Muni bonds

An offering in the news …

CALIFORNIA ST MUN FIN AUTH REVENUE OID

REF-CMNTY MED CENTERS-SER A

Rating: Baa1(Moody’s)/A-(S&P)

Interest Rate: 4.00%

Maturity: 2/1/2042

Call Features: 2/1/2027 @ 100

Yield to Call: 4.00%

Yield to Maturity: 4.00%

Mortgage rates

The 30-year fixed-rate mortgage averaged 4.30% during the December 22 week, up from 4.16% in the prior week. The 15-year fixed-rate mortgage averaged 3.52%, up 15 basis points during the week.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.32%, up from 3.19%.

Muni bond exemption

Trump on Muni bond exemption.

“He’s the president-elect, and he said he would keep it,” said Tom Cochran, CEO and executive director of the U.S. Conference of Mayors, following a half-hour meeting with Donald Trump in New York.

Employment

The economy created 156,000 new jobs in September, another solid gain in employment that’s likely to prod the Federal Reserve to raise interest rates in the next few months.

Jobs

The Labor Department’s job openings and labor turnover survey showed 5.87 million openings, hires increased to 5.23 million from 5.17 million in June.