Tuesday, August 27, 2019

Daily Market Report 8/27/19

http://MikesDailyMarketReport.com: Case Shiller Home Price Index, which gauges home prices in the 20 largest US Cities, dropped from 2.4% YoY in May to 2.1% YoY in June.  Consumer Confidence Index had a slight drop from 135.8 in July to 135.1 in August.  Headline news are more of the same, or continuation of yesterday's sentiment.  Nothing new has yet developed.  Stocks are in Positive Territory.  MBS is currently Up 17bps.  But MBS had a late day change to the worse and closed Down 16bps, but most lenders didn't price in any price changes, so today's pricing is essentially the same as yesterday's (Mortgage Rates remain Unchanged).  Yields are slipping a little after yesterday's push upwards, and are currently sitting slightly below 1.51%.

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