Initial Jobless Claims -2k to 228k in Latest Weekly Survey.

The 4-week moving average was 220,250, an increase of 7,750 from the previous week’s unrevised average of 212,500.

Mortgage Applications Rise in MBA Weekly Survey: The Market Composite Index increased by 2.7%, the Refinance Index increased by 1%, and the Purchase Index increased by 4%.

MBA reported the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) decreased to 4.41% from 4.42%.  The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) decreased to 4.27% from 4.31%.  The average contract interest rate for 30-year fixed-rate mortgages backed by FHA increased to 4.44% from 4.39%.  The average contract interest rate for 15-year fixed-rate mortgages remained unchanged at 3.81%  The average contract interest rate for 5/1 adjustable-rate mortgages increased to 3.88% from 3.81%.  The ARM share of activity increased to 6.4% of total applications.

ADP National Employment Report: Private Sector Employment Increased by 275,000 Jobs in April.

Construction jobs increased by 49,000. “April posted an uptick in growth after the first quarter appeared to signal a moderation following a strong 2018,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The bulk of the overall growth is with service providers, adding the strongest gain in more than two years.” Mark Zandi, chief economist of Moody’s Analytics, said, “The job market is holding firm, as businesses work hard to fill open positions. The economic soft patch at the start of the year has not materially impacted hiring. April’s job gains overstate the economy’s strength, but they make the case that expansion continues on.”

Nonfarm payrolls increased 263,000 in April, and the unemployment rate fell to 3.6%, the lowest level since December 1969

Average hourly wages for private-sector workers grew 3.2% from a year earlier, matching the prior month’s increase.  Economists surveyed had expected 190,000 new jobs in April, a 3.8% unemployment rate, and 3.3% wage growth from a year earlier.   Revised figures show employers added 189,000 jobs in March and 56,000 jobs in February, a net upward revision of 16,000.  Average hourly earnings increased 6 cents in April to $27.77 an hour. The annual increase in wages was much stronger than the 2.8% increase in April 2018 from a year earlier.
What We Do
Three reasons to choose us for all your Ideal hedging

Services

Maximize your Execution The mortgage pipeline is a very dynamic component of a mortgage banking business. Each day, new locked applications are coming in, loans are closing, locked applications are being denied or withdrawn and terms of existing locks are

Philosophy

At Vice Capital Markets, our hedging philosophy and process is both conservative and analytical.  Using your own historical data, we determine the expected fallout levels for each type of mortgage product in your pipeline.  Using this information along with the

Benefits

  Primary Benefits of Hedging Greatly improved execution over best efforts. In typical market environments, a 25 to 55 basis point improvement in execution is realized. In high-volume environments, double the typical improvement is not unusual. Improved flexibility and execution
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About Us
At Vice Capital Markets our goal is to help you

Since 2001, Vice Capital Markets has successfully managed the interest rate risk and maximized the profitability on over $400 billion of mortgage-backed securities trades and mortgage-related transactions.

Our expertise and familiarity with many types of executions and end investors has yielded superior results for our clients.

Through long rallies, swift declines, and multiple interest rate shocks our fallout models and risk management strategies have steadily and successfully weathered market fluctuations of all degrees.

Meet the Team
Some of our Company Officers

Troy D. Baars

President

Shawn D. Ansley

Managing Director

Kimberly M. Campbell

Vice President

Christopher M. Bennett

Principal
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