Dedicated to provide mortgage interest rate trends for people whom will like to learn more about interest rates in California. The daily posts help to provide current interest rates for home loans. A great tool for people looking to buy a home, refinance or real estate professionals.
http://MikesDailyMarketReport.com: Initial Jobless Claims continue their trend downward, but not quite at the pace everybody wishes, as they to from 1.51 million people applying for first time benefits in last week's report to 1.48 million in today's report. Durable Goods Orders rebounded in May, jumping up 15.8%; and when you exclude Transportation, then it jumped up 4.0%. Q1 GDP remained unchanged at -5.0%. This is the final revision for Q1 GDP. Investors will be looking to Q2 next month. Stocks started the morning higher on news that Bank Regulators will be loosening some of the restrictions on Banks, placed by Volcker's Rule, that will allow Banks to invest in large capitals and not have to save funds for dividends, in order to free up capital in the Markets. Stocks have since gone into Negative Territory this morning, and will be waiting on results from Bank Stress Tests. MBS is Down 2bps, so Mortgage Rates remain Unchanged. They closed upward of +9bps yesterday, furthering away from 25 DMA. Yields lost all of it's gains yesterday, which brought it past 50 DMA and right up to 25 DMA, and now back below all of those levels, sitting at 0.67%
If you're located in California and looking to either buy a home or refinance and would like my assistance, then please click on the following link and answer a few questions: HERE Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt
No comments:
Post a Comment