Friday, May 3, 2019

Daily Market Report 5/3/19 The Bureau of Labor Statistics released their Job Numbers today.  The Nonfarm Payroll exceeded their forecast of 213k to 263k; and the Unemployment Rate dropped from 3.8% to 3.6% (lowest reading since 1969) for the month of April.  The Average Hourly Earnings continued it's trend of rising 0.2%, as it's YoY remained at 3.2%.  Markit Services PMI rose from 52.9 to 53.0 in April; as ISM Nonmanufacturing Index dropped from 56.1% to 55.5% for April.  Stocks are liking the Jobs data and trading in Positive Territory this morning.  MBS is currently Up 9bps.  Some Lenders may be inclined to improve their Mortgage Rate pricing.  The Market has mainly moved sideways, so if they do improve, the it will be very slightly; so, for the most part, Mortgage Rates are Unchanged.  Yields remain in the 2.52% range.

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