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%.
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