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.
No comments:
Post a Comment