Tuesday, April 21, 2020

Daily Market Report 4/21/20

http://MikesDailyMarketReport.com: Existing Home Sales dropped 8.5% in March, down to 5.27 million annualized units.  Stocks are Down this morning on the struggles of the Oil Industry, as they went into negative territory for the first time for price per barrel.  There's a new package with Congress now that will hopefully get passed this week to help Small Businesses (such as the PPP).  Also, the FHFA is finally doing something to help the Servicers. They are going to cap their investment payment to 4 months.  It's not quite what we were seeking, but it's heading in the right direction.  MBS is currently Down 2bps, so Mortgage Rates remain Unchanged from yesterday's pricing.  Yields have fallen down to 0.56% now.

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