Thursday, September 26, 2019

Daily Market Report 9/26/19 Initial Jobless Claims rose 3k from last week's report to 213k.  However, last week's report was revised higher by 2k (from 208k to 210k).  Last week's report is important because it will be used as part of the BLS' Jobs report due October 4th.  This low number should help to show a strong Jobs report for September.  Also, the GDP provided it's final revision for Q2, which remained the same at 2.0%.  Pending Home Sales jumped up 1.6% in August, which we saw an uptick in purchases out west.  The lower interest rates are helping home buyers, as it improves their Affordability.  Stocks are Down this morning, as the Impeachment Talk takes center stage.  Yesterday, it was placed on the back burner, as investors became more optimistic over a possible US/China Trade Deal to be completed soon.  Like yesterday, there will be several Fed Members speaking throughout the day.  MBS is currently Up 11bps, but Mortgage Rates will be the same as we closed yesterday.  Yesterday, we closed down 33bps.  Lenders whom didn't re-price for the worst, then will price it in today.  Yields are down a bit, as they currently sit slightly under 1.69%.

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