80%. CoreLogic reports home prices rose 6.5% year-over-year in June, up from 5.6% year-over-year in May. May to June saw a 1.7% increase. The Federal Reserve says banks reported having eased lending standards for a number of categories of residential mortgage loans over the past three months. Mortgage Bonds range bound, while Stocks also trade in a tight range near unchanged.

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