Tuesday, February 18, 2020

Daily Market Report 2/18/20

http://MikesDailyMarketReport.com: The Empire State Index (Manufacturing in the NY region) indicated some strength in February after jumping from 4.8 in January to 12.9.  NAHB Home Builders Index, which indicates the confidence level with Home Builders, dropped one point to 74 in February.  However, Stocks are in the Red on reports by Apple and Walmart that they won't meet 2nd Quarter expectations for earnings, as the coronavirus continues to hurt production in China.  Our thoughts and prayers are out to those whom have passed and those whom have been infected; and hope the virus is eradicated quickly.  Investments are flowing toward "safe havens" like the MBS, which is Up 8bps.  It's not quite enough to see improvement, but may see it tomorrow.  Currently, Mortgage Rates remain Unchanged from Friday's pricing.  Yields have stumbled down to 1.54% now.

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