Tuesday, March 26, 2019

Daily Market Report 3/26/19

http://MikesDailyMarketReport.com: We have a few data to report today on the Economic Calendar.  The Housing Starts dropped from 1.273 million annualized units to 1.162 million annualized units in February.  Also, Building Permits dropped from 1.317 million annualized units to 1.296 million annualized units in February.  This is the Home Builder's response to lower prospective Buyer traffic and a slowing economy.  The Case-Shiller Home Price Index dropped from 4.6% to 4.3% in January; showing that home prices continue to rise, but at a much slower pace than we've experienced in the past few years.  Consumer Confidence dropped, as well, in March, as it dropped from 131.4 to 124.1.  This is indicative of what the Consumer has been experiencing over the past few months, with a volatile stock market, partial gov't shutdown and lower Jobs numbers.  Stocks are rebounding after yesterday's losses and well into Positive Territory.  Top news for Stocks lies with the Brexit, continued negotiations between US/China and a few Fed Members will be speaking today.  MBS is currently Up 3bps, so Mortgage Rates remain Unchanged.  Yields are currently at 2.43%.

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