Friday, October 23, 2020

Daily Market Report 2/23/20

 http://MikesDailyMarketReport.com: The Markit Manufacturing PMI modestly rose by 0.1 to 53.3 in October; while it's couter-part, Markit Services PMI rose from 54.6 in September to 56.0 in October.  Stocks are trading a little light this morning and in Mixed Territory (S&P is only index in Positive Territory), as Investors continue to watch for any progress toward a new Stimulus Package.  Some Good News for Gilead, as it's remdesevir drug for hospitalized COVID patients gained FDA approval.  The Q3 Earnings Reports continue to be release, however, nothing big to report there.  MBS started lower, just above it's 100 DMA, and have moved upward, which it's currently Up 5bps from yesterday's close.  Mortgage Rates should be Unchanged from yesterday's pricing.  Yields seem to be showing some early signs of slowing down, as it topped 0.86%, but has since pulled back down to 0.84%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Thursday, October 22, 2020

Daily Market Report 10/22/20

 http://MikesDailyMarketReport.com: Initial Jobless Claims dropped to it's lowest level since March.  It was reported today that only 787k people applied for first time benefits last week, which is lower than forecasts of 860k.  Existing Home Sales jumped up to 6.54 million annualized sales in September from 6.0 million in August.  Leading Indicators were up 0.7% in September.  Stocks are Down this morning on growing concerns that a new Stimulus Package won't be completed prior to the Election, as this is deemed necessary.  Q3 Corporate Earnings are still being reviewed, including Tesla's, which was released.  Investors are watching the progress (or lack of) a New Stimulus Package; growing numbers of COVID cases, which may lead to more lockdowns; and the progress of Barrett's nomination toward Supreme Court.  MBS was testing it's 100 DMA, but has scaled back from it's earlier lows; and currently Down 6bps.  We're around the same level as yesterday, so we shouldn't see any changes in Mortgage Rates today.  However, Yields continue it's torrid pace, and are Up to around 0.85% now.

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 either direct message me, or visit http://michaelb.swmcretail.com



Wednesday, October 21, 2020

Daily Market Report 10/21/20

 http://MikesDailyMarketReport.com: No economic data to point out today.  The Stock Market is Up again today on continued optimism, as the White House and House are working on a deal for new stimulus; however, this could get help up by the Senate, whom have been calling for a smaller Stimulus package.  The Fed Beige Book, which provides us with a Micro view of the economy around the various regions in the US, will be released later today.  Q3 Corporate Earnings Reports continue to be released, whch a headline for Netflix disappointed, as they lost subscribers due to protests over one of their films (deemed highly inappropriate).  Like yesterday, we have a few more Fed Members speaking today.  MBS started the morning much lower and has since pulled back to being Down 6 bps from yesterday's close.  Yesterday, we were in this level, before pulling back.  We're in similar lows that we saw a few weeks ago; however, Yields didn't break the Technical level around 0.79%.  Yesterday, they broke above it, and sit just under 0.81% now.  Mortgage Rates are a little worse today, as a result.

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 either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, October 20, 2020

Daily Market Report 10/20/20

 http://MikesDailyMarketReport.com: The Housing Starts were revised lower in August, from 1.416 million annualized units to 1.388 million.  In September, they rose to 1.415 million.  Technically, they rose, but ultimately, it was nearly the same.  Building Permits (future Housing Starts) rose from 1.476 million in August to 1.553 million in September, exceeding forecasts of 1.520 million.  Stocks are in Positive Territory on news that there may be progress on a Stimulus Deal package.  Also, to note, that the DOJ has filed an Antitrust Lawsuit against Google, so stay tuned!  Q3 Corporate Earnings Reports are being released, but nothing big to report today.  Also, there are a few Fed Members speaking at their engagements today, so this could always be a Market Mover, as well.  MBS is currently Down 6bps.  They were denied by it's 25- and 50 DMA yesterday and lost ground by closing -9bps.  Coupled with yesterday's losses and today's, then Lenders will price Mortgage Rates slightly worse today.  Meanwhile, Yields are testing it's next Technical level (same one from a few weeks ago, which held the entire week); and sitting just under 0.78%.

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 either direct message me, or visit http://michaelb.swmcretail.com




Monday, October 19, 2020

Daily Market Report 10/19/20

 http://MikesDailyMarketReport.com: The NAHB Home Builders Index indicate the growing confidence with Home Builders in the month of October, as it rose from 83 in September to 85 in October.  Stocks started of in Positive Territory, but soon after, went into the Red.  The hopes for a Stimulus package prior to the election is quickly dwindling down, which this optimism is helping to prop up both stocks a yields.  The release of Q3 Corporate Earnings Reports will continue this week, which we have Netflix and Tesla being released this week.  Investors were impressed with China's report for Q3, which grew to 4.9% and pushing it closer to it's 2020 forecasts of 5.5% -6.0% range.  MBS started much lower this morning; however, as the Stock Market turned Red, then they rose to Unchanged pricing from Friday's close (still just below it's 25- and 50 DMA).  Pricing may have been a little worse this morning for the East Coast, but should have improved to Unchanged levels (based on Friday's close) on Mortgage Rates; and West Coast should be pricing in at the same levels as Friday's close.  Yields have been rising on optimism for a Stimulus package; and have rose above another Technical Level.  It's sitting around the 0.77% level.

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 either direct message me, or visit http://michaelb.swmcretail.com



Friday, October 16, 2020

Daily Market Report 10/16/20

 http://MikesDailyMarketReport.com: Retail Sales surprised investors, as it rose 1.9% in September on forecasts of 0.7%; even when you exclude Autos, it rose 1.4%.  This adds to the Consumer Sentiment, which rose from September's number at 80.4 to 81.2 in mid-October.  Capacity Utilization rose only by 0.1% to 71.5% in September; however, Industrial Production surprised the Markets with a drop of 0.6% on forecasts of an increase of 0.5%.  This is something that we'll need to watch, as it could indicate negative numbers for the economy.  Lastly, Business Inventories rose 0.3% in August.  Stocks are Up this morning on the Retail Sales and Consumer Sentiment reports.  The Q3 Corporate Earnings are still being released, but nothing of note to report.  Pfizer mentioned that they could potentially release a vaccine by end of November on an emergency basis, if needed, while cases around Europe and a few states in the US have increased.  Investors are still in hope of a Stimulus Package prior to next month's elections; which has the Democrats at $2.2 Trillion, Trump at $1.8 Trillion and Senate at $500 Billion.  Looks like an impasse to me!  MBS is currently Down 2bps, coupled with yesterday's late decline, may lead many Lenders to price more negatively today (most likely a difference of 0.125% in rate).  They broke below their 25- and 50 DMA.  Yields broke back above it's Technical level and sit just above it's 0.74%.

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 either direct message me, or visit http://michaelb.swmcretail.com


Thursday, October 15, 2020

Daily Market Report 10/15/20

 http://MikesDailyMarketReport.com: We have a mixed bag of economic data today!  The Import Price rose 0.3% in September (this is a low impact data point).  The higher data points include the following Manufacturing reports: The Philly Fed Index rose to 32.3 in October and the NY Fed Index rose 10.5.  However, the Initial Jobless Claims rose 58k from last week's report to 898k.  Stocks are Down, as we've been seeing weakness from them this week!  Sentiment toward possible higher COVID numbers and tighter restrictions in Europe, along with lack of progress on  another Stimulus package is weighing on Investors' moods.  More Fed Members are out speaking today; along with more Q3 Corporate Earnings Reports being released.  MBS is showing some uncertainty this morning, as it's tested both positive and negative directions, which we see by the star shape in the candle.  It's currently Up  3bps; however, yesterday, we closed Up 13bps.  You should see better pricing with Mortgage Rates today.  Yields have pulled back a bit from earlier lows, which tested it's 25 DMA; however, now it's sitting just under 0.72%.

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 either direct message me, or visit http://michaelb.swmcretail.com


Wednesday, October 14, 2020

Daily Market Report 10/14/20

 http://MikesDailyMarketReport.com: The Producer Price Index, or PPI, rose 0.4% in September; same for the Core PPI, which excludes food and energy.  The Core PPI jumped from 0.6% in August to 1.2% in September on a Year over Year (YoY) basis.  Surprisingly, this hasn't had much impact on the Markets.  Stocks are Up this morning.  Yesterday, they were all in Positive Territory; however, after I provided my report, the DOW and S&P went into the Red.  We have more financial companies and banks releasing their Q3 Corporate Earnings today, which is having the most impact in the Market; however, the recent pause for Pharm Companies J & J and Eli Lilly pausing their trials have some investors concerned over another wave of outbreak.  There are several Fed Members speaking today, which may have some impact in the Market.

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 either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, October 13, 2020

Daily Market Report 10/13/20

 http://MikesDailyMarketReport.com: The Consumer Price Index, or CPI, rose only 0.2% in September, as did it's Core CPI; however, it's YoY rose from 1.3% to 1.4% and it's Core remained Unchanged at 1.7% YoY. Stocks started the Morning in Positive Territory, as Q3 Corporate Earnings Reports begin to be released.  Today, we're seeing a lot of Banks and Financial Institutions releasing their's.  Johnson & Johnson paused their vaccine trials, as they experienced some issues.  Apple and Amazon begin their special events today, as Apple is set to announce their new 5G capable iPhones and Amazon begins their 2 day Sales Event, Prime Day!  MBS had a Bond Rollover on Friday, which is why the chart looks like it worsened; but in reality, it improved by 18bps so far this morning.  The Rollover is simply a reset in pricing, as October's MBS are packaged to be sold in the Market; and now we begin November's batch of MBS.  Yields have slipped below it's Technical level and approaching the next level below it.  It currently sits just under 0.74%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Friday, October 9, 2020

Daily Market Report 10/9/20

 http://MikesDailyMarketReport.com: The Wholesale Inventories rose 0.4% in August.  Stocks are in Positive Trading on continued optimism of another Stimulus package.  The talks are ongoing and seem to be mixed; however, this isn't affecting the optimism by the Investors.  MBS opened below the 25- and 50 DMA and have crept up higher, but it's still Down 2bps from yesterday's close.  Yesterday, the MBS lost more ground and closed just above it's 25 DMA.  This combined loss of support has led Lenders to price Mortgage Rates a bit higher today.  Yields are testing both it's floor and ceiling and moving within it's range.  It's currently at 0.77%.

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 either direct message me, or visit http://michaelb.swmcretail.com


Thursday, October 8, 2020

Daily Market Report 10/8/20

 http://MikesDailyMarketReport.com: Initial Jobless Claims rose this week to 840k; up from last week's initial of 837k, which was revised a bit higher to 849k.  Stocks are in Positive Territory, as Investors are feeling more renewed optimism on some sort of Stimulus package coming sooner, than later.  MBS started the morning higher, but has pulled back some; and is Down 2bps.  Mortgage Rates remain Unchanged.  There are some possible positive signs developing for some improvement (see video on that).  Also, Yields are being held in check with it's Technical level (just under) the 0.79%; and it's currently at 0.77%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Wednesday, October 7, 2020

Daily Market Report 10/7/20

 http://MikesDailyMarketReport.com: The only economic data to report will come out at 11am PST, which is the Meeting Minutes from the FOMC last month.  Stocks rebounded from yesterday's close; and are currently Up today.  Last night, about an hour before Market close, President Trump tweeted out that he instructed the Republican Senate to halt negotiations with the Democrats on a second Stimulus package until after the election; and accused them of dealing in bad faith.  However, a few hours later (after Market close), he tweeted that he'd be more than willing to send out individual Stimulus components (including the $1200 individual checks, funds for airlines and replenishing PPP).  This reversed the Market Sentiment overnite to this morning's opening.  Also, Investors will be watching Big Tech (namely the FAANG) stocks, as a critical report was released by the House Judiciary Anti Trust, Commercial and Adminstrative Law Sub Committee regarding them as Monopolies.  MBS started the morning lower; however, it has improved to being Down 14bps from yesterday's close (yesterday, after the tweet, it jumped Up and closed +23bps).  So, Mortgage Rates remain Unchanged from yesterday's pricing, except for Lender improved pricing at the end of the day.  Meaning, Mortgage Rates are a bit higher from yesterday's close (after late Market improvement), but the same pricing we saw for most of the day yesterday.  Yields are back Up this morning too; and sit at 0.77%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, October 6, 2020

Daily Market Report 10/6/20

 http://MikesDailyMarketReport.com:  This week is light for economic data, which we have none to share today.  Stocks are currently in Negative Territory, as Fed Chair Powell presented a speech this morning and reiterated the Fed's stance on more stimulus being needed from Congress; and it's better to give too much, than not enough.  Otherwise, the economy will grow more slowly compared to receiving more stimulus; and more businesses may close and/or file for bankruptcy.  MBS is fighting to stay above it's double floor of support (25- and 50 DMA); and currently Up 2bps.  There's a lot of uncertainty in the Market, as the long wicks on both ends of the candle indicate.  Mortgage Rates remain Unchanged from yesterday's close.  Yields broke above a few Technical levels yesterday and sitting at 0.78%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Monday, October 5, 2020

Daily Market Report 10/5/20

 http://MikesDailyMarketReport.com: The ISM Non-Manufacturing PMI dipped a little in September, as it went from 57.8 to 56.9.  This is still in expansion territory!  Stocks are Up, as it is being reported on President Trump's recovery from COVID is improving, and he may be released from Walter Reed today.  Investors are reviewing the Election Polls and any hope for a Stimulus Package to be done soon.  Meanwhile, MBS has Dropped 22bps and have been testing it's double-layer of support (25- and 50 DMA).  This will tend to lead to a little bit higher Mortgage Rates today (usually about 0.125% to the rate).  Yields have skyrocketed above another Technical level and sit at 0.76%.  We'll see if they can hold this level.

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 either direct message me, or visit http://michaelb.swmcretail.com



Friday, October 2, 2020

Daily Market Report 10/2/20

 http://MikesDailyMarketReport.com:  The Jobs data was a bit disappointing today, as the BLS reported that only 661k jobs were created in September.  Even though, the Unemployment Rate dropped down to 7.9%, the numbers indicated that fewer people are participating in the Labor Market, as the Labor Participation Rate dropped a bit.  The Average Work Week slightly gained from 34.6 hours per week, to 34.7 in September; and the Average Hourly Earnings rose only 0.1%.  However, Consumer Sentiment rose from 78.9 to 80.4 in September.  Lastly, Factory Orders rose 0.7% in August.  Stocks are Down on the news of POTUS and FLOTUS' recent diagnosis with COVID.  Investors will reevaluate if this might impact the upcoming election.  Also, they're still waiting for another Stimulus package to be agreed upon and implemented, in order to move the economy forward.  Meanwhile, MBS is Down 9bps.  They were up ealier in the day, so the East Coast Lenders may be poised to reprice for the worse; while the West Coast should remain Unchanged.  This shift happened as news broke about POTUS and FLOTUS.  Yields are climbing, and are currently sitting at 0.70%,

Sorry for being MIA the past few days.  Had some personal things to take care of.  I will continue these videos, but for the next week, they will be out a little later than normal.  Afterwards, it should go back to normal.  Sorry, for any inconveniences!

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 either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, September 29, 2020

Daily Market Report 9/29/20

 http://MikesDailyMarketReport.com: The Case Shiller Home Price Index jumped from 4.3% YoY appreciation in June to 4.8% in July.  Nice spike!  Also, Consumer Confidence jumped from 86.3 in it's previous report to 101.8 in it's September report.  Stock indices are all in Negative Territory, as Investors pull back from last 2 days of buying, and before tonights US Presidential Debates.  Meanwhile, Congress is still working toward another Stimulus round.  The Democrats released $2.2 Trillion plan, which is meeting some resistance from Senate, as many want it scaled back a bit.  Mnuchin and Pelosi continue dialogue that will hopefully find a bill that will benefit the people and the economy.  MBS is currently Up 6pbs.  It's had it's ups and downs this morning, per the wicks in the candles indications.  Lenders may price a little better today for Mortgage Rates; but some, may play it more safe and keep it Unchanged.  Yields are challenging it's 25 DMA and sitting at 0.64%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Monday, September 28, 2020

Daily Market Report 9/28/20

 http://MikesDailyMarketReport.com: There are no economic data to report today; but this week's Jobs Reports will be our Primary focus.  Stocks are Up this morning.  It's partly due to buyers coming back into the Market after several days (last week) of selling and some optimism for a 2nd Stimulus Package, based on recent comments by Nancy Pelosi.  China reported increased profits in their Industrial Sector, which is generating better sentiment to improving global economy.  Also, a Federal Judge blocked the ban on TikTok, as US and China have been facing rising tensions.  MBS started the day lower; however, it's currently Up 3bps.  Mortgage Rates remain Unchaged from Friday's pricing.  Yields showed some movement toward it's 100 DMA, but has pulled back between 100- and 25 DMA.  It's currently at 0.66%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Friday, September 25, 2020

Daily Market Report 9/25/20

 http://MikesDailyMarketReport.com: Durable Goods Orders' MoM for August disappointed, as it only represented 0.4% growth; after a 11.7% for July.  The CapEx rose 1.8%, which wasn't too bad.  This is the data for Durable Goods Orders without the big ticket items (like transportation, defense, air planes), which can make the numbers a bit lopsided.  Stocks are trading in Positive Territory this morning without much headline news to report.  Investors are still looking toward some resolution for another Stimulus Package from Congress.  MBS is Up 13bps, breaking above it's double-layer of resistance (25- and 50 DMA).  This has led Lenders to provide better pricing today for Mortgage Rates.  Yields are slipping below it's 100 DMA, and sitting just a bit higher than 0.65%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Thursday, September 24, 2020

Daily Market Report 9/24/20

 http://MikesDailyMarketReport.com:  Weekly Jobless Claims were revised higher by 6k in last week's report; and came in about 4k higher this week from the revised number, at 870k.  A silver lining is New Home Sales, as they jump to 1.01 million annual units for August.  This is the first time since 2006 since they've topped the 1 million mark!  Stocks have been tip-toeing back-and-forth between positive and negative territory this morning; however, as I did this video, all 3 indices were in Positive Territory.  The Market is being influenced by the gridlock with Congress on a 2nd CARES plan and worries over a possibly long drawn out legal battle over the  upcoming US Presidential elections.  Treasury Secretary Mnuchin and Fed Chair Powell continue with their 3rd day of testimony before Congress; as they sit before a Senate Committee today.  Also, there are a number of Fed Members speaking today.  We don't anticipate any market movement from these latter Fed talk.  MBS is challenging it's 25 DMA and just below it's 50 DMA, as it tries to break above.  It's currently Up 9bps.  Mortgage Rates will be a little better priced today, as the Market had slight improvement yesterday, along with the current movement.  Yields are still trending between it's 100- and 50- DMA, as it sits just a hair below 0.67%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Wednesday, September 23, 2020

Daily Market Report 9/23/20

 http://MikesDailyMarketReport.com: We have reports from Markit PMI for the month of September to report today.  The Market Manufacturing PMI rose from 53.1 to 53.5; and the Markit Services dipped from 55.0 to 54.6.  These are MoM from August to September numbers; and anything above 50 represents expansion.  Stocks are Down, even though they initially started positive, this morning.  It's a culmination of a variety of headline news, which has Treasury Secretary Mnuchin and Fed Chair Powell testifying for the 2nd day before another subcomittee in the House.  Johnson & Johnson becomes the 4th manufacturer to begin the final stage for COVID vaccination testing.  US and China are showing some more tit for tat type of behaviors, as President Trump calls out China for their role in the spread of the Coronavirus Pandemic; and China is considering blocking the sale of TikTok to US companies.  Investors are also concerns over possible legal hurdles that may take place after the US elections, as both parties fight for control.  There are a number of Fed members speaking today, which we don't anticipate any surprises, as the FOMC made their announcement last week.  MBS is currently Up 2bps, so Mortgage Rates continue to move sideways and remain Unchanged.  Yields are testing their 25 DMA and another Technical level; and currently sit near 0.68%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, September 22, 2020

Daily Market Report 9/22/20

 http://MikesDailyMarketReport.com:  Existing Home Sales improved from 5.86 million annualized units in July to 6.00 million in August.  Meanwhile, Stocks are trading in Mixed Territory, as the DOW is lone index in the Red.  Some of the sentiment from yesterday is continuing into today's trading.  Investors are watching for possible renewed lockdown measures in Europe; and the heated debates between the 2 political parties regarding the replacement of RBG and any stimulus packages.  Treasury Mnuchin and Fed Powell are testifying before House Finance Committee this morning.  MBS is only Up 2bps, so Mortgage Rates remain Unchanged today.  Yields having swings that challenge both it's 25- and 100 DMA is currently sitting between the 2 lines (around 0.67%).

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 either direct message me, or visit http://michaelb.swmcretail.com



Monday, September 21, 2020

Daily Market Report 9/21/20

 http://MikesDailyMarketReport.com:  There are no economic data to report today, so Markets are looking to the headlines today.  Stocks are WAY Down this morning on concerns of more restrictions in Europe, as they saw some of their COVID Cases rise.  Also, a major news article from Buzzfeed, which other outlets followed, on some Major Banks working with some very notorious people (not in a good way) on Money Laundering schemes.  Also, Investors are seeing if there is any impact on the death of US Justice Ginsberg and possible replacement, as politics heats up.  They're also watching for any news on an Stimulus package, which they still view as being necessary in a recovery.  MBS is currently Up 13bps, so Mortgage Rates are improved from Friday's close.  We should be on par with pricing found last Wednesday.  Yields are Down (below both it's 25- and 100 DMA) to just under 0.66%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Friday, September 18, 2020

Daily Market Report 9/18/20

 http://MikesDailyMarketReport.com:  The Consumer Sentiment improved so far in September, as it jumped to 78.9 from August's 74.1.  The Leading Economic Indicator had a positive revision in July, going from 1.4% to 2.0%; however, it dropped to 1.2% in August.  Stocks are all in the Red this morning, threatening to ruin this week's gains in the Market.  There is a Quadruple Witching in today's trading action, which will create a lot of this volatility in the Stock Market.  We had a few Fed Speakers speak today, which are having some impact, especially with the Bond Market, as Fed Member Bullard discussed possibilities of inflation rising (inflation is the enemy to Bonds), which included a bottleneck in the supply chain.  MBS started the morning higher, only to give up those gains.  We're currently Down about 2bps.  All week, we've been going in a sideways pattern; so, there hasn't been much, if any, movement with Mortgage Rates this week.  Yields continue their slight incline, as they grapple with it's 25 DMA and a Technical Level (just above it).  It's currently sitting around 0.69%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Thursday, September 17, 2020

Daily Market Report 9/17/20

 http://MikesDailyMarketReport.com:  The initial Jobless Claims reported 860k people applying for first time unemployment last week, which is down from 893k in it's previous report.  Housing Starts pulled back in August, as it went from 1.49 million annualized units in July to 1.42 million in August.  Also, Building Permits dropped from 1.48 million in July to 1.47 million in August.  Manfacturing in Philadelphia region was down a little bit, but still in decent territory, in it's September report for Philly Fed Manufacturing, as it came in at 15.0.  Stocks are Down this morning, as Investors' mood were less optimistic of a quick recovery.  The Fed is providing all the right tools, which is positive, but they also indicated all of the unknowns and indicated this could be longer than what most had hoped for.  MBS started the day much higher, but has since rescinded and is only Up 3bps (below it's 25- and 50 DMA); so, Mortgage Rates remain Unchanged from yesterday's pricing.  Yields are still testing both their floor and ceiling, but have been sitting in the space between it's 25- and 100 DMA.  It's currently at 0.68%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Wednesday, September 16, 2020

Daily Market Report 9/16/20

 http://MikesDailyMarketReport.com: Retail Sales MoM of 0.6% was a bit of disappointment for Investors this morning; and when you exclude Autos, it only went up 0.7% for August.  Not to be surprised, but NAHB Home Builders Index rose from 78 to 83 in September, as confidence is rising among Home Builders.  Business Inventories only increased by 0.1% in July.  Stocks have been in Mixed Territory, but have since moved in Positive Territory, as it awaits the FOMC Announcement and it's Press Hearing.  This will be a very interesting Press Hearing after the Fed announced a "Big" change to their policy about 2.5 weeks ago.  There will be a lot of questions and interest to see if it was a prelude to something more to come (being announced at this meeting).  MBS is currently Down 2bps; however, Mortgage Rates remain Unchanged from yesterday's pricing.  Yields still sit between it's 25 DMA and 100 DMA; just under 0.68%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, September 15, 2020

Daily Market Report 9/15/20

 http://MikesDailyMarketReport.com: The Manufacturing in the NY region spiked in September, as the Empire State Index reports it went from 3.7 in August to 17.0 in September.  Industrial Production Index reported an increase of 0.4% in August; while Capacity Utilization improved from 71.1% in July to 71.4% in August.  Stocks are Up this morning on some Tech News, as some Mergers being announced (like NVidia's announcement); and Apple will present some of their new product lines today.  The FOMC begins their 2 day meeting today and provide their announcement tomorrow.  This will be an interesting meeting, as media and investors have a lot of questions for the Fed regarding their big announcement about 2.5 weeks ago with their new "average" inflation target related to jobs policy change.  MBS lost their footing later in the day yesterday, as the Stock Market had begun to heat up, and closed down 9bps.  This morning, it's currently Down 5bps, so Lenders will price Mortgage Rates a little worse today.  Yields are trying to break above it's 25 DMA and currently sits at 0.68%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Monday, September 14, 2020

Daily Market Report 9/14/20

 http://MikesDailyMarketReport.com:  We don't have any Economic Data to report today, but the rest of the week (starting tomorrow) will be full of reports.  Today, Stocks are taking their queues from the headline news (namely reported over the weekend).  Astra Zeneca announced they'll be re-starting their vaccine trials, after a pause when one of the patients mysteriously became ill.  Pfizer reported that they're near end of trials and may have vaccines out by end of year.  Also, it appears that Oracle may have become the winner of the TikTok sweepstakes, as several US companies were competing for it's rights.  It was facing a ban in the US, if it was controlled by a US company.  This has generated a optimistic mood in the Markets today.  MBS started a bit lower, which may have led pricing on the east coast to be a little worse than Friday's; however, it's currently Unchanged from Friday's close, as the west coast starts to roll out their pricing.  Mortgage Rates are Unchanged.  Yields are also Unchanged from Friday's close, as it is currently sitting at 0.67%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Friday, September 11, 2020

Daily Market Report 9/11/20

 http://MikesDailyMarketReport.com: Today, we received data on inflation for Consumers with the Consumer Price Index, which had a MoM of 0.4% in Aug.; as did it's Core CPI (excluding food and energy).  The Core CPI's YoY rose from 1.6% to 1.7%.  We'll keep an eye on this data, as we'll want it to plateau at some point, and not go out of control.  Meanwhile, there is light trading today in Stocks, which are all currently in Positive Territory.  There is still some correction/re-balancing going on (especially with Tech Stocks); and Investors are growing pessimistic on a new Stimulus Bill prior to the November elections, as the Democrats defeated a Republican Bill in the Senate (this was expected).  MBS went thru a Bond Rollover today.  On the chart, it will appear to be lower; but it doesn't affect our pricing, as it's just a reset for the MBS on October's purchases of these MBS bundles.  We had improvement from yesterday, as it was down 9bps when we did the video, which reversed and closed up 5 or 9bps in positive territory.  Today, we're currently Up 11bps.  Coupled with yesterday's improvement and today's current standing, Lenders are poised to price Mortgage Rates better today.  One caveat to mention is the new FHFA g-fee that was re-scheduled to December will be priced into loans next week.  This is a 0.5% point fee that they elected to add onto any refinance with conventional loans (Fannie Mae or Freddie Mac).  This does not affect purchase transactions or other loan programs (like FHA, VA, USDA, Jumbo, etc...).  The new fee will increase the Mortgage Rates by approximately 0.25% to 0.375% to the interest rate.  If you're floating or on the fence, then I'd suggest hurry and lock prior to this fee being added on.  On the flip side, we have Yields, which have weakened a bit; and currently sits around it's 25 DMA at 0.67%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Thursday, September 10, 2020

Daily Market Report 9/10/20

 http://MikesDailyMarketReport.com:  Initial Jobless Claims remained unchanged from last week's report of 884k people applying for unemployment, which was a little hotter than it's forecast of 846k.  Inflation in the Wholesale Sector rose in August, as the Producer Price Index rose 0.3% MoM; and it's Core PPI (excluding food and energy) rose 0.4%.  Lastly, the Wholesale Inventories dropped in July by 0.3% MoM.  Stocks are trading in Positive Territory this morning.  The ECB gave their announcement earlier in the morning, as they left their interest rate at -0.5% and stated that they feel the Q3 and Q4 will show improvement.  There were some concerns regarding the strength of the Euro asked upon Christine Lagarde whom felt the stronger Euro isn't a concern at this time.  MBS is trading between a range of it's 25 DMA (ceiling) and 50 DMA (floor); as it's currently Down 9bps and testing the 50 DMA.  This isn't enough for Lenders to worsen pricing; so, Mortgage Rates remain Unchanged from yesterday's pricing.  Yields have climbed a bit further today, as they now sit around 0.72%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Wednesday, September 9, 2020

Daily Market Report 9/9/20

 http://MikesDailyMarketReport.com: There are no economic data to report today.  Stocks are finally Up this morning after a brutal few days of negative trading.  AstraZeneca announced a delay with their vaccine, as they sort out a patient whom became sick without any explanation.  Also, Joe Biden announced his proposal for a Corporate Tax that will punish those whom offshore their profits and incentives for those whom create jobs in the US.  There's really no catalyst today that's a direct influence on the Markets.  MBS is currently Down 8bps, as it re-tries to test it's 25 DMA.  There is a 10 Yr Treasury Auction later today that could potentially have influence with the Markets, so stay tuned!  The Yields have climbed a bit and testing a Technical level; and sitting just a hair below 0.70%.

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 either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, September 8, 2020

Daily Market Report 9/8/20

 http://MikesDailyMarketReport.com:  The NFIB Small Business Index rose from 98.8 in July to 100.2 in August.  This index indicates the confidence level for Small Business Owners, which make up the bulk of employment for US jobs.  Stocks are taking another beating today.  President Trump indicated over the weekend that he wants the US to not rely on China for manufacturing and wants to bring those manufacturing jobs back to the US.  China's response was to start manufacturing their own microchips/processors and not be reliant on US Technology, which is especially hurting the Tech Stocks.  Also, the CEOs for the Big Pharma companies whom are working on the COVID-19 vaccinations pledged to release only vaccinations that are safe and ready to be released to the public (looking for vote of confidence).  MBS were up early in trade, but has pulled back (just below it's 25 DMA) so far this morning.  It was Up 20 bps earlier, so Lenders on east coast would start off with better pricing; however, the pull back has rescinded about 11bps;  and MBS is currently Up only 9bps.  This means that Lenders on east coast are most likely looking to reprice for the worst, while the west coast is showing pricing similar to what we saw on Friday.  Yields have come down to 0.68% so far this morning.

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 either direct message me, or visit http://michaelb.swmcretail.com



Friday, September 4, 2020

Daily Market Report 9/4/20

 http://MikesDailyMarketReport.com: Non-Farm Payrolls came in with 1.371 million new jobs for the month of August; and the Unemployment Rate dropped from 10.2% to 8.4%.  Average Workweek hours slightly rose by 0.1 hrs to 34.6 hrs.  Stocks are having another bad day, as Investors appear to be profit taking and rebalancing their portfolios.  MBS is Down 19bps currently, as it dropped below it's 25 DMA and approaching it's 50 DMA, as it's next level of support.  This will lead Lenders to price Mortgage Rates a little higher today than yesterday's pricing.  Yields have climbed above several layers today and currently sit just under 0.69%, which is it's next level of resistance.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Thursday, September 3, 2020

Daily Market Report 9/3/20

 http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped from an upward revised number last week of 1.011 million people applying for first time benefits to this week's 881k.  The Final revision to Labor Costs dropped from 12.2% to 9.0% in Q2; and Productivity rose from 7.3% to 10.1%.  ISM Non-Manufacturing PMI dipped from to  58.1% in July to 56.9% in August.  However, the IHS Markit Services PMI increased from 54.8 in July to 55.0 in August.  Anything above 50 in these 2 indices indicate growth/expansion.  Stocks are WAY Down this morning, being led by Tech Stocks.  This looks like a bit of a correction, but also Investors are getting a bit discouraged by the lack of progress from Congress on a Stimulus package.  MBS is trending upwards, and currently Up 8bps, which means that Mortgage Rates are improving.  Yields have fallen pretty hard, and currently down below it's triple layer of support.  It's currently sitting just under 0.62%.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Wednesday, September 2, 2020

Daily Market Report 9/2/20

 http://MikesDailyMarketReport.com:  ADP Payroll reported a positive revision to their July data, from 167k to 212k.  They reported that August had 428k new jobs, which is well below the forecast of 950k.  Factory Orders had a positive revision in June, which they had a MoM improvement from 6.2% to 6.4%; which they maintained that same pace in July, as it jumped up 6.4% again in July.  Stocks are trading in Positive Territory this morning.  Bloomberg reported that Treasury Secretary Mnuchin and Nancy Pelosi are resuming talks regarding Stimulus Package, which is viewed as a necessity to get the economy back in order.  Also, Dr. Fauci stated that vacciness may be here sooner than later.  Meanwhile, MBS is Up 3bps.  We've seen improvements later in the day in the MBS Market, which yesterday was no exception, as it closed +14bps.  When you look at yesterday's improvement and today's continuation, then you will find Lenders providing a little better pricing with their Mortgage Rates.  Also, the MBS is above it's 25 DMA and trending upward.  Yields, however, have been trending lower, and are now testing it's 100 DMA.  It's just slightly higher than 0.65%.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Tuesday, September 1, 2020

Daily Market Report 9/1/20

 http://MikesDailyMarketReport.com: The IHS Markit Manufacturing PMI rose from 50.9 in July to 53.1 in August.  The ISM Manufacturing PMI rose from 54.2% in July to 56.0% in August.  This is the highest reading since January 2019 for ISM.  Any number above 50 is considered growth, expansion.  Globally, we're seeing improvements with China and Europe too.  Construction Spending only increased 0.1% in July.  Stocks are Up this morning, as the Technology Sector continues it's lead in the Markets.  Investors are beginning to reevaluate their positions in the Market, which we could see some corrections in the near future, as much of the trading has been based on optimism.  The reality may not have reached the optimism level yet.  MBS is currently Up 8bps.  Market closed higher (+16bps) yesterday, which many Lenders repriced with better pricing.  Based on yesterday's reprice and this mornings gains, then Lenders will have better pricing than yesterday mornings rates, but similar to yesterday's close.  It's approaching it's 25 DMA, which is now a ceiling.  Yields were a bit higher (about 0.73%), but have subsided to just under 0.70% now.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Monday, August 31, 2020

Daily Market Report 8/31/20

 http://MikesDailyMarketReport.com: There are no data to report from economic report.  This week will provide us Jobs data from the month of August.  Meanwhile, Stocks are in Mixed Territory, as the NASDAQ is the only index in Positive Territory; and the DOW is currently Down 200+ points.  The FDA provided some optimism, as we approach the final stages for a few Pharmaceuticals' vaccinations research; which they stated the possibility to safely expedite the process of getting the vaccines out to the public.  A few Fed Officials were speaking today; and Richard Clarida reiterated his support for the Fed's announcement last week to it's change of policy of "average" of 2% inflation.  He stated that the economy has changed from the past, which would link the unemployment rate and inflation together, known as the "Phillips Curve", had started losing it's power about a decade ago.  We found out that even with very low unemployment that inflation didn't skyrocket.  China announce some additional restrictions regarding selling of AI technology outside the country, which may create some issues with the sale of TikTok in the US.  MBS is currently Up 3bps and sitting just above it's 50 DMA.  In turn, Mortgage Rates remain Unchanged from what we saw on Friday.  Yields have come down a bit.  They're testing it's new floor of support; and are just under 0.71%.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Friday, August 28, 2020

Daily Market Report 8/28/20

 http://MikesDailyMarketReport.com: Inflation rose a little bit in the month of July, as the Personal Consumption Expenditure rose 0.3% MoM; and increased it's YoY from 0.9% to 1.0%.  When you remove the Food and Energy, then you have the Core PCE (the Fed's favorite measure for inflation), which also rose 0.3% in July; and it's YoY rose from 1.1% to 1.3%.  The Consumer Spending rose 1.9% in July, as it's counter-part, Personal Income, rose 0.4%.  The Chicago PMI, which measures the manufacturing in the Chicago region, had a slight dip in August, as it went from 51.9 in July to 51.2 in August.  Anything above 50 is considered expansion.  Consumer Sentiment rose slightly in August, as it went from 72.8 in July to 74.1 in August.  Stocks are Up this morning, especially considered the Fed's move yesterday, as they announced they will make a policy change from having a 2% target rate for inflation to averaging 2%.  They will look more closely on employment and allow inflation to run a bit (moderately) hotter than in the past.  Investors love this, as it will help Equities.  The Fed will most likely leave the Fed Funds Rate down for some time.  However, don't be confused this will help Mortgage Rates, as this typically has an ADVERSE effect on Mortgage Rates.  To put it mildly, Inflation is the arch-enemy to MBS/Bonds, and that effect, Mortgage Rates, as it erodes the value of these investment vehicles because they are fixed over a long period of time.  Currently, the Fed has been purchasing MBS, which has been propping up Mortgage Rates, but for how long?  Currently, MBS is Up 14bps, but Mortgage Rates are slightly better than yesterday's close.  MBS dropped 25bps and led many lenders to re-price for the worse 2x yesterday; so, we're priced somewhere in the middle today.  Yields are continuing it's pressure on MBS, as it's still above the important ceiling, which has become a new floor of support; and sits just above 0.73%,

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 either direct message me, or visit http://michaelb.swmcretail.com.



Thursday, August 27, 2020

Daily Market Report 8/27/20

 http://MikesDailyMarketReport.com: Initial Jobless Claims improved from last week's report to 1.006 million people applying for Unemployment for the first time.  The second look of Q2 GDP dropped from -32.9% to -31.7%.  The final revision will come next month.  Pending Home Sales continue to show a robust Market, as it increased 5.9% in July (MoM).  Stocks were in Positive Territory early on, even after Fed Chair Jerome Powell presented his speech during the Jackson Hole Summit.  However, it just started to become mixed, as much of the Market left it's earlier highs and NASDAQ dipped into the Red.  I believe the Market is reassessing it's position after the new policy statement by the Fed Chair.  Essentially, he stated they'll be shifting from a strict 2% inflation target rate to an average of 2% inflation rate.  They will emphasize jobs.  However, they won't hesitate to jump in with higher rates to stave off inflation, if it becomes out of hand.  This news was ok with the MBS/Bond Market, but when stocks started to take off, then investment dollars flowed over from MBS/Bond to Stocks.  Currently, MBS is Down 19bps and testing it's 50 DMA.  Mortgage Rate worsened from yesterday's pricing.  Yields have dramatically climbed and currently testing it's ceiling.  This ceiling is important, as it has held strong in the past; thus, keeping Mortgage Rates low.  If it breaks above this level, then it will add additional stress to MBS and Mortgage Rates will rise.  Yields are currently sitting just under 0.74%.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Wednesday, August 26, 2020

Daily Market Report 8/26/20

 http://MikesDailyMarketReport.com: The Durable Goods Orders surprised to the positive side today, as it jumped up from June to July by 11.2%; however, when you remove Transportation, it only jumped up by 2.4%.  Stocks are (again) in Mixed Territory, as DOW continues it's recent path in the Red.  There hasn't been any catalysts to really dictate the Markets, so Investors will be watching tomorrow's speech by Fed Chair Jerome Powell.  Typically, they'd be in Jackson Hole, WY; but due to the recent events, it will be viewed online.  This will be especially important for Mortgages because he has recently talked about letting inflation rise above the 2% target rate.  If you're not aware, then MBS are bonds, which are long-term investments.  Inflation is the enemy of bonds because it takes away it's value over the term of the investment.  This could potentially have a big impact on Mortgage Rates, depending upon what he states on this topic.  Currently, MBS is Down 5bps, so Mortgage Rates remain Unchanged from yesterday's pricing.  Yields are hovering just above 0.71%.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Tuesday, August 25, 2020

Daily Market Report 8/25/20

 http://MikesDailyMarketReport.com: The Case Shiller Home Price Index rose 4.3% in June.  Consumer Confidence dropped from 91.7 in July to 84.8 in August.  However, we do have a silver-lining with New Home Sales, as it jumped from 791k in June to 901k in July.  Stocks are in Mixed Territory this morning, as the DOW is the lone index in Red today.  It's down a little more than 100 points.  The US and Chinese counter-parts finally connected to review the Phase One Agreement, which was being reported as being constructive and went well.  Also, the DOW elected to shift some of it's weighted balance of it's index by moving some of the companies around with their new adjusted weights.  MBS is Down 19bps this morning and reaching the low levels that we saw about 2 weeks ago.  So, Lenders will price Mortgage Rates a bit worse today.  Meanwhile, Yields have shot back up to the levels found about 2 weeks ago too; and currently just sits below 0.71%.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Monday, August 24, 2020

Daily Market Report 8/24/20

 http://MikesDailyMarketReport.com: There are no economic data to report today, but there will be some important data to be reporte the remaining parts of this week.  Stocks are Up this morning, as we approach closer to some treatments and vaccinations for COVID-19.  The FDA is approving the use of Plasma for treatment of COVID -19 patients; and President Trump is opening the door for the possibility of Astra Zaneca's vaccination to be approved to be used in the US.  Meanwhile, MBS is hovering around it's 25 DMA still and testing it.  It's currently Up 5bps; so Mortgage Rates continue to move more in a sideways pattern and remain Unchanged from Friday's pricing.  Yields are hovering around it's 50 DMA and sitting around 0.64%.

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 either direct message me, or visit http://michaelb.swmcretail.com.


Friday, August 21, 2020

Daily Market Report 8/21/20

 http://MikesDailyMarketReport.com:  The Markit Manufacturing PMI improved from 50.9 in July to 53.6 in August.  The Markit Services PMI improved from 50.0 in July to 54.8 in August.  So, according to Markit PMI, both the Manufacturing and the Services Sectors of our economy show signs of improving.  Also, Existing Home Sales topped June's record of 4.70 million annualized units to 5.86 million in July.  This is due to new trends of people leaving the urban areas to suburbs and rural areas, as many realize they don't need to live in the urban areas to work, as they can work remotely.  Stocks are Up and inched up higher on the economic data being reported today.  Investors are also watching for signs on China, as they try to come together and review the progress on Phase One, but US side has been reluctant.  Some of the drug companies, like Pfizer, have announced that they should come to Market with a vaccine by October.  Also, watching the progress (or lack thereof) of a new Stimulus Package, as it's seen to be a matter of when, not if.  It's deemed as essential to get the economy back into shape.  MBS keeps showing signs that it wants to go higher, but seem to lose steam during the trading day.  So, like most of this week, Mortgage Rates appear to be Unchanged from yesterday's pricing.  It's been testing it's 25 DMA, which has been holding.  At some point, I think it will rise, as it's searching for some catalyst to boost it.  Yields have fallen a bit more and currently sit just under 0.64%, and near it's 50 DMA.

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 either direct message me, or visit http://michaelb.swmcretail.com.


Thursday, August 20, 2020

Daily Market Report 8/20/20

 http://MikesDailyMarketReport.com: The Initial Jobless Claims reported today was a bit of a disappointed after last week's (revised) 971k people applying for first time unemployment benefits, jumped back above the 1 million mark at 1.11 million for last week.  The Manufacturing in the Philadelphia dropped a little in August, but remains relatively good, as the Philly Fed Index dropped from 24.1 to 17.2.  Also, the Leading Indicators show more regression in the upcoming months, as it went from 3.0% in June to 1.4% in July.  Stocks are Up a bit this morning, but Investors are still worried that an Stimulus Packages hasn't been agreed upon yet, as they  view this as essential to any recovery.  The FOMC Minutes clouded the view of a recovery, as they view July's position even more uncertainty of the economy than June's meeting.  MBS has started a bit of a new trend that they're gradually improving, but at a slower pace.  They're starting the day much higher, but pull back late in the day (losing most of the gains from the day).  Currently, it's sitting just above it's 25 DMA and Unchanged from yesterday's close.  Mortgage Rates will be priced about the same as yesterday's pricing; or in some cases (due to last week's FHFA's tax on refinances on conventional loan refinances) could be a little worse, as Lenders are still adjusting to this new tax.  Yields are currently below that double layer of support (the 100 DMA and technical level) and is sitting just under 0.65%.  It did touch off it's 50 DMA earlier, but has since pulled back from it.  But it's trending back in that direction.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Wednesday, August 19, 2020

Daily Market Report 8/19/20

 http://MikesDailyMarketReport.com: The only economic data being reported today is the FOMC Minutes from the Fed's Meeting last month.  This will be released a little later this morning, and there are no expectations of anything being of surprised, as the Fed has been very transparent of their thoughts.  Stocks are Up today, as Investors preview earnings from Retail Sector; and Target and Lowes had reported better than expected results.  The Markets are taking it's queue from these reports today.  Investors are still watching for any compromise between the Republicans and Democrats on a bill to help those adversely affected from the Pandemic.  Also, tensions keep rising between US and China, as the State Department has warned US Universities of their investment positions with Chinese companies whom may be delisted from the US Stock Exchanges.  MBS has broken above it's 25 DMA and Up 14bps.  This will lead to some better pricing for Mortgage Rates today.  Yields are fighting to stay above a double floor of support (100 DMA and a technical level), and currently sit a hair under 0.66%.

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 either direct message me, or visit http://michaelb.swmcretail.com.


Tuesday, August 18, 2020

Daily Market Report 8/18/20

 http://MikesDailyMarketReport.com:  We had very good numbers in Housing today, as  indicated by the higher Home Builders Confidence.  In Housing Starts for July, they jumped from 1.220 million seasonally adjusted units in June to 1.496 million in July.  The Building Permits (future housing starts) also, jumped from 1.258 million seasonally adjusted units in June to 1.45 million in July.  Stocks are in Mixed Territory this morning, as the DOW is again trading in the Red.  Tension grew some more between US and China, as President Trump posed more restrictions on Hauwei, which he commented that the company's products are "spyware" for China.  The Republicans plan to introduce a "skinny" stimulus package, which will include $10 billion toward the Post Office.  Comments by Mitch McConnell yesterday deflated the Market a bit, as he stated that an agreement may not happen, even while they negotiate.  MBS is Up 20bps this morning, after it pulled back some late yesterday (closing +9bps); but this is enough for Lenders to price a bit better for Mortgage Rates today.  They are approaching back above it's 25 DMA.  Meanwhile, Yields have slipped to 0.66% and approaching to a possible double layer (100 DMA and a technical level) of support.

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 either direct message me, or visit http://michaelb.swmcretail.com.




Monday, August 17, 2020

Daily Market Report 8/17/20

 http://MikesDailyMarketReport.com: The Manufacturing data disappointed in August, after July's 17.2, was followed by 3.7 in August.  However, the NAHB Home Builders Index rose from 72 in July to 78 in August, as the migration from Urban areas are leading those to the suburbs and New Homes.  Stocks are in MIxed Territory this morning, as the DOW is the lone index in the Red.  Investors are watching the different components on a Market Recovery, and have come to the conclusion that a V shaped recovery won't happen; but are hopeful that they will see signs that it will continue to pick up.  MBS is currently Up 17bps and Mortgage Rates will have better pricing today (compared to Friday's close).  Yields have come Down a bit to just a hair over 0.67%.

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 either direct message me, or visit http://michaelb.swmcretail.com.



Friday, August 14, 2020

Daily Market Report 8/14/20

 http://MikesDailyMarketReport.com: Retail Sales disappointed in July, as it came in at 1.2%, after a 7.5% jump in June.  When you exclude Autos, it went up 1.9% in July.  Productivity rose by 7.3% in Q2 and Unit Labor Costs rose by 12.2%.  Industrial Production continues to progress, as it rose 3.0% in July.  Capacity Utilization rose from 68.5% in June to 70.6% in July.  Consumer Sentiment rose to 72.8%, after forecasts called for a drop.  Business Inventories continue to decline, as they declined 1.1% in June.  Stocks are Mixed again today, but this time, NASDAQ is lone index in Red.  Not much news on Congressional negotiations for new Stimulus package, COVID-19 or tensions with China, as they've been our main headlines for awhile now.  However, Lenders repriced for the worse during the afternoon yesterday, and closed down 9bps.  This morning, we're currently Up 3bps, so Mortgage Rates are Unchanged from pricing after yesterday's close (but lower than yesterday's start).  Also, for those whom are refinancing with conventional loans and received a rate quote from Wednesday or later, then now your looking at a 0.5% increase to the fee of the rate you were quoted.  So, if you have a $300k loan and quoted 0 points, then now you're paying 0.5% point, or $1,500 for that previously quoted rate on top of any Market Changes.  This is due to the new Government Tax (imposed by FHFA -not to be confused with FHA), which Lenders will pass onto the Consumer.  This doesn't affect purchase or any other loan programs.  This is just to make you aware why  you may see any drastic changes in previous quotes.  Meanwhile, Yields have climbed nearly to 0.70%.

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 either direct message me, or visit http://michaelb.swmcretail.com.


Thursday, August 13, 2020

Daily Market Report 8/13/20

 http://MikesDailyMarketReport.com: The Initial Jobless Claims finally dropped below 1 million since the Pandemic, as it reported 963k people applying  for unemployment benefits for first time; which last week's number was 1.19 million.  Stocks are Mixed today, as the DOW remained the lone index in Red.  Not much else is new, as Congress continues to blame one another for not coming to a resolution to a new Stimulus package and numbers are subsiding with COVID-19 cases.  There was one surprise last night that will affect people, whom are looking to refinance their conventional loans (Fannie Mae and Freddie Mac), which they announced (as many would call) a tax of 0.5% point price adjustment effective immediately; so, if you're in middle of refinance and haven't locked yet, then you'll see a 0.5% price adjustment to your cost of the interest rate.  This means that if you're refinancing a $300k loan and were paying 0 points for your rate, then you're going to pay an additional $1,500 for that same rate.  This move surprised everybody.  Meanwhile, MBS started the day much higher and has subsided to +5bps from yesterday's close, so some Lenders (mostly east coast) may reprice for the worse; and here on the West Coast will see (with exception to the new tax) the same pricing as yesterday.  Meanwhile, Yields continue to rise, and currently sit around 0.68%.

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 either direct message me, or visit http://michaelb.swmcretail.com.





Wednesday, August 12, 2020

Daily Market Report 8/12/20

 http://MikesDailyMarketReport.com: The Consumer Price Index rose 0.6% in July, which it's YoY jumped up from 0.6% to 1.0%.  The Core CPI (excluding food and energy) also rose 0.6% in July, and it's YoY increased from 1.2% to 1.6%.  Stocks are Up this morning on overall good sentiment regarding the improving economic trends and progress in COVID-19 between vaccinations coming out soon and cases dropping.  MBS dropped a bit further yesterday (closed down 34bps), so pricing worsened yesterday; and this morning, it was down further, but it's currently Down 3bps.  This worsening trend will push Lenders to come out with a little worse pricing to cover themselves from any further Market deterioration throughout the day.  Yields have skyrocketed over the past few days; as the Markets compete with Stocks for investment dollars, over supply for auctions this week and the Fed's new stance on Inflation.  They are currently around 0.66%.

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 either direct message me, or visit http://michaelb.swmcretail.com.




Tuesday, August 11, 2020

Daily Market Report 8/11/20

 http://MikesDailyMarketReport.com: The NFIB Small Business Index dropped from 100.6 in June to 98.8 in July, as many states reconstituted some form of lockdowns.  The Wholesale Inflation data rose in July, as the Producer Price Index rose by 0.6% in July; and the Core PPI (excluding Food and Energy) rose by 0.5%.  Stocks are Mixed this morning, as the NASDAQ again is the lone index in the Red.  Congress reconvenes their negotiations with another Stimulus Package.  Russia becomes the first to release COVID-19 vaccines.  Mortgage Rates worsened a little bit today, as the MBS is currently Down 17bps.  Meanwhile, Yields have skyrocketed to just over 0.65%.  In the process, they've climbed past their 25 DMA, another ceiling and right near the 50 DMA.  We'll want to watch, as this may be an indicator for MBS to pull back it's recent gains.

 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 either direct message me, or visit http://michaelb.swmcretail.com.