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%.
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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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