Monday, July 26, 2021

Daily Market Report 7/26/21

 http://MikesDailyMarketReport.com:  New Homes Sales dropped by 6.6% in June to 676k seasonally adjusted annualized units.  This is also on the heels of a lower revision to May's numbers, which dropped from the initial 769k to 724k.  Stocks are Mixed today, as they look ahead in the week, as the Fed will begin their 2 day meeting tomorrow and we'll have some members of the FAANG releasing their Q2 Earnings reports this week, including Tesla's being released after hours today.  NASDAQ is the lone index in Red, as US and China's relationship become a bit more contentious.  MBS started the morning a little higher, but it slipped back down to Unchanged levels, so Mortgage Rates remain unchanged from Friday's closing.  Yields were similar, as they remain under the 1.29% ceiling and currently sit at 1.28%.

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Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.



Friday, July 23, 2021

Daily Market Report 7/23/21

 http://MikesDailyMarketReport.com:  Today, we have IHS Markit PMI releasing their 2 reports, Manufacturing and Services.  The Services sector dropped down to 59.7; however, the Manufacturing sector rose to 63.1 in July.  Stocks continue their upward trend, based on Q2 Corporate Earnings Reports and keeping an eye toward next week's schedule of events (Q2 Earnings Reports for much of the High Tech Companies and FOMC).  MBS started the morning much lower, which Lenders whom release their ratesheets earlier on may have priced for the worse; however, MBS is Up 6bps.  So, Mortgage Rates should be priced now to the same pricing we found after yesterday's close.  Meanwhile, Yields are sticking around the 1.29%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.



Thursday, July 22, 2021

Daily Market Report 7/22/21

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims spiked last week to 419k (breaking back above the 400k level).  The good news is the Continued Claims dropped slightly.  NAR reported that Existing Home Sales increased from 5.78 million annualized units in May to 5.86 million in June.  Lastly, the Leading Indicators shows a 0.7% improvement for the month of June.  Stocks continue to rise today on continued strong Q2 Corporate Earnings releases.  MBS and Yields got a boost from the ECB's announcement today, which was very dovish and Bond friendly.  MBS is Up 19bps, which brings us back to same levels on Monday/Tuesday; whereas, Mortgage Rates improved back to those same levels.  Yields slid down to 1.26%, which is still a little higher than Monday/Tuesday levels.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.



Wednesday, July 21, 2021

Daily Market Report 7/21/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today.  Stocks are continuing upward trend on more good Q2 Earnings Reports.  The ECB announced a bit of a dovish signal on their stance with inflation, which sounds similar to that of our Fed's current stance.  This set a tone for the Bond/Treasury Market.  MBS is currently Down 19bps, as Mortgage Rates worsen a bit today.  Yields jumped Up to 1.29%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.



Tuesday, July 20, 2021

Daily Market Report 7/20/21

 http://MikesDailyMarketReport.com:  Housing Starts increased from (lower revision) of 1.546 million annualized units in May to 1.643 million, or up 6.3%, in June.  However, Building Permits declined by 5.1%, from 1.683 million annualized units in May to 1.598 million in June.  These, of course, are future Housing Starts.  We have seen a little bit of a pullback in Home Builders sentiment recently, so this isn't too surprising.  Stocks are rebounding after yesterday's big selloff.  Investors are buying back in, as sentiment is Monday's actions were a bit overblown.  MBS are off it's earlier highs, which better pricing was very short-lived.  Mortgage Rates are currently Unchanged from yesterday's close.  We're also seeing signs of a possible trend reversal, as candlesticks show some uncertainty with Investors.  Yields touched 1.13% earlier, but has rebounded higher to 1.21%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.



Monday, July 19, 2021

Daily Market Report 7/19/21

 http://MikesDailyMarketReport.com:  The NAHB Home Builder Sentiment dropped one point to 80 for June.  This index gauges the confidence with Home Builders.  This week will mostly be about housing data.  Stocks are WAY Down today (comparable to last October).  Investors are concerned that the Markets may have Peaked and the rising Delta variant cases globally.  Along with that, Investors are watching tensions rise between the US and China.  MBS Is Up 31bps, as Mortgage Rates improve from Friday's close.  Yields plunged all the way down to just under 1.19%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.



Thursday, July 15, 2021

Daily Market Report 7/15/21

 http://MikesDailyMarketReport.com:  The Philly Fed dropped from 30.7 in June to 21.9 in July.  This is still a great number; however, the size of the drop is a bit alarming.  Jobless Claims continue to improve, as 360k applied for first time benefits last week.  This is a new low, not seen since last March.  Also, we're seeing improvement with Continued Claims, as more people are going back to work.  The Empire State Index rose to an all time high in July, as it jumped from 17.4 in June to 43.0 in July.  Lastly, Industrial Productions came in below estimates (0.6%) in June at 0.4%.  We're still receiving Q2 Earnings Reports, but they're not having as big of an impact today with stocks, as Fed Chair Powell's 2nd day of testimony (this time with the Senate Banking Committee).  Stocks are all in the Red today.  Meanwhile, MBS started a bit lower, due to some hawkish comments from the Bank of England; however, it regained some momentum and are currently Up 8bps.  Mortgage Rates are currently Unchanged from yesterday's close; however, if they keep this momentum, then we could potentially see some improvements with our ratesheets.  Yields have also slid to just below 1.32%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.