Tuesday, July 28, 2020

Daily Market Report 7/28/20

http://MikesDailyMarketReport.com: The Case Shiller HPI showed a slowdown in National Home Prices in May, as it dropped from 4.6% YoY Appreciation in April to 4.5%.  I'm confident this will rise, as we head into summer.  Consumer Confidence dropped from 98.3 in June to 92.6 in July, as several states increase further lockdowns.  Confidence in economy growing was still growing.  Stocks are in Mixed Territory this morning, as the S&P was the lone index in Positive Territory, and it was barely above water.  MBS is Up 16bps, which will lead Lenders to provide better pricing today.  We're in the 103 range on the 2.0 MBS coupon, which hasn't been sustainable.  We'll see if it can stick this time!  Yields have climbed to just under 0.60% and pushing up against it's 50 DMA.

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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