Daily Market Report 11/30/20

 http://MikesDailyMarketReport.com:   The Chicago PMI, which measures manufacturing in the Chicago area, dropped from 61.1 to 58.2 (anything above 50 is considered growth or expansion).  However, Pending Home Sales dropped 1.1% in October.  Stocks are taking a bit of a breather, after a pretty big month, as all 3 indexes are in Negative Territory.  It was reported last night that President Trump may add 2 large Chinese companies to the Export Blacklist (SMIC, their largest chip maker, and CNOOC, an oil giant.  This doesn't appear to be affecting the Markets at this time.  Meanwhile, MBS is Up 8bps (after closing upwards of 25bps on Friday's short open).  So, you'll find an improvement with Mortgage Rates from Wednesday's rates (maybe as much as 0.25% to the rate improvement).  Yields have been pushed below it's 25 DMA again, and it's trying to work it's way back above it.  It's sitting just under 0.85%.

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

Daily Market Report 11/25/20

 http://MikesDailyMarketReport.com:   The 2nd reading for the Q3 GDP remained Unchanged at 33.1%.  The Durable Goods Orders revised their September numbers from 0.5% to 2.1%, but it came in at 1.3% for October; when you exclude Transportation, then it rose 1.3% in October.  Last week's Jobless Claims were revised higher from 742k to 748k, which this week's report came in at 748.5k.  The Continued Claims have dropped by approximately 300k too. Personal Income was revised from 0.9% in September to 0.7%; however, it dropped 0.7% in October.  Consumer Spending revised their September number of 1.4% to 1.2%, which October reported 0.5%.   The PCE (Personal Consumption Expenditure) remained Unchanged in October; and it's YoY dropped from 1.4% to 1.2%.  The Core PCE (excludes food and energy -and is Fed's favorite gauge for consumer inflation) also remained unchanged for October; however, it's September report was revised higher from 1.5% to 1.6% for YoY and dropped down to 1.4% in October.  The Fed would like this number closer to 2.0% (and maybe even 2.5% for a duration).  New Home Sales for September were revised higher, from 959k to 1.002 million; however, it's October annualized units shrunk down to 999k.  The Consumer Sentiment slightly dropped from 77.0 to 76.9 in November.  Later today (around 11am PST) the FOMC Minutes will be released.  Stocks are trading in Mixed Territory, as Investors cash in on profits after big day for DOW and S&P yesterday.  NASDAQ is lone index in Positive territory today.  MBS is Up 13bps, so Mortgage Rates should be improved from what we've seen this week; and in close alignment to what we saw on Thursday/Friday of last week.  Yields are sitting at 0.87%.

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

Daily Market Report 11/24/20

 http://MikesDailyMarketReport.com: The Case Shiller Home Price Index saw a big spike in home appreciation for the month of September, as it rose 6.6% YoY.  Meanwhile, the Consumer Confidence dropped a bit in November to 93.1, from October's 100.9.  Stocks are Up this morning, as the DOW hit another Milestone -trading over 30k for the first time!  Even though cases have increased, Investors are feeling better about the vaccines and medical help to treat them.  Meanwhile, Biden has tabbed former Fed Chair Janet Yellen to be his Treasurer once (or if ) he takes office.  MBS is currently Down 3bps, but were down further earlier this morning.  East Coast Lenders may have priced a bit worse due to this; however, pricing is Unchanged from yesterday, here, on the West Coast for Mortgage Rates.  Yields are clawing their way back up, as they are now sitting around 0.88%.

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

Daily Market Report 11/23/20

 http://MikesDailyMarketReport.com: Today, we received reports from the IHS Markit PMI, which they show Manufacturing rising from 53.4 in October to 56.7 in November; and Services rose from 56.9 in October to 57.7 in November.  Overall, a very good report!  Stocks are Mixed this morning on light trading, as this is a short Holiday week.  NASDAQ is the lone index in the Red this morning.  The Headline news mostly covers some optimism for COVID related news on vaccines and Health Officials okaying experimental drugs to help with COVID patients, as numbers rise; and worries about it spreading more during the Holiday season, as families gather.  MBS is Down 14bps this morning, so Mortgage Rates crept up slightly (about an .125% to the rate).  Yields jumped above it's 25 DMA and Technical level this morning, and now sits just under 0.86%.

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

Daily Market Report 11/20/20

 http://MikesDailyMarketReport.com:  We don't have any economic data to report today.  Today is the last full week prior to Thanksgiving, as many of the large Hedge funds will be out all of next week for vacation, so it could get a little choppy due to the smaller investors.  Currently, the Stock Market is Mixed, as the NASDAQ is the lone index in Positive Territory.  All week, investors have been deliberating back-and-forth between optimism with the vaccines and the current status of the rising cases.  We had a surprise announcement by the Treasury today when Mnuchin requested the balance of the unused funds for the special lending programs created under the first Stimulus, which were set to expire at the end of the year.  The Fed prefers to hold onto the funds, as means to help the Markets feel secure; whereas, the Treasury feels that it is it's obligation to return the unused funds to Congress and re-position it, as they see fit (possibly another stimulus).  The reaction by the Markets isn't too big on this news, but the Media is playing this out like there's a rift between the 2 agencies.  Meanwhile, MBS is Down 5bps this morning; however, MBS had further gains yesterday afternoon; so, this has led to Mortgage Rates remaining the same, or Unchanged from yesterday's pricing.  Also, Yields have been pushed under it's double layer of Technical level and 25 DMA, and trying to work it's way back.  It's currently sitting just under 0.84%.

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

Daily Market Report 11/19/20

 http://MikesDailyMarketReport.com:  The Manufacturing in the Philadelphia region dipped a bit in November, as the Philly Fed Index shows it went from 32.3 in October to 26.3 in November.  This is still a relatively high number, but we'll watch this trend.  However, the Initial Jobless Claims jumped up to 742k last week, after we were seeing approximately 4 weeks in a row with declining data.  On a positive note, Existing Home Sales jumped up from 6.54 million annualized units in September to 6.85 million in October.  Also, the Leading Economic Indicator continued it's trend of rising 0.7% in October.  Stocks are in Mixed Territory this morning, as the NASDAQ remains the lone index in Positive Territory.  The rise in COVID cases and announcements of further lockdowns, including the NYUSD announcing students will return to online learning yesterday.  This will further cripple the economy, especially without any stimulus coming any time soon!  MBS has regained it's losses this morning, as Mortgage Rates improved.  We should be priced the same as we saw at the close of Tuesday's pricing.  MBS is currently Up 9bps.  Yields continue to be held below it's Technical level and sit just below 0.86%

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

Daily Market Report 11/18/20

 http://MikesDailyMarketReport.com:  Housing Starts rose from 1.415 million annualized units in September to 1.530 million in October; however, Building Permits remained Unchanged at 1.530 million.  Stocks are trading in Positive Territory, as Investors go back-and-forth with corona virus cases rising and soon to be released vaccines.  Pfizer announced their final testing came in at 95% and will be applying for the vaccines.  Meanwhile, MBS is Down 8bps and appear to be losing more ground as this report is being completed.  We had a price improvement yesterday and closed Up 25bps, which was Up from +13bps when I did yesterday morning's report.  This basically means that Mortgage Rates are worse than where we closed yesterday; however, its' about the same as yesterday morning's report.  Yields are now challenging it's new Technical ceiling, as it sits just under 0.87%.

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

#Home Buying,#Home Loans,#Interest Rate Trends,#Interest Rates,#Mortgages,#Refinance

 http://MikesDailyMarketReport.com: Import Prices dropped by 0.1% in October.  The Retail Sales report indicated it's lowest MoM increase since the Pandemic with a 0.3% in October; but if you exclude Autos, then it was only 0.2% increase.  The Retail Sales has become a more important data point to Investors, as they watch Consumer activity; whereas, they already see that Jobs aren't returning as fast as one would wish.  Capacity Utilization increased to 72.8% in October.  Industrial Production increased by 1.1% in October.  The NAHB Housing Market Index rose from 85 in September to 90 in October.  Lastly, Business Inventories rose 0.7% in September.  Stocks are Down on the Retail Sales data this morning.  Meanwhile, MBS broke above it's Technical ceiling and are Up 13bps.  Mortgage Rates will show some improvement based on this projection.  Also, Yields have slid below it's Technical floor and sit around 0.87%.

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

Daily Market Report 11/16/20

 http://MikesDailyMarketReport.com: There are no economic data to report today.  The main headline affecting the Markets is Moderna's announcement that their vaccine has 94.5% efficacy (higher than Pfizer's report last week).  Stocks are Up this morning on the news; however, a bit more moderate compared to last Monday's report, which settled down a bit throughout the remaining week.  MBS is Unchanged from Friday's close, so Mortgage Rates also remain Unchanged.  Yields have risen to just under 0.91%.

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

Daily Market Report 11/13/20

 http://MikesDailyMarketReport.com: The inflation on the Wholesale side of the economy (also, as we had CPI yesterday) pull back in October, as the Core PPI rose only 0.1% in October, and it's YoY dropped from 1.2% to 1.1%.  The headline PPI, however, rose 0.2% for MoM in October.  Consumer Sentiment dropped in it's mid-readings in November from 81.8 in October's final reading to 77.0 so far in November.  Much of this has to do with renewed concerns over rising cases of coronavirus and talk of more lockdowns.  Stocks are Up this morning on primarily due to good reports from Disney, Cisco and 3M.  Investors are watching with optimism for future growth with talk of vaccines, etc.., but also, realizing the present, with rising cases and talk of more lockdowns.  MBS is currently Unchanged from yesterday's close; however, MBS did continue it's rally yesterday (closing +38 bps).  Many Lenders repriced yesterday with better Mortgage Rates.  So, Mortgage Rates should be priced around yesterday's close and better than yesterday's opening.  Yields are bouncing off it's Technical level of Support and now up to 0.89%.

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

Daily Market Report 11/12/20

 http://MikesDailyMarketReport.com: The CPI and Core CPI were flat in the month of October; so, both of their YoY results dropped.  The CPI dropped from 1.4% to 1.2% and Core CPI dropped from 1.7% to 1.6% in October.  Also, we have good news on Jobs; whereas, the Initial Jobless Claims continue to decline, which only 709k people applied for first time benefits last week.  Another important factor to consider is the continuing jobless claims dropped below 7 million for the first time since this whole Pandemic began (6.786 million).  Stocks are in Mixed Territory, as NASDAQ is the lone Index in Positive Territory.  Investors are getting worried about the spikes in the COVID numbers and rhetoric about possible lockdowns again.  Meanwhile, MBS has jumped above it's 100 DMA and is Up 20bps; so, Mortgage Rates have shown some improvement from Tuesday's close.  Yields have come down abit, and sit just under 0.92%.

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

Daily Market Report 11/10/20

 http://MikesDailyMarketReport.com:  No economic data to report today.  Market will be closed tomorrow, so next report will be Thursday.  Stocks are in Mixed Trading, as the NASDAQ being the lone index in the Red.  Investors are re-evaluating their positions in the Market, as cases of COVID are increasing in many areas.  The vaccine was good news, however, it will take months for it to be accessable.  Meanwhile, MBS had a Bond Rollover, which occurs monthly.  This is why it appears lower on the chart, but pricing hasn't been affected.  It's simply a reset for MBS.  MBS pulled back yesterday, as it faced -63bps, then it closed -44bps.  Most lenders didn't change their pricing, but you may see that slight improvement today.  We're currently Up 5bps; and on the chart, sitting just below it's 100 DMA.  Yields are trying to break above it's next Technical Level, but it seems to be holding.  It's currently sitting at 0.95%.

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

Daily Market Report 11/9/20

 http://MikesDailyMarketReport.com: There are no economic data to report.  There's only some Treasury Auctions scheduled for today.  Most of the data will be reported on Thursday and Friday of this week.  The Market will be closed on Wednesday, due to Veterans Day.  Stocks are WAY Up this morning, as the DOW has topped 1k.  The Market is being driven primarily due to updates on COVID-19 vaccinations, as Pfizer and BIO N Tech reported high success rates on their late stage testing.  I believe Pfizer reported 90%, which 50% is considered ok.  Also, many pundits are counting the elections to Biden, as these are just the forecasts, not the actual certifications.  We'll most likely see the outcome in a few months, assuming it will go to the Supreme Court.  Meanwhile, the Stocks big surge has pulled investment dollars from Bonds, as MBS is Down 63bps; which means that Mortgage Rates has seen worse pricing today.  Yields have shot all the way Up to .95%.

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

Daily Market Report 11/6/20

 http://MikesDailyMarketReport.com: Today is the big day for Jobs Data, which the Bureau of Labor Statistics released thier reports.  The Average Earnings modestly rose 0.1% in October.  The Non-Farm Payrolls rose by 638k new jobs, while the Unemployment Rate dropped from 7.9% in September to 6.9% in October.  This can be a little misleading, as we saw an uptick in people leaving Unemployment for part-time work.  We saw some of this after the Credit Crisis.  Lastly, the Wholesale Inventories rose by 0.4% in September.  Stocks are Up again today, as we go thru more Election saga.  The Fed provided their announcement yesterday, which didn't change much, but they did reiterate the necessity of rolling out another Stimulus program, as many people are really struggling.  MBS is currently Down 16bps, so Mortgage Rates have worsened (about an 0.125% to the rate).  While Yields skyrocketed past it's 25 DMA and next Technical level to 0.82%.

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

Daily Market Report 11/5/20

 http://MikesDailyMarketReport.com: Last week's Jobless Claims were revised higher by 7k (758k), and this week's report came in at the same as last week's initial number of 751k.  Productivity for Q3 preliminary numbers show a 4.9% increase.  Q2 had a revision to 10.6%, from 10.1%.  Q3 Labor Costs had preliminary numbers reflecting a loss of 8.9%; after it's Q2 was revised lower from 9.0% to 8.5%.  Stocks continue their Positive run, as more investors sink in more investment dollars that sat on the sideline due to Uncertainty in the Markets, but it seems to becoming a bit clearer now, as more states reveal their tallies; however, we do expect a final announcement to be delayed, as these results will be contested in the courts.  The Fed will be wrapping up their FOMC today and provide their announcement later today.  We don't expect any movement from them at this time.  More focus has been placed on the election results.  MBS continue it's rise, as it's Up 13bps currently.  Mortgage Rates will look a little nicer today!  Yields started lower, but has risen a little bit today; and is currently sitting at 0.76%.

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

Daily Market Report 11/4/20

 http://MikesDailyMarketReport.com: This week, we'll see Jobs data from Octobers numbers.  Today, we have the ADP Payroll, which (very much) underwhelmed us with 365k new jobs in the Private Sector.  This is after 749k was reported in September; and forecasts called for 650k in October.  The ISM Non-Manufacturing PMI Index dropped from 57.8 in September to 56.6 in October.  The Markit Services showed a completely different story, but we didn't have it on our calendar to report the actual number; but, it indicated that it rose in October.  The ISM is a more closely watched index, compared to the Markit index.  Stocks are WAY Up this morning, as Investors become clearer on possibility of economic stimulus; but there's some Uncertainty, as to whom will win the Presidential race.  The Senate seems to be intact with Republican control (even when they lost one seat).  This has been the stalemate for a much larger stimulus package, as the Senate wants a smaller package.  This has created more certainty for the Markets.  The House appears to still be under control by Democrats (even though they lost a few seats).  The counts are too close to call for a number of states for the Presidential election, so it will take longer to get any results; and this will most likely result in legal battles, which will delay the results of a winner.  Meanwhile, we are still receiving Corporate Earnings Reports, which have been decent; but nothing of note to report in this video.  The Fed begins their 2 day meeting, which was delayed by a day, due to the Election yesterday.  The FOMC will provide their announcement tomorrow, which we don't anticipate anything new from them.  MBS has leaped UP 56bps on the election results, which means that you'll find a fairly nice improvement in the Mortgage Rates today.  Yields have fallen considerably, Down to 0.77%, which they were Up to approximately 0.90%.  This is mostly the result of the election on the Senate seats, as it will appear that the next Stimulus won't be as large as what the House was offering.  Having less debt, is lowering the yields!

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

Daily Market Report 11/3/20

 http://MikesDailyMarketReport.com: Factory Orders rose by 1.1% in September.  Stocks are Up on upcoming US Election today and Q3 Corporate Earnings continue to go well.  MBS is Down 8bps so far this morning, after losing it's momentum yesterday.  Lenders repriced for the worse yesterday and have reported even worse pricing than yesterday's close.  One silver lining is the possibility of a contested election results, which will create uncertainty in the Market.  This could potentially help Mortgage Rates, at least temporarily.  We'll watch for the election results.  Meanwhile, Yields are pushing against another Technical Level, which we haven't seen since March.  It's sitting around 0.89% now.

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

Daily Market Report 11/2/20

 http://MikesDailyMarketReport.com: The ISM Manufacturing finished October at 59.3 (vs. September at 55.4).  Quite a Jump!  And great news for Manufacturing sector!  However, Construction Spending came in only Up .3% (wich forecasts calling for 1.0% increase).  Investment Dollars appear to be coming back into the Markets, after last week's selloff.  Stocks are Up this morning on the ISM report and Q3 Corporate Earnings.  Elections are tomorrow, and have Investors worried over a delayed winner.  This could lead to a drop in stocks in the coming days, if this occurs; however, this may help MBS and Mortgage Rates!  Currently, MBS is Up 16bps (topping both it's 25- and 50 DMA).  Lenders will provide better pricing for Mortgage Rates this morning!  Yields have fallen Down to 0.83%.

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