Thursday, September 23, 2021

Daily Market Report 9/23/21

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims rose to 351k this past week; and the Continued Claims spiked a bit, as more people remained on Unemployment.  The IHS Markit PMI released their Services and Manufacturing data for September.  Anything above 50 is expansion or optimism in the Market for these indices.  The Services dropped from 55.1 in August to 54.4 in September; while, Manufacturing dropped from 61.1 to 60.5.  On the flip side, Leading Economic Indicators jumped up 0.9% in August.  Stocks are Up again today, after the completion of the 2 day FOMC, which Investors received more clarity on the Fed's thoughts for the future.  The Fed stated, pending progress in jobs and economy, that tapering is still on the table for this year; however, it's also appearing that a rate hike may happen next year (a bit sooner than expected).  Investors were pleased with this and the announcement by Evergrande's on-time payment, so we're seeing a bit of a shift in investors' dollars flowing from MBS/Bonds to higher risk assets (equities) today.  MBS is taking a beating; and is currently Down 33bps, as Lenders repriced with worse pricing on their Rate sheets.  Mortgage Rates rise!  Yields spiked all the way to it's 100 DMA, but have subsided some.  It reached all the way to 1.40%.

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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.



Wednesday, September 22, 2021

Daily Market Report 9/22/21

 http://MikesDailyMarketReport.com:  The Existing Home Sales dropped 2.0% in August, as July's data was revised slightly higher (from 5.99 million annualized units to 6.00 million).  It was reported at 5.88 million in August.  The Fed will be wrapping up it's 2 day meeting (FOMC) today, which they'll provide their announcement at 11:30 am PST.  Expect some choppiness!  Investors will await word on timeframe of the Fed tapering plans (this year or next), review Dot Plot (for interest rate hike forecasts by Fed members) and any policy statement changes.  It seems that most forecasters believe the Fed will hold on taper for the moment, and most likely announce at November's meeting.  Stocks are rebounding after another day of selloff; and ahead of Fed decision.  Investors received some good news on Evergrande, as they announced they'll make an on-time payment to one of their creditors.  However, this seems like they're just kicking the can down the road, as more payments will be needed; and they appear to be over-leveraged.  Unless, the Chinese Government intervenes, then they may not last.  So, stay tuned!  MBS is currently Up 3bps, so Mortgage Rates remain Unchanged from yesterday's pricing; and Yields have slid down to 1.31%.  There could be some volatility after the Fed announcement today, so be prepared for some possible swings 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 please direct message me.



Tuesday, September 21, 2021

Daily Market Report 9/21/21

 http://MikesDailyMarketReport.com:  Housing Starts rose by 3.9% in August, while Building Permits (future Housing Starts) rose by 6.0%.  If you recall yesterday, that we had a slight uptick in the Home Builder Confidence.  Stocks are Up after yesterday's bloodbath (being blamed on Evergrande).  Investors are buying on the Dip.  Meanwhile, MBS started lower, but quickly recovered and are Up 2bps.  Mortgage Rates remain Unchanged.  Likewise, Yields started a little higher, but has settled down to about 1.32%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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



Monday, September 20, 2021

Daily Market Report 9/20/21

 http://MikesDailyMarketReport.com:  The NAHB Home Builders Index rose 1 point to 76 in September, as Home Builders gain some confidence.  Stocks are taking a beating today, as China's Evergrande HK is making big headlines.  They're a top 3 real estate developer that is facing financial collapse, as approximately $100 million in interest payments will be due over next 2 weeks for maturity on some bonds.  This is being compared to (level wise) to Lehman's collapse during Credit Crisis even though this has been going on for months; and having a major impact on Global Markets.  Meanwhile, Investors will be looking ahead to the FOMC (starting tomorrow with announcement on Wednesday).  They will be awaiting word on tapering timeline, along with forecasts on inflation and Dot Plot (gauge to view interest 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.



Friday, September 17, 2021

Daily Market Report 9/17/21

http://MikesDailyMarketReport.com:  The Consumer Sentiment reported it's mid-September number rose from 70.3 to 71.0.  We'll receive September's final reading toward the end of the month.  Meanwhile, Stocks are facing volatility, as today is the Quadruple Witching (expiration of options for 4 different sectors).  Stocks are all in the Red today.  Also, heading into next week is the FOMC, which will hold very high relevance, as many investors are uncertain if the Fed will begin tapering this year or next due to the recent data.  MBS is also taking a bit of a beating today too, as it's currently Down 11bps.  It was down more earlier today, which led Lenders to price their ratesheets a bit worse today (higher Mortgage Rates).   Yields have shot up to 1.38%, which is at the high end of the trading range.  We've been trading (roughly between) the 1.26% to 1.38% range.  Once it has hit the higher or lower range, then it has been bouncing to the other end.  However, next week could potentially push Yields higher, as Chairman Powell provides his announcement after the FOMC.  Stay tuned and be ready for more choppiness ahead of the FOMC announcement, as investors position themselves.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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



Thursday, September 16, 2021

Daily Market Report 9/16/21

 http://MikesDailyMarketReport.com:  Retail Sales surprised the Markets by posting an increase of 0.7% in August, as economists were projecting a drop.  When you exclude Autos, then it jumped up 1.8%.  The Philly Fed Index jumped up from 19.4 in August to 30.7 in September.  This index gauges the business activity in the Philadelphia region.  However, the Initial Jobless Claims rose to 332k last week for people applying for first time benefits.  Lastly, Business Inventories rose 0.5% July.  Stocks are Down today, as they brace for tomorrow's volatile day (Quadruple Witching Day) and ahead to next week's FOMC.  Meanwhile, MBS is Down 19bps, as Mortgage Rates worsen a bit today.  Also, Yields ascended to just under 1.33%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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



Wednesday, September 15, 2021

Daily Market Report 9/15/21

 http://MikesDailyMarketReport.com:  Manufacturing in the NY region spiked in September, as the Empire State Index reported it jumping from 18.3 in August to 34.3 in September.  Also, Industrial Production rose 0.4% in August.  Investors were pleased with the data, as Stocks are trading in Positive Territory today.  However, they're keeping one eye toward next week's FOMC, as uncertainty on when tapering will begin unfolds.  Based on the tamer CPI yesterday, then the Fed may not be so anxious to begin tapering sooner and wait for better Jobs data before proceeding ahead with tapering.  Meanwhile, economic data out of China is not looking too promising as their retail sales came in very poorly due to lockdowns.  Investors realize it will impact the Global Markets.  MBS started the morning higher, but as European Markets wind down, so did the appetite for Treasuries and Bonds (as more Corporate Bonds enter the Market -creating more competition).  MBS is currently Down 11bps and Lenders had repriced for the worse today, so Mortgage Rates are a little worse today (than yesterday).  Yields jumped back above 1.30%, as it's sitting around 1.31% currently.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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