http://MikesDailyMarketReport.com: Job Openings improved in May, as it rose from 5 million in April to 5.4 million in May. However, that wasn't quite enough to keep stocks in positive territory, as the DOW and S&P have slid into the Red. Currently, they're trading in Mixed territory. They were soured, as Investors listen to Fed Member (from Atlanta) Bostic state that the US economy appear to be "leveling off". The European Commission lowered it's economic forecast again. And the reality of rising infections of covid-19 cases, which is leading some areas back to closures, have begun to sink in that the US economy may not have the V-shaped recovery, as they hoped. There are reports that show we may not return to the pre-pandemic numbers until 2022. On the other hand, this is helping MBS, which is currently Up 20bps. This will lead to better pricing for Mortgage Rates. Also, Yields have slid below it's 50 DMA again and currently sit near 0.67%.
As I mentioned in the video, these views do not represent anybody else, but my own. I do work as a Loan Officer, so if I may be of assistance with your refinance or purchase, then please feel free to reach out to me at mikebjork@icloud.com.
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