Action Lending - Mortgage News

06/28/2019 Weekly Mortgage Update

June 28th, 2019 3:54 PM by Gene Tidgewell

Economic News

First quarter GDP final reading came in at 3.1 % this week. Jobless claims were up this week. The President is expected to meet with the Chinese President to discuss the trade situation. The global economy continues to slow. The Fed meets again in July and it is expected that they will drop the Fed Funds Rate at that meeting.

The bond market will be closed next Thursday for Independence Day and the jobs report comes pout next Friday.

 

10 YEAR BOND YIELD AND RATES

The yield on the 10 year bond is at 2.00% at noon today. That is down 06 bps from the last blog. The yield on the 3.00 % mortgage backed security is at 100.81 up .20 bps since the last blog.  Rates are at good levels now.

 

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Posted in:General
Posted by Gene Tidgewell on June 28th, 2019 3:54 PM

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