Friday, April 24, 2020

Daily Market Report 4/24/20 Durable Goods Orders dropped by 14.4% in March; and only dropped by 0.2% when you exclude Transportation.  Consumer Sentiment dropped from 89.1 in March to 71.8 in April. Stocks started the day in Positive Territory, but the DOW has since gone into Negative Territory.  Oil prices are starting to rise a bit (up to around $17-$18/barrel).  Also, the new Stimulus package (mostly for PPP and hospitals) had passed the House yesterday and will await President Trump's signature.  MBS are currently Up 13bps, which leads them to approximately the same pricing as yesterday, as they lost most of their day's gains late in the day.  Most Lenders didn't reprice for the worse, so Mortgage Rates will remain approximately the same.  Yields haven't moved much today, as they sit at 0.60%.

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