Daily Market Report 8/31/20

 http://MikesDailyMarketReport.com: There are no data to report from economic report.  This week will provide us Jobs data from the month of August.  Meanwhile, Stocks are in Mixed Territory, as the NASDAQ is the only index in Positive Territory; and the DOW is currently Down 200+ points.  The FDA provided some optimism, as we approach the final stages for a few Pharmaceuticals' vaccinations research; which they stated the possibility to safely expedite the process of getting the vaccines out to the public.  A few Fed Officials were speaking today; and Richard Clarida reiterated his support for the Fed's announcement last week to it's change of policy of "average" of 2% inflation.  He stated that the economy has changed from the past, which would link the unemployment rate and inflation together, known as the "Phillips Curve", had started losing it's power about a decade ago.  We found out that even with very low unemployment that inflation didn't skyrocket.  China announce some additional restrictions regarding selling of AI technology outside the country, which may create some issues with the sale of TikTok in the US.  MBS is currently Up 3bps and sitting just above it's 50 DMA.  In turn, Mortgage Rates remain Unchanged from what we saw on Friday.  Yields have come down a bit.  They're testing it's new floor of support; and are just under 0.71%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/28/20

 http://MikesDailyMarketReport.com: Inflation rose a little bit in the month of July, as the Personal Consumption Expenditure rose 0.3% MoM; and increased it's YoY from 0.9% to 1.0%.  When you remove the Food and Energy, then you have the Core PCE (the Fed's favorite measure for inflation), which also rose 0.3% in July; and it's YoY rose from 1.1% to 1.3%.  The Consumer Spending rose 1.9% in July, as it's counter-part, Personal Income, rose 0.4%.  The Chicago PMI, which measures the manufacturing in the Chicago region, had a slight dip in August, as it went from 51.9 in July to 51.2 in August.  Anything above 50 is considered expansion.  Consumer Sentiment rose slightly in August, as it went from 72.8 in July to 74.1 in August.  Stocks are Up this morning, especially considered the Fed's move yesterday, as they announced they will make a policy change from having a 2% target rate for inflation to averaging 2%.  They will look more closely on employment and allow inflation to run a bit (moderately) hotter than in the past.  Investors love this, as it will help Equities.  The Fed will most likely leave the Fed Funds Rate down for some time.  However, don't be confused this will help Mortgage Rates, as this typically has an ADVERSE effect on Mortgage Rates.  To put it mildly, Inflation is the arch-enemy to MBS/Bonds, and that effect, Mortgage Rates, as it erodes the value of these investment vehicles because they are fixed over a long period of time.  Currently, the Fed has been purchasing MBS, which has been propping up Mortgage Rates, but for how long?  Currently, MBS is Up 14bps, but Mortgage Rates are slightly better than yesterday's close.  MBS dropped 25bps and led many lenders to re-price for the worse 2x yesterday; so, we're priced somewhere in the middle today.  Yields are continuing it's pressure on MBS, as it's still above the important ceiling, which has become a new floor of support; and sits just above 0.73%,

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/27/20

 http://MikesDailyMarketReport.com: Initial Jobless Claims improved from last week's report to 1.006 million people applying for Unemployment for the first time.  The second look of Q2 GDP dropped from -32.9% to -31.7%.  The final revision will come next month.  Pending Home Sales continue to show a robust Market, as it increased 5.9% in July (MoM).  Stocks were in Positive Territory early on, even after Fed Chair Jerome Powell presented his speech during the Jackson Hole Summit.  However, it just started to become mixed, as much of the Market left it's earlier highs and NASDAQ dipped into the Red.  I believe the Market is reassessing it's position after the new policy statement by the Fed Chair.  Essentially, he stated they'll be shifting from a strict 2% inflation target rate to an average of 2% inflation rate.  They will emphasize jobs.  However, they won't hesitate to jump in with higher rates to stave off inflation, if it becomes out of hand.  This news was ok with the MBS/Bond Market, but when stocks started to take off, then investment dollars flowed over from MBS/Bond to Stocks.  Currently, MBS is Down 19bps and testing it's 50 DMA.  Mortgage Rate worsened from yesterday's pricing.  Yields have dramatically climbed and currently testing it's ceiling.  This ceiling is important, as it has held strong in the past; thus, keeping Mortgage Rates low.  If it breaks above this level, then it will add additional stress to MBS and Mortgage Rates will rise.  Yields are currently sitting just under 0.74%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/26/20

 http://MikesDailyMarketReport.com: The Durable Goods Orders surprised to the positive side today, as it jumped up from June to July by 11.2%; however, when you remove Transportation, it only jumped up by 2.4%.  Stocks are (again) in Mixed Territory, as DOW continues it's recent path in the Red.  There hasn't been any catalysts to really dictate the Markets, so Investors will be watching tomorrow's speech by Fed Chair Jerome Powell.  Typically, they'd be in Jackson Hole, WY; but due to the recent events, it will be viewed online.  This will be especially important for Mortgages because he has recently talked about letting inflation rise above the 2% target rate.  If you're not aware, then MBS are bonds, which are long-term investments.  Inflation is the enemy of bonds because it takes away it's value over the term of the investment.  This could potentially have a big impact on Mortgage Rates, depending upon what he states on this topic.  Currently, MBS is Down 5bps, so Mortgage Rates remain Unchanged from yesterday's pricing.  Yields are hovering just above 0.71%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/25/20

 http://MikesDailyMarketReport.com: The Case Shiller Home Price Index rose 4.3% in June.  Consumer Confidence dropped from 91.7 in July to 84.8 in August.  However, we do have a silver-lining with New Home Sales, as it jumped from 791k in June to 901k in July.  Stocks are in Mixed Territory this morning, as the DOW is the lone index in Red today.  It's down a little more than 100 points.  The US and Chinese counter-parts finally connected to review the Phase One Agreement, which was being reported as being constructive and went well.  Also, the DOW elected to shift some of it's weighted balance of it's index by moving some of the companies around with their new adjusted weights.  MBS is Down 19bps this morning and reaching the low levels that we saw about 2 weeks ago.  So, Lenders will price Mortgage Rates a bit worse today.  Meanwhile, Yields have shot back up to the levels found about 2 weeks ago too; and currently just sits below 0.71%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/24/20

 http://MikesDailyMarketReport.com: There are no economic data to report today, but there will be some important data to be reporte the remaining parts of this week.  Stocks are Up this morning, as we approach closer to some treatments and vaccinations for COVID-19.  The FDA is approving the use of Plasma for treatment of COVID -19 patients; and President Trump is opening the door for the possibility of Astra Zaneca's vaccination to be approved to be used in the US.  Meanwhile, MBS is hovering around it's 25 DMA still and testing it.  It's currently Up 5bps; so Mortgage Rates continue to move more in a sideways pattern and remain Unchanged from Friday's pricing.  Yields are hovering around it's 50 DMA and sitting around 0.64%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/21/20

 http://MikesDailyMarketReport.com:  The Markit Manufacturing PMI improved from 50.9 in July to 53.6 in August.  The Markit Services PMI improved from 50.0 in July to 54.8 in August.  So, according to Markit PMI, both the Manufacturing and the Services Sectors of our economy show signs of improving.  Also, Existing Home Sales topped June's record of 4.70 million annualized units to 5.86 million in July.  This is due to new trends of people leaving the urban areas to suburbs and rural areas, as many realize they don't need to live in the urban areas to work, as they can work remotely.  Stocks are Up and inched up higher on the economic data being reported today.  Investors are also watching for signs on China, as they try to come together and review the progress on Phase One, but US side has been reluctant.  Some of the drug companies, like Pfizer, have announced that they should come to Market with a vaccine by October.  Also, watching the progress (or lack thereof) of a new Stimulus Package, as it's seen to be a matter of when, not if.  It's deemed as essential to get the economy back into shape.  MBS keeps showing signs that it wants to go higher, but seem to lose steam during the trading day.  So, like most of this week, Mortgage Rates appear to be Unchanged from yesterday's pricing.  It's been testing it's 25 DMA, which has been holding.  At some point, I think it will rise, as it's searching for some catalyst to boost it.  Yields have fallen a bit more and currently sit just under 0.64%, and near it's 50 DMA.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/20/20

 http://MikesDailyMarketReport.com: The Initial Jobless Claims reported today was a bit of a disappointed after last week's (revised) 971k people applying for first time unemployment benefits, jumped back above the 1 million mark at 1.11 million for last week.  The Manufacturing in the Philadelphia dropped a little in August, but remains relatively good, as the Philly Fed Index dropped from 24.1 to 17.2.  Also, the Leading Indicators show more regression in the upcoming months, as it went from 3.0% in June to 1.4% in July.  Stocks are Up a bit this morning, but Investors are still worried that an Stimulus Packages hasn't been agreed upon yet, as they  view this as essential to any recovery.  The FOMC Minutes clouded the view of a recovery, as they view July's position even more uncertainty of the economy than June's meeting.  MBS has started a bit of a new trend that they're gradually improving, but at a slower pace.  They're starting the day much higher, but pull back late in the day (losing most of the gains from the day).  Currently, it's sitting just above it's 25 DMA and Unchanged from yesterday's close.  Mortgage Rates will be priced about the same as yesterday's pricing; or in some cases (due to last week's FHFA's tax on refinances on conventional loan refinances) could be a little worse, as Lenders are still adjusting to this new tax.  Yields are currently below that double layer of support (the 100 DMA and technical level) and is sitting just under 0.65%.  It did touch off it's 50 DMA earlier, but has since pulled back from it.  But it's trending back in that direction.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/19/20

 http://MikesDailyMarketReport.com: The only economic data being reported today is the FOMC Minutes from the Fed's Meeting last month.  This will be released a little later this morning, and there are no expectations of anything being of surprised, as the Fed has been very transparent of their thoughts.  Stocks are Up today, as Investors preview earnings from Retail Sector; and Target and Lowes had reported better than expected results.  The Markets are taking it's queue from these reports today.  Investors are still watching for any compromise between the Republicans and Democrats on a bill to help those adversely affected from the Pandemic.  Also, tensions keep rising between US and China, as the State Department has warned US Universities of their investment positions with Chinese companies whom may be delisted from the US Stock Exchanges.  MBS has broken above it's 25 DMA and Up 14bps.  This will lead to some better pricing for Mortgage Rates today.  Yields are fighting to stay above a double floor of support (100 DMA and a technical level), and currently sit a hair under 0.66%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/18/20

 http://MikesDailyMarketReport.com:  We had very good numbers in Housing today, as  indicated by the higher Home Builders Confidence.  In Housing Starts for July, they jumped from 1.220 million seasonally adjusted units in June to 1.496 million in July.  The Building Permits (future housing starts) also, jumped from 1.258 million seasonally adjusted units in June to 1.45 million in July.  Stocks are in Mixed Territory this morning, as the DOW is again trading in the Red.  Tension grew some more between US and China, as President Trump posed more restrictions on Hauwei, which he commented that the company's products are "spyware" for China.  The Republicans plan to introduce a "skinny" stimulus package, which will include $10 billion toward the Post Office.  Comments by Mitch McConnell yesterday deflated the Market a bit, as he stated that an agreement may not happen, even while they negotiate.  MBS is Up 20bps this morning, after it pulled back some late yesterday (closing +9bps); but this is enough for Lenders to price a bit better for Mortgage Rates today.  They are approaching back above it's 25 DMA.  Meanwhile, Yields have slipped to 0.66% and approaching to a possible double layer (100 DMA and a technical level) of support.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/17/20

 http://MikesDailyMarketReport.com: The Manufacturing data disappointed in August, after July's 17.2, was followed by 3.7 in August.  However, the NAHB Home Builders Index rose from 72 in July to 78 in August, as the migration from Urban areas are leading those to the suburbs and New Homes.  Stocks are in MIxed Territory this morning, as the DOW is the lone index in the Red.  Investors are watching the different components on a Market Recovery, and have come to the conclusion that a V shaped recovery won't happen; but are hopeful that they will see signs that it will continue to pick up.  MBS is currently Up 17bps and Mortgage Rates will have better pricing today (compared to Friday's close).  Yields have come Down a bit to just a hair over 0.67%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/14/20

 http://MikesDailyMarketReport.com: Retail Sales disappointed in July, as it came in at 1.2%, after a 7.5% jump in June.  When you exclude Autos, it went up 1.9% in July.  Productivity rose by 7.3% in Q2 and Unit Labor Costs rose by 12.2%.  Industrial Production continues to progress, as it rose 3.0% in July.  Capacity Utilization rose from 68.5% in June to 70.6% in July.  Consumer Sentiment rose to 72.8%, after forecasts called for a drop.  Business Inventories continue to decline, as they declined 1.1% in June.  Stocks are Mixed again today, but this time, NASDAQ is lone index in Red.  Not much news on Congressional negotiations for new Stimulus package, COVID-19 or tensions with China, as they've been our main headlines for awhile now.  However, Lenders repriced for the worse during the afternoon yesterday, and closed down 9bps.  This morning, we're currently Up 3bps, so Mortgage Rates are Unchanged from pricing after yesterday's close (but lower than yesterday's start).  Also, for those whom are refinancing with conventional loans and received a rate quote from Wednesday or later, then now your looking at a 0.5% increase to the fee of the rate you were quoted.  So, if you have a $300k loan and quoted 0 points, then now you're paying 0.5% point, or $1,500 for that previously quoted rate on top of any Market Changes.  This is due to the new Government Tax (imposed by FHFA -not to be confused with FHA), which Lenders will pass onto the Consumer.  This doesn't affect purchase or any other loan programs.  This is just to make you aware why  you may see any drastic changes in previous quotes.  Meanwhile, Yields have climbed nearly to 0.70%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/13/20

 http://MikesDailyMarketReport.com: The Initial Jobless Claims finally dropped below 1 million since the Pandemic, as it reported 963k people applying  for unemployment benefits for first time; which last week's number was 1.19 million.  Stocks are Mixed today, as the DOW remained the lone index in Red.  Not much else is new, as Congress continues to blame one another for not coming to a resolution to a new Stimulus package and numbers are subsiding with COVID-19 cases.  There was one surprise last night that will affect people, whom are looking to refinance their conventional loans (Fannie Mae and Freddie Mac), which they announced (as many would call) a tax of 0.5% point price adjustment effective immediately; so, if you're in middle of refinance and haven't locked yet, then you'll see a 0.5% price adjustment to your cost of the interest rate.  This means that if you're refinancing a $300k loan and were paying 0 points for your rate, then you're going to pay an additional $1,500 for that same rate.  This move surprised everybody.  Meanwhile, MBS started the day much higher and has subsided to +5bps from yesterday's close, so some Lenders (mostly east coast) may reprice for the worse; and here on the West Coast will see (with exception to the new tax) the same pricing as yesterday.  Meanwhile, Yields continue to rise, and currently sit around 0.68%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/12/20

 http://MikesDailyMarketReport.com: The Consumer Price Index rose 0.6% in July, which it's YoY jumped up from 0.6% to 1.0%.  The Core CPI (excluding food and energy) also rose 0.6% in July, and it's YoY increased from 1.2% to 1.6%.  Stocks are Up this morning on overall good sentiment regarding the improving economic trends and progress in COVID-19 between vaccinations coming out soon and cases dropping.  MBS dropped a bit further yesterday (closed down 34bps), so pricing worsened yesterday; and this morning, it was down further, but it's currently Down 3bps.  This worsening trend will push Lenders to come out with a little worse pricing to cover themselves from any further Market deterioration throughout the day.  Yields have skyrocketed over the past few days; as the Markets compete with Stocks for investment dollars, over supply for auctions this week and the Fed's new stance on Inflation.  They are currently around 0.66%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/11/20

 http://MikesDailyMarketReport.com: The NFIB Small Business Index dropped from 100.6 in June to 98.8 in July, as many states reconstituted some form of lockdowns.  The Wholesale Inflation data rose in July, as the Producer Price Index rose by 0.6% in July; and the Core PPI (excluding Food and Energy) rose by 0.5%.  Stocks are Mixed this morning, as the NASDAQ again is the lone index in the Red.  Congress reconvenes their negotiations with another Stimulus Package.  Russia becomes the first to release COVID-19 vaccines.  Mortgage Rates worsened a little bit today, as the MBS is currently Down 17bps.  Meanwhile, Yields have skyrocketed to just over 0.65%.  In the process, they've climbed past their 25 DMA, another ceiling and right near the 50 DMA.  We'll want to watch, as this may be an indicator for MBS to pull back it's recent gains.

 Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/10/20

 http://MikesDailyMarketReport.com:  No economic data to report today.  Stocks are Mixed, as the NASDAQ is lone index in Red.  President signed Executive Order to extend portions of the Pandemic Stimulus, including unemployment benefits and assisting renters.  There may be legal proceedings to block it.  Also, tensions continue to escalate between US and China.  China counters US' 45 day warning of ban on dealings with BytDance and Tencent by restrictions on more people and companies whom support them over criticisms of China.  MBS is currently Up 6bps, so Mortgage Rates remain Unchanged from Friday's close.  Yields are widely fluctuating, as they test it's new ceiling, but have dipped some (almost to new floor).  They currently sit just under 0.57%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

Daily Market Report 8/7/20

 http://MikesDailyMarketReport.com: The Non Farm Payrolls rose by 1.76 million in July, as it exceeded it's forecast of 1.68 million.  Also, the Unemployment dropped from 11.1% in June to 10.2% in July (almost a full percent).  The Average Hourly Earnings, also, exceeded it's forecast of -0.5% in July by reporting +0.2%.  The Wholesale Inventories dropped by 1.4% in June.  Stocks are Down this morning, as Job creations have slowed, which makes a Stimulus Package even more dire, in the minds of the Investors.  President Trump issued a 45 day window for Tech Companies to stop doing business with Chinese Companies, TikTok and Tencent. This puts a timeframe on negotiations between Microsoft and TikTok.  MBS are Up 2bs, so there's currently no change in Mortgage Rates from yesterday.  Yields have pushed back Up to just over 0.56%.

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.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

Daily Market Report 8/6/20

http://MikesDailyMarketReport.com: Initial Jobless Claims improved this week, as 1.19 million people applied for first time benefits.  This is down from last week's 1.44 million; and lower than forecast of 1.40 million.  Stocks are Down this morning after a sharp rally yesterday.  Not much news, as Congress is still far apart on any Stimulus negotiations and Corona virus numbers continue to rise.  MBS is Up 13bps reclaiming quite a bit of yesterday's (-19bps) loss.  Mortgage Rates are priced a little better today.  Yields are sitting just under 0.52% currently.

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.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

Daily Market Report 8/5/20

http://MikesDailyMarketReport.com: We get to look at the first of 3 employment numbers for July today, starting with the ADP Employment.  June's numbers were revised higher, from 2.37 million to 4.31 million.  However, July's data was sorely disappointing, coming in at 167k.  Investors are shaking it off a bit, due to the June's much higher revision.  Markit Services PMI reached expansion territory, when it registered 50.0 on it's index.  Also, the ISM Services Index jumped up to 58.1%.  Both of these Services Indexes are reporting for July's numbers.  Stocks took notice of the Service Industry data; the better than expected earnings reports that came out today; and comments by Steven Mnuchin regarding an agreed time frame, as to when Congress will complete a Stimulus package, which will be Friday.  So, Stocks are in Positive Territory.  MBS are currently Down 13bps based on the Market News, but also, the announcement of the volume being sold at auction, which the increase in supply is lowering prices (hence, increasing yields).  Mortgage Rates are priced a little worse today (compared to yesterday's close).  Yields are Up again, and sitting just under 0.55%.

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.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

Daily Market Report 8/4/20

http://MikesDailyMarketReport.com: Factory orders continued into June with positive results, as it increased by 6.2%.  Stocks are lightly trading today in Positive Territory.  Investors are watching Congress, as they negotiate a new Stimulus Bill.  MBS is currently Up 8, but it has fluctuated higher (Up 13bps); so, most Lenders will have their rates remain Unchanged, but the more aggressive Lenders may have priced slightly better today.  Yields have come back lower this morning, and currently sit just above 0.52%.

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.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

Daily Market Report 8/3/20

http://MikesDailyMarketReport.com: Markit Manufacturing dropped a little bit in July, as it went from 51.3 in June to 50.9 July. ISM Manufacturing Index rose from 52.6% to 54.2%. Anything above 50 is considered in expansion territory; and the ISM Manufacturing is considered the "gold" standard. Construction Spending dropped by 0.7% in June. Stocks are all trading in Positive Territory this morning. There's no news regarding any agreement for next round of Stimulus, as the $600/week benefit expired on Friday. Also, we're still seeing Earnings Reports being released. Reports show that Manufacturing in both Europe and China improved, as well. The big news over the weekend is the talk about the possibility of TikTok being banned in the US, and possibly Microsoft buys it's US operations. MBS are currently Unchanged from Friday's close; so Mortgage Rates remain Unchanged. Yields broke above it previous ceiling and sitting just below 0.56%. The previous ceiling was initially it's floor until last Thursday when Yields dropped below it (Friday, it tried, but failed to remain above). 

 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. 

 Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt