http://MikesDailyMarketReport.com: The NAHB Home Builders Index indicate the growing confidence with Home Builders in the month of October, as it rose from 83 in September to 85 in October. Stocks started of in Positive Territory, but soon after, went into the Red. The hopes for a Stimulus package prior to the election is quickly dwindling down, which this optimism is helping to prop up both stocks a yields. The release of Q3 Corporate Earnings Reports will continue this week, which we have Netflix and Tesla being released this week. Investors were impressed with China's report for Q3, which grew to 4.9% and pushing it closer to it's 2020 forecasts of 5.5% -6.0% range. MBS started much lower this morning; however, as the Stock Market turned Red, then they rose to Unchanged pricing from Friday's close (still just below it's 25- and 50 DMA). Pricing may have been a little worse this morning for the East Coast, but should have improved to Unchanged levels (based on Friday's close) on Mortgage Rates; and West Coast should be pricing in at the same levels as Friday's close. Yields have been rising on optimism for a Stimulus package; and have rose above another Technical Level. It's sitting around the 0.77% level.
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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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