Friday, October 9, 2020

Daily Market Report 10/9/20 The Wholesale Inventories rose 0.4% in August.  Stocks are in Positive Trading on continued optimism of another Stimulus package.  The talks are ongoing and seem to be mixed; however, this isn't affecting the optimism by the Investors.  MBS opened below the 25- and 50 DMA and have crept up higher, but it's still Down 2bps from yesterday's close.  Yesterday, the MBS lost more ground and closed just above it's 25 DMA.  This combined loss of support has led Lenders to price Mortgage Rates a bit higher today.  Yields are testing both it's floor and ceiling and moving within it's range.  It's currently at 0.77%.

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