Thursday, January 21, 2021

Daily Market Report 1/21/21

 http://MikesDailyMarketReport.com: After yesterday's disappointing news on Home Builders Confidence, we receive good news on Housing Starts for December, as they jumped from a revised November number of 1.578 million seasonally adjusted data to 1.669 million for December; and Building Permits (future Housing Starts) also jumped up (from 1.635 million in November to 1.709 million in December).  Manufacturing spiked in Philadelphia area this month, as the Philly Fed Index rose from 9.1 in December to 26.5 in January.  Lastly, Initial Jobless Claims dropped last week to 900k people applying for first time unemployment benefits.  It's a tepid number, as we saw this number down in the 700k range before it rose again.  Stocks started the morning in Positive Territory; however, now we're seeing the DOW and S&P in Negative Territory.  We have more Q4 Earnings Reports being released today.  Biden is signing Executive Orders on his first full day today.  However, Investors are watching closely for another Stimulus Package.  Finally, the ECB made a statement today that they'll keep their rates unchanged; however, there was a part of the speech that indicated they may alter their asset purchasing in their PEPP program.  This had initially inadvertently affected our MBS Market here; however, it appears to be rebounding a bit now, as it's Up 5bps from yesterday's close.  Yesterday, we closed Up 16bps.  If Lenders didn't re-price for the better yesterday, then you should find that improvement in today's pricing (improvement in Mortgage Rates).  Yields continue their sideways movement; and hover between 1.09% - 1.10%.

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, January 20, 2021

Daily Market Report 1/20/21

 http://MikesDailyMarketReport.com: The NAHB Home Builders Index dropped from 86 to 83 in January.  This index shows the Confidence level for Home Builders.  Stocks are Up this morning, as we receive some of the Q4 Corporate Earnings Reports.  The Geopolitical news have been more of an impact with the Markets, especially the Stimulus Package.  Today is also the Inauguration Day, but isn't having much impact on the Markets.  Biden has already reversed a few policies that were implemented under previous administration.  MBS is Up 3bps. Mortgage Rates have been moving sides ways this week, thus far; so they have remained Unchanged.  Yields have been keeping within the 1.09% to 1.10% range; currently sitting at 1.09%.  We could potentially see these come to a head this week, pending any outcome of a Stimulus package.

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, January 19, 2021

Daily Market Report 1/19/21

 http://MikesDailyMarketReport.com: There are no economic data to report today.  Today is pretty quiet in the Markets.  Stocks are Up this morning.  Janet Yellen, whom will become the new Treasury Secretary, will be speaking before Senate today to encourage them in supporting a larger Stimulus Package.  Tomorrow will be the inauguration.  MBS has little changed from last Friday (down just 3bps), so pricing for Mortgage Rates remain unchanged from Friday's close.  Yields are trending sideways, between 1.09% and 1.10%.

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.



Friday, January 15, 2021

Daily Market Report 1/15/21

 http://MikesDailyMarketReport.com:   We have a number of items on the Economic Calendar today, which we'll start with the Producer Price Index for the month of January.  The PPI rose 0.3% in January; whereas it's Core PPI (excludes food and energy)  rose 0.1% and it's YoY dropped from 1.4% to 1.2%.  The PPI is inflation data for the Wholesale sector, so it doesn't have as much impact as the CPI or PCE.  Retail Sales disappoint again, as it dropped 0.7% in December; and when you exclude Autos, it dropped 1.4%.  Manufacturing continues to slow down in the NY region, as the Empire State Index reports that it went from 4.9 in December to 3.5 in January (anything above 0 is expansion; and below is contraction).  Capacity Utilization grew to 74.5% in December; and Industrial Production rose by 1.6%.  However, Consumers weren't feeling it in January, as the Consumer Sentiment dropped from 80.7 in December to 79.2 in January.  Also, Business Inventories rose only 0.5% in November.  Stocks are Down this morning on the poor data with Retail Sales, Empire State Index and Consumer Sentiment.  The announcement of the $1.9 Trillion Stimulus package was announced yesterday, but there are concerns that it still may not pass with some of the more moderate Democrats, as they may feel it's too big.  Also, the slow rollout of the vaccinations is weighing on Investors, as Pfizer announced they will rolling out less this year to Europe.  MBS is Improving today, as it's Up 22bps this morning.  However, yesterday, we had a late pullback and closed Down about 16bps (so most Lenders repriced for the worse).  Mortgage Rates are about what we found yesterday morning and Wednesday's close (Unchanged); and improved from yesterday's close.  Yields have been trending (for the most part) between 1.09% and 1.10%.  It's currently sitting just a hair under 1.09%, on the Technical floor.

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, January 14, 2021

Daily Market Report 1/14/21

 http://MikesDailyMarketReport.com: Initial Jobless Claims saw a very large spike in this week's report for people applying for first time benefits.  It jumped up to 965k.  Even the Continuing Claims rose by 200k+, as this was decreasing each week.  Obviously, this is mostly due to renewed Lockdowns.  However, Stocks are embracing the bad data and trading in Positive Territory this morning, as this may represent a bigger Stimulus Package (3.0).  There was initial talk of a $1.3 Trillion package, but reports are coming out that it may be closer to $2.0 Trillion.  There may be some pushback (even) within the Democratic Party of going too big, so we'll need to watch.  Meanwhile, MBS are Down 3bps, after having a successful day yesterday (closing Up about 33bps).  Most Lenders improved their pricing yesterday, so Mortgage Rates today should be Unchanged from those levels, or possibly a little better today (depending how much improvement the Lender priced in yesterday).  Yields are relatively Unchanged from yesterday's close, as it sits around 1.09%.  Keep an eye out on the Stimulus Package, as the size of it may push Yields higher again (thus hurting Mortgage Rates).

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, January 13, 2021

Daily Market Report 1/13/21

 http://MikesDailyMarketReport.com:  Today, we have consumer inflation report by Consumer Price Index (CPI).  The MoM data for December rose 0.4% and it's YoY rose from 1.2% to 1.4%.  However, it's Core CPI (excludes volatility from food and energy; and holds more weight in impact to Markets) rose only 0.1% in December and it's YoY remained Unchanged at 1.6%.  Stocks liked the inflation data and shows a lot of volatility in the Markets with current Political dramas, as the House is working on a second Impeachment process for President Trump; meanwhile, putting aside other matters, like the larger Stimulus checks they proposed prior to the elections.  Stocks are Up, after reversing the early selloff yesterday.  MBS is currently Up 19bps, but it's showing some more improvement (after I started this report) when the 30 year Bond Auction reported a positive day (MBS moving Up to 28bps).  Tomorrow will be important day to determine, if we've finally found some footing and recover some of the losses from last week.  But today, atleast, Mortgage Rates improved.  Yields have come off their highs; and hopefully found their ceiling.  They've come down to just under 1.10% currently.

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, January 12, 2021

Daily Market Report 1/12/21

 http://MikesDailyMarketReport.com:  We don't have any economic data to report today; however, there will be a 10 year Treasury Auction, which can impact the Markets especially; as Yields have been rising dramatically since last week amidst the big Selloff with no end yet in sight!  Stocks are Down this morning on much of the same concerns as yesterday.  Meanwhile, MBS continues it's heavy Selloff!  It's off from it's earlier lows, but still Down 17bps.  Lenders are already pricing Mortgage Rates higher.  We're down approximately 1.5 points (or 150bps), which translates that No Point Loan last week will now cost you approximately 1.5 % of the loan amount to obtain the same rate.  Yields continue their meteoric rise with no Technical levels slowing them down.  They're now up just under 1.18%.

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.