http://MikesDailyMarketReport.com: The Existing Home Sales jumped Up from 3.91 million annualized units in May to 4.72 units in June. This is just over 20% MoM jump, which is the largest, according to NAR. Stocks are Up this morning on Corporate Earnings releases, despite tensions continuing to heat up between US and China, as the US ordered China to close their Houston Consulate. As expected, China is threatening retaliation. MBS is Up 5bps so far this morning, which isn't enough movement to improve Mortgage Rates, so they remain Unchanged. Yields have slid down to about 0.59%.
As I mentioned in the video, these views do not represent anybody else, but my own. I do work as a Loan Officer, so if I may be of assistance with your refinance or purchase, then please feel free to reach out to me at mikebjork@icloud.com.
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