Wednesday, January 22, 2020

Daily Market Report 1/22/20  Existing Home Sales rose from 5.35 million annualized units in November to 5.54 million in December.  Stocks reverse earlier concerns over the Coronavirus in China, which a report of one traveller in US was infected with it.  Stocks are Up on news that both China and US Center of Disease confirmed that this is not a pandemic and is contained.  Now Stocks are in Positive Territory.  MBS is only Up 2bps, so Mortgage Rates remain Unchanged.  Yields have slid under it's tough Fibonacci floor of support and sitting between the Fibonacci and 100 DMA, around 1.76%.

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