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%.
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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