Daily Market Report 3/31/21

 http://MikesDailyMarketReport.com: ADP revised their February's data higher, from 117k to 176k; and March's reported 517k job (coming in near forecasts).  Manufacturing continues to heat up in Chicago, as the Chicago PMI jumped up from 59.5 in February to 66.3 in March.  However, Pending Home Sales dropped 10.6% in February, as the Market is dealing with historic lows.  There's plenty of demand, but no supply!  Meanwhile, stocks are Up today, as Funds rebalance their portfolios for end of Q1/month.  Biden is expected to announce his plans for Infrastructure Spending Package.  This doesn't seem to be affecting the Market today, as it's (for the most part) already priced in.  MBS is Up 8bps so far this morning, as it rebounded from it's opening.  Mortgage Rates (for the most part, depending on the Lender and when they release their rate sheets), the pricing should be Unchanged or Better than yesterday's.  Yields didn't move much  today; and currently sit just under 1.72%.

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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.

Daily Market Report 3/30/21

 http://MikesDailyMarketReport.com:  We have a few Home Price Indices (HPI) to report, which we'll start with Case Shiller HPI.  Case Shiller reports that home prices rose 11.1% YoY in January; while the report by OFHEO, whom gathers data from conforming loan programs (Fannie and Freddie) rose 12.0% in January.  Lastly, the Consumer Confidence spiked from a revised 90.4 in February to 109.7 in March (this will have an impact with Yields).  Stocks are Down this morning, as we approach month/quarter end, and Fund Managers rebalance their portfolios.  Investors are closely watching for any further selling from Archegos Capital Management, whom disrupted the Markets yesterday with their block selling of $30 billion, as they liquidate to repay calls.  Also, Biden may be announcing (maybe as soon as tomorrow) a new plan on rebuilding our infrastructure that may top out at $3 trillion.  This could have a HUGE impact on Yields, as we saw what the Stimulus package did to Yields about a month ago.  Speaking of Yields, it topped out at 1.77% earlier today, and has since subsided down to just under 1.73%.  MBS started the morning much lower, but has improved to being Down 5bps.  Pricing should be a little worse today, compared to yesterday's ratesheet; but Mortgage Rates should be seeing a huge change.

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.

Daily Market Report 3/29/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today; however, we'll receive March Jobs data this week, starting with ADP on Wednesday.  Stocks are currently in Mixed Territory after being in Negative Territory early on due to an unexpected selloff by a large Hedge fund manager.  They dropped off $30 billion into the Market, which has led other investors to research which sectors and and stocks are affected; needless to say, it was a big disruption.  We will expect some choppiness over the next few days, as the 1st Quarter ends; and Fund Manager rebalance their portfolios to meet expected economic recovery and higher Yields.  Speaking of higher Yields, they're spiking as we speak.  They've pushed up to 1.71% so far.  Meanwhile, MBS was looking good until it just didn't and is currently Down 14bps.  This has led Lenders to reprice already this morning to worse pricing for 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.

Daily Market Report 3/26/21

 http://MikesDailyMarketReport.com: The Fed's favorite gauge for inflation was released today.  The PCE (Personal Consumption Expenditure) went up 0.2% in February, as it's YoY rose from 1.5% to 1.6%; however, it's Core PCE (excluding the volatile food and energy) rose only 0.1% in February and it's YoY dropped from 1.5% to 1.4%.  The Core PCE is what the Fed terms "Real Inflation" and likes to keep it around 2.0%.  As it appears, we still have room before we reach that level, even though the Markets are anticipating much higher levels.  Another report that was released was Personal Income, which dropped 7.1% in February; and Consumer Spending dropped 1.0%.  Lastly, Consumer Sentiment rose from 83.0 in February to 84.9 in March.  Stocks are in Positive Territory on the low inflation data and higher Consumer Sentiment, but also on good economic data out of Europe and potentially faster vaccinations in the US.  The good economic data in Europe dragged MBS down, as the US Markets opened, but has pulled itself closer to Unchanged levels.  It's currently Down 3bps; however, yesterday, the Market closed in Negative Territory (down about 6-8bps).  This will most likely lead Lenders to price in their rate sheets a bit worse (compared to yesterday's) this morning.  But it's possible that MBS continues some improvement (hence, maybe some Lender repricing for better to the rate sheets).  Meanwhile, Yields spiked to 1.67% early on, but have subsided down to 1.64% level.  Yesterday, it broke back above the 1.62% level again, which is what's putting the pressure on MBS.

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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.

Daily Market Report 3/25/21

 http://MikesDailyMarketReport.com:  The Weekly Initial Jobless Claims finally dropped below 700k, when it was reported that only 684k people applied for first time unemployment benefits last week.  Also, another great report come in, which was the final revision for the Q4 GDP, which came in higher than it's initial (4.1%) to 4.3%.  Stocks are Up on the data; and the choppiness this week has been occuring, as the big Hedge Fund Managers reposition and rebalance their portfolios for the ending quarter.  As COVID cases hit Europe are resulting in more Lock Downs, which initially helped Yields; but that dissipated, as the 7 year Treasury Auction came in a bit poor.  We're looking for Yields to hold below the important Technical Level that we discussed yesterday, which is around the 1.62% range.  We're currently sitting just under the 1.63% range.  MBS also faced a bit of a seesaw action this morning with all of the news being reported.  Currently, it's Up 2bps; so Mortgage Rates should be closely Unchanged from yesterday's close.

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.

Daily Market Report 3/24/21

 http://MikesDailyMarketReport.com:  Sorry for the delay in my report today.  I had issues with my computer and just had it fixed by (nearly) Market Close today.  One the economic front, we can start with the Durable Goods Orders, which dropped 1.1% in February; and when you excluded Tranportation, then it dropped 0.9%.  This is the first time in 10 months that it declined.  However, the IHS Markit PMI reports a better story, as the Manufacuring index rose to 59.0; and the Services sector rose to 60.0.  Stocks closed in Negative territory again today, as both Fed's Powell and Treasury's Yellen testified for the second day to Congress.  This time with the Senate Committee.  Nothing different here.  MBS closed Up 5bps today, as the Market showed continued improvement (yesterday, most Lenders repriced their ratesheets for the better).  So, today's pricing is Unchanged from yesterday's close.  Yields are about to close below an important level, as it's settling into 1.61%.  This could help MBS to continue it's improvement (albeit, it might be short-lived).

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.

Daily Market Report 3/23/21

 http://MikesDailyMarketReport.com:  The only Economic Report to show today is New Home Sales for February.  January's data was revised higher, from 923k seasonally adjusted units to 948k.  February's data came in much lower, at 775k; which was lower than it's 875k forecast.  We've been seeing Builder Confidence dwindle a bit, as materials (like lumber, which rose 200%) costs have risen and interest rates have been rising (hurting affordability).  Stocks are in Mixed Territory, as all indexes are tip-toeing back and forth between positive and negative territory before Fed Chair Powell's and Treasury's Yellen's testimony before the House Committee.  This is easily what will influence the Markets today, so be alert to any questions from Congress that may pose any changes or viewpoints and the responses that may be received.  There will be a few Fed Members set to speak today, as Dallas' Kaplan already spoke and commented that he could see the first rate hike happening next year; whereas the Dot Plot indicated in 2023.  Also, there is talk that Biden's Administration wants to spend more money on infrastructure, which as we've seen with the recent Stimulus package how that affected the MBS/Treasury Markets.  Meanwhile, there's been a bit of pulling back these past 2 days with the MBS and Treasuries.  MBS closed yesterday Up 27bps, which led to many Lenders to reprice their ratesheets with better pricing.  So far this morning, it's Up 17bps, which should lead Lenders to continue the better pricing today.  Yields have now slipped down to 1.65% (after touching 1.75% last week).  Of course, the Markets could change once they have a more direct direction after the testimony; so, be cautious with a choppy Market today.

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.

Daily Market Report 3/22/21

 http://MikesDailyMarketReport.com:  Existing Home Sales dropped from 6.66 million annualized units in January down to 6.22 million  (blowing by estimates of 6.50 million).  The huge drop in inventory levels has severly impacted these numbers, as pent up demand has dramaticallly increased home prices; and many people are concerned, if they sell, then they may not find another place for themselves.  Stocks are in Positive Territory this morning after a choppy week last week.  Investors appear to be a bit uneasy with the Fed and it's decisions; as the Fed remained a bit dovish with their announcement and the Dot Plot indicated that a rate hike may have moved up a year (from 2024 to 2023); and they still hadn't really addressed the Markets worries of the spike in Yields.  Then to top off the week, the Fed decided not to extend the SLR, which helped banks with their capital requirements in order to lend.  However, MBS is Up 11bps and seem to be showing early signs for a bit more improvement for the day.  Lenders should have slightly better pricing for Mortgage Rates today.  Meanwhile, Yields have just slipped below 1.70% (after touching on 1.75% last week), down to 1.68%.

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 please direct message me.

Daily Market Report 3/19/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today.  The Markets are taking their direction from the Fed's decision NOT to extend the SLR addendum that allows Banks to remove Treasuries and Bonds from their reserve requirements in contract to their lending.  Stocks are in Mixed Territory, as DOW is the lone index in Red.  Financial Institutions are down on this news.  Bond Traders must have read the writing on the wall yesterday, as there was a Big Selloff, which it closed down 42bps; however, this morning, it's Down 14bps.  This has led Lenders to price Mortgage Rates a bit higher again!  Yields are now sitting around 1.72%.

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 please direct message me.

Daily Market Report 3/18/21

 http://MikesDailyMarketReport.com: Manufacturing in the Philadelphia region is el fuego, as the Philly Fed Index jumped up to 51.8 in March.  We haven't seen this high of a number since 1973.  Initial Jobless Claims jumped up to 770k in this week's report, up from 725k in last week's report; but it's still below 800k, which isn't too bad.  Leading Economic Indicators Index rose only 0.2% February.    Stocks are in Mixed Territory today, as the DOW is benefitting from the repositioning of investment dollars between the various high growth stocks to more suitable in a  higher yield environment.  The Fed pretty much kept everything intact yesterday; however, it still hasn't confronted the Market's concerns over the continued spike in Yields (it's spiked up to 1.74% today); also, Fed Chair Powell told a reporter whom asked about the SLR, which he told her that he would address it in the next few days.  Unfortunately, this wasn't necessarily Bond friendly news, so today, MBS is Down about 44bps; which means that Mortgage Rates are up nearly a 0.5% point in fees from yesterday's close.

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.

Daily Market Report 3/17/21

 http://MikesDailyMarketReport.com: Housing Starts dropped in February from 1.584 million adjusted annual units in January's report to 1.421 million in February; also, Building Permits (future Housing Starts) dropped from 1.886 million adjusted annualized units to 1.682 million in February.  As we saw yesterday, that Home Builders weren't feeling as confident in March.  This may be partly to the rise in their costs, which lumber alone rose approximately 200% YoY.  These costs may be too much to pass onto the Buyers, so their outlook isn't so rosey!  Stocks are in Mixed Territory, as the DOW remained the lone index in Positive Trading ahead of the FOMC Announcement at 11am PST.  The Fed isn't expected to raise rates, but Investors will be listening for any changes in their language; as well, as reviewing the Dot Plot for any changes to Fed Members' projections for the next rate hike (December's Dot Plot projected 2024 for next possible rate hike); and for any comments about the SLR, which the ratio between the Banks supply of Bonds/Treasuries and Lending capacity.  The Fed had granted them unlimited capacity last April, but it is supposed to expire in about 2 weeks.  It's expected that it will be extended; so, Investors will look for any comments about it.  If it's extended, then we could see some improvement in Yields, thus helping Mortgage Rates.  Speaking of Mortgage Rates, they've worsened since yesterday's close, as MBS is currently Down about 22bps ahead of the Fed's Announcement; and Yields have spiked up again to 1.67% (projecting possible next level to 1.75%).  We are currently at the same levels at February of 2020 (just prior to all the lockdowns).

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.

Daily Market Report 3/16/21

 http://MikesDailyMarketReport.com: Retail Sales dropped by 3.0% in February.  Industrial Production also dropped by 2.2% in February.  Home Builders are feeling a little less optimistic in March, as the NAHB Home Builders Index dropped from 84 to 82.  Lastly, Business Inventories rose 0.3% in January.  Stocks are trading in Mixed Territory so far this morning, as the DOW, which has been on a tear of late, may be cooling down a bit.  Investors are bracing themselves ahead of the FOMC, which starts today; and the Fed will provide their announcement tomorrow.  Investors will watch for any change in their language; any further comments about the spike in Yields; and review the Dot Plot for any indications by the Fed to raise short-term rates sooner.  MBS is currently Down 5bps.  Normally, this wouldn't factor into Mortgage Rates; but yesterday, MBS ended Up closing Down 2bps (after starting Up at least 13bps).  They lost yesterday's gain and coupled with the downward trajectory, then Lenders will have worse pricing (more comparable to what we saw after Friday's close).  Tomorrow's Fed announcement will have a big impact on the Markets, so be prepared for a choppy ride tomorrow.  Meanwhile, Yields remain above 1.60; and currently sit at 1.61%.

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.

Daily Market Report 3/15/21

 http://MikesDailyMarketReport.com:  Manufacturing in NY region spiked up a bit further in March, as the Empire State Index rose to 17.4.  Stocks are in Negative Territory leading up to the upcoming FOMC, which begins tomorrow and announcement to be made by Fed on Wednesday.  Pricing for the recently passed Stimulus is already set into the Market, but they're still adjusting to the ever evolving rise in Yields.  Yields have come off their highs of the day, down to 1.60%.  MBS is currently Up 13bps, which Lender will come out with slightly better ratesheets today (based on Friday's close, which was Down 42bps from Thursday).

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.

Daily Market Report 3/12/21

 http://MikesDailyMarketReport.com:  Inflation spiked in the Wholesale sector, as the Producer Price Index (PPI) rose 0.5% in February.  The Core PPI (which removes food and energy) rose 0.2% in February; however, it's YoY dramatically rose from 2.0% in January to 2.5% in February.  We'll continue to watch this, as the Fed has warned of temporary inflationary spikes due to bottlenecks in the supply chain.  This could be part of that!  Meanwhile, Consumer Sentiment jumped up from 76.8 in February to 83.0 in March.  Stocks are Mixed as the DOW is the lone index in Positive Territory.  Investors continue to readjust their positions, as the Stimulus Package was just signed yesterday; and Yields spike again today (up to 1.62% currently).  The spike in Yields has led to a dramatic fall for MBS, as they're currently Down 33bps, which has led Lenders to price Mortgage Rates higher today (compared to yesterday's close).

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.

Daily Market Report 3/11/21

 http://MikesDailyMarketReport.com:  The initial Jobless Claims came in at 712k, which shows a weekly decline (Good News!); however, last week's report was revised higher by 9k.  The ECB had their Policy Meeting and Announcement today, which they will keep all intact, but did mention that they will look to accelerate their Asset Purchases.  Stocks are Up this morning on optimism for the economy after the jobs data today and the lower inflation data being reported yesterday.  MBS started higher on the heels of the ECB's announcement; however, it subisded a bit, and is currently only Up 9bps.  This isn't enough for Lenders to make any changes in their pricing for Mortgage Rates (Unchanged).  Inversely, Yields started much lower, but have since risen a bit higher to almost 1.52%.

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.

Daily Market Report 3/10/21

 http://MikesDailyMarketReport.com: The Consumer Price Index (CPI), which measures consumer inflation, rose 0.4% in February, bringing in it's YoY from 1.4% to 1.7%; however, the Core CPI (excludes food and energy) rose only 0.1%, and it's YoY dropped from 1.4% to 1.3%.  The Core carries more weight because it removes the variables that we don't have control.  Most of the Stock Market liked the News, as NASDAQ remains the lone index in the Red, this morning.  The inflation data was good news, so that Yields dropped down to 1.51%, which created an Average Auction for the 10 year Treasury today (buyers declined along with the Yields).  MBS didn't have much reaction to either the Inflation data or the drop in Yields, as they started down 6bps and are currently Up 2bps.  This isn't enough movement from yesterday's close for Lenders to make any changes to their Mortgage Rates today.  

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.

Daily Market Report 3/9/21

 http://MikesDailyMarketReport.com:  The NFIB Small Business Index rose from 95.0 in January to 95.8 in February.  This index gauges the confidence amongst Small Business Owners.  They're important, as they represent the bulk of employment in the US.  Stocks are Up this morning, including NASDAQ, because of the lower Yields, which is now down to 1.56% (as it touched 1.62% yesterday).  MBS started the morning much higher (Up 25bps), but over last few minutes of starting the video, it dropped down to being just Up 8bps.  So, depending on the Lender (if they're east or west coast), then it may determine their pricing today (at least in morning, as those with earlier ratesheets may revise their rates to meet the current standing).  Mortgage Rates were better earlier on, but has subsided and may look more like rates we saw after yesterday's close.

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.

Daily Market Report 3/8/21

 http://MikesDailyMarketReport.com: We only have Wholesale Inventories to report today, which met expectations at 1.3% MoM increase.  Stocks are readjusting themselves, as Yields continue to rise.  NASDAQ remains lone index in Red, as investment dollars move from Tech to Financials and Energy.  The $1.9 Trillion Stimulus package passed the Senate over the weekend, so it goes back to the House.  They're pushing to wrap up before the lapse of Unemployment Benefits that end on March 14th; and hoping to start sending out Stimulus checks by the 22nd.  As previously mentioned, Yields are now at 1.60%; which we're waiting to see if it has topped out or is there more to climb?  Meanwhile, MBS is Down 9bps from Friday's close.  Not enough to change pricing from Friday's close; but we have seen a lot of volatility in the Markets; and it could have greater swings.

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.

Daily Market Report 3/5/21

 http://MikesDailyMarketReport.com: Today is the big day, which the Bureau of Labor Statistics (BLS) provides their Jobs data.  Without further adieu, the Non-Farm Payrolls not only hit 379k (beating estimates of 182k) for the month of February, but it revised it's January from 49k to 166k.  Meanwhile, the Unemployment Rate dropped by 0.1% to 6.2%.  Average Work Week hours were trimmed a bit, from 34.9 hours to 34.6 hours per week.  Average Earnings rose by 0.2%, which matched most estimates.  Stocks were initially in the Red for most of the morning, but trades have subsided a bit since the early trades to moving into Mixed Territory (NASDAQ being lone index in Red).  Investors are moving investments out of over-valued stocks (like Tech) to under-valued stocks (like Financials and Energy) due to concerns over Inflation and Higher Yields.  Speaking of Yields, they touched at 1.62% earlier, but have calmed down to 1.56% currently.  This had a big sell on MBS earlier on, but has come back a bit; and is currently Up 6bps.  Yesterday, we had a big selloff day (closed Down 50bps), as Investors weren't agreeing with Fed Chair Powell's answers to WSJ's Q&A.  The Market wanted to hear about the Fed's approach to inflation down the road, but the Fed has stated that any spike in inflation will be temporary due to the bottleneck in supply chain; and will subside thereafter.  His comments were very dovish, which isn't what investors had in mind.

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.

Daily Market Report 3/4/21

 http://MikesDailyMarketReport.com:  We have a lot of data to go over today; and tomorrow is the big jobs data from the Bureau of Labor Statistics.  Without further adieu, let's start with the final revision of Labor Costs for Q4, which dropped from last month's 6.8% to 6.0%.  This is good news for inflation!  Also, Productivity for Q4 was better than last month's -4.8% to the final number of -4.2% (improvement by 0.6%).  The Initial Jobless Claims rose from 730k (last week's number) to 745k this week.  Durable Goods rose by 3.4% in January (unchanged from previous month); however, when you exclude Transportation, then it rose only 1.3% (down from it's 1.4% in December).  Factory Orders continue to impress, as they rose 2.6% in January.  Manufacturing and Factory work are the bulk of the economy at this time (even though, normally, the service industry provides the bulk of the jobs).  Powells speech today is having a major impact with the Markets.  The Fed Chair is not providing them with what they want, which is to extend "Twist".  This is a way for the Fed to buy long-term debt and sell short-term debt, which allows for more liquidity in the short-term.  The Fed has indicated that any current inflation is transitory due to the pandemic's effect on supply-chain; and economy show signs of improvement.  Like the Stock Market, the Bond Market, or MBS, had started to selloff during Powell's Q&A.  It has subsided some, but it's currently still down 9bps.  Many Lenders had already started their reprices for the worse, so Mortgage Rates are a bit worse than yesterday's.  Yields are skyrocketing again; and are just under 1.55% 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 please direct message me.

Daily Market Report 3/3/21

 http://MikesDailyMarketReport.com: The ADP reported only 117k new jobs for February, which was disappointing, as forecasts were looking for 177k.   The ISM Non-Manufacturing PMI dipped from 58.7 in January to 55.3 in February; which means that the Services Industry pulled back a little bit in February.  Stocks are in Mixed Territory, as the DOW remained the lone index in Positive Territory (currently).  Europe received some good economic data earlier today, which started a selloff of Bonds/Treasuries there and continued here in the US, as Yields are topping near 1.48%.  Investors are hopeful about Biden's announcement to accelerate the vaccinations and trying to get back to some normalcy.  As mentioned previous, there's a bit of a selloff on MBS today, as they are currently Down 28bps; so, Mortgage Rates worsened (this is mostly about an 0.125% difference in the rate).

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.

Daily Market Report 3/2/21

 http://MikesDailyMarketReport.com: No economic data to report today.  Stocks are in Mixed Territory, as the DOW represents the lone index in Positive Territory.  We have a few Fed speakers today, which investors will definitely watch Lael Brainerd, as she almost disregarded the concerns of last week (high yields and inflation).  They'll wait to see what she has to say this week.  MBS closed Up 14bps yesterday, and many Lenders repriced for the better yesterday.  This morning, it's currently Up 2bps; so Mortgage Rates remain Unchanged from yesterday's close.  Yields almost appear to be heading in a sideways pattern, as it's currently sitting around 1.42%.

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.

Daily Market Report 3/1/21

 http://MikesDailyMarketReport.com:  ISM Manufacturing Index jumped, and matching a 2 year high, to 60.8 in February.  Also, Construction Spending rose by 1.7% in January.  Stocks took off this morning, as Yields seem to have calmed down a bit today and good economic data.  Mortgage Rates are Up a little bit, as the MBS opened about 17bps lower than Friday's close; and is currently Down about 13bps.  There's some volatility still, as it has a low of 24bps and it was up 17bps.  Yields are currently sitting at 1.44% (after it hit 1.61% last week).

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.