http://MikesDailyMarketReport.com: Rather quiet day on the Economic Calendar, as the FHFA Home Price Index released their data for November, which showed an improvement of 0.4% for the month, and improvement from 5.7% to 5.8% YoY; so, home prices are still rising. Stocks are rallying on some strong Corporate Earnings releases today. MBS started the morning much lower and below it's 25 DMA, but has improved a bit and is currently down 6bps and testing the 25 DMA. Yields have risen to 2.77% and is also testing it's 25 DMA. Mortgage Rates are about the same as yesterday, but you may want to lock your loan, if you are currently in any transaction, as we may face further deterioration in the short-term.
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