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.
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