Tuesday, September 15, 2020

Daily Market Report 9/15/20

 http://MikesDailyMarketReport.com: The Manufacturing in the NY region spiked in September, as the Empire State Index reports it went from 3.7 in August to 17.0 in September.  Industrial Production Index reported an increase of 0.4% in August; while Capacity Utilization improved from 71.1% in July to 71.4% in August.  Stocks are Up this morning on some Tech News, as some Mergers being announced (like NVidia's announcement); and Apple will present some of their new product lines today.  The FOMC begins their 2 day meeting today and provide their announcement tomorrow.  This will be an interesting meeting, as media and investors have a lot of questions for the Fed regarding their big announcement about 2.5 weeks ago with their new "average" inflation target related to jobs policy change.  MBS lost their footing later in the day yesterday, as the Stock Market had begun to heat up, and closed down 9bps.  This morning, it's currently Down 5bps, so Lenders will price Mortgage Rates a little worse today.  Yields are trying to break above it's 25 DMA and currently sits at 0.68%.

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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

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