http://MikesDailyMarketReport.com: Pending Home Sales dropped 4.9% in December. If you look into the numbers, then you'll know it's due to the low inventory levels. There's still a lot of demand! The Fed will be giving their announcement later today. No rate changes are expected. The one topic that could potentially create some volatility is if the Fed talks about the Balance Sheet. Meanwhile, Stocks are still ignoring the coronavirus and focusing on Earnings Reports. They're currently in Positive Territory. MBS is also in Positive Territory, as it's Up 8bps. Mortgage Rates remain Unchanged in their pricing from yesterday, or for that matter, this week. Yields have slid down to 1.62%.
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