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Market Commentary – 8/28/15

Posted on August 28, 2015 by Conrad Juliá

The U.S., European, and Asian equity markets experienced tremendous volatility this past week with the Dow Jones Industrial Average losing more than 1,000 points Monday morning. However, the global markets did rebound during the middle of the week to take back most of the losses suffered Monday.

On Thursday, the Commerce Department reported that GDP expanded at a 3.7% seasonally adjusted annual rate in the Spring. This positive GDP number, along with China priming the monetary pump with its own Quantitative Easing (QE) stimulus program, led the equity markets higher.

Even with the massive volatility surrounding equities and the tame inflation numbers, U.S. bonds did not benefit, with significantly lower yields. With the 10 year U.S.Treasury hovering around 2.18%, we remain slightly biased toward locking as bonds trade between resistance and support levels.

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These are the opinions of the author. For financial advice, please talk to your CPA or financial professional.

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(2) Disclosures

(1) Minimum FICO, reserve, and other requirements apply. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. Rates, points, APRs and programs are subject to change without notice. Actual closing times will vary based on borrower qualiﬁcations and loan terms. All loans are subject to credit approval. (2) “Loan to Cost” (LTC) is defined as the acquisition price of the property plus the cost to build as determined by a bank appraisal. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. (3) With an interest-only mortgage payment, you will not pay down the loan's principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your Insignia Mortgage, Inc. loan officer to determine what your payments might be once the interest-only period ends. (4) With an adjustable rate mortgage (ARM), the loan payment will adjust after an initial period and then adjust on a regular basis as set forth in the loan documents. For example, a “3/1” loan will have an interest adjustment 3 years after the loan closes and every 12 months thereafter. Also, the loan will be subject to annual and lifetime adjustment caps. Contact your Insignia Mortgage loan officer to determine what your payments might be once the fixed rate period of the loan ends. (5) Insignia Mortgage, Inc., is a real estate broker licensed by the CA Bureau of Real Estate, DRE #01969620, NMLS #1277691.