Tuesday, February 4, 2020

Daily Market Report 2/4/20

http://MikesDailyMarketReport.com: Factory Orders rose 1.8% in December, as this report is the only one out today.  We'll start to see Jobs data beginning tomorrow thru rest of week.  Stocks are Up again today, as investors appear to be shrugging off coronavirus news, and looking toward the politics.  The mess in the Iowa Caucus and probable conclusion to the Impeachment hearings seem to be a positive for Trump, and Investors seem to be liking it.  MBS is Down 12bps, so Mortgage Rates have worsened a bit today.  We may be heading for a Trend Reversal, so you may want to consider locking if you have any refinance transactions or purchase transactions due to close soon.  Yields have climbed their way back upwards to near 1.60%.

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