Dedicated to provide mortgage interest rate trends for people whom will like to learn more about interest rates in California. The daily posts help to provide current interest rates for home loans. A great tool for people looking to buy a home, refinance or real estate professionals.
http://MikesDailyMarketReport.com: Initial Jobless Claims dropped this week to 787k from last week's revised report of 806k. We're also seeing Continuing Claims continue to decline, which is good news! Stocks are facing razor thin trading today, as Markets will close early today for New Year's Eve. S&P is the only index in positive territory. MBS is currently Up 11bps so far this morning. If you couple that with yesterday's gains, then you should find slightly better pricing fom Lenders today. Yields have slid down to it's 25 DMA (just under 0.92%). Well within it's trading range!
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 please direct message me.
http://MikesDailyMarketReport.com: Manufacturing in the Chicago region improved in December, as the Chicago PMI rose from 58.2 November to 59.5 in December. Pending Home Sales continued it's decline into November, as it dipped another 2.6%. Stocks are trading in Positive Territory this morning. As expected, the Senate rejected the change in the Stimulus package that would have increased the $600 to $2k check to the people. MBS lost some ground yesterday, but still remained above the 25 DMA. This morning, it's re-tracing it's previous gains and is Up 5bps. Mortgage Rates remain Unchanged from yesterday. Yields also remain Unchanged, as it remains just under .94%.
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 please direct message me.
http://MikesDailyMarketReport.com: The Case Shiller HPI showed a spike in Home Appreciation in October, when it jumped Up from 6.6% YoY appreciation to 7.9%. Stocks are in Mixed Territory, as trading continues to be light during the Holidays. The House brought up a measure to increase the Stimulus payout to Americans from $600 to $2,000, which President Trump touted. However, it's now up to the Senate to vote. Mitch McConnell is set to speak today, and everybody is expecting him to state whether or not, this measure will come to a vote in the Senate; so, stay tuned! MBS started the morning off lower than yesterday's close (which did close above the 25 DMA); however, has risen back above the 25 DMA; and is currently Up 5bps. Factoring yesterday's late surge and today's gains, Mortgage Rates should see a slight improvement in it's pricing. Yields are holding steady at just under 0.94%.
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 please direct message me.
http://MikesDailyMarketReport.com: There's no economic data to report today and this will be another light week in terms of Market Trading, as we continue thru the holidays. Stocks are Up this morning on President Trump's reversal on his stance of vetoing the Stimulus Bills, which contain a lot of money to other countries and entities than the American Consumer, which he wanted to get more funds to them. So, now the Brexit and Stimulus Package has certainty; then the next items that Investors will watch will be the Georgia runoff and the COVID numbers. MBS started the morning off much lower (just under it's 50 DMA) and rose much higher. It's currently about 2bps from last Thursday's close and had earlier touched the 25 DMA. Mortagage Rates should be around the same range as last Thursday's pricing and better than last Wednesday's pricing (when I last did my report). Yields are up against it's Technical ceiling at just over 0.95%.
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 please direct message me.
http://MikesDailyMarketReport.com: The Core PCE, which is Real Inflation and used by the Fed, remained Unchanged on it's YoY data at 1.4%. The Initial Jobless Claims revised last week's report from 885k to 892k; however, this weeks report showed it declined to 803k. Durable Goods Orders revised their October data from 1.3% to 1.8%; however, it only rose 0.9% in October (suggesting a slowdown). New Home Sales revised their October data from 999k annualized units to 945k; and it's November data shows a significant drop to 841k. Consumer Sentiment is showing that Consumers are becoming more concerned, as it dropped from it's November reading of 81.4 to 80.7. Stocks are Up this morning on reports out of Europe that a deal has been reached between the UK and the EU. Also, President Trump has strongly worded his displeasure with Congress for allocating a Stimulus Package that send large sums of money to other countries and entities, instead of giving more to the American people. He has said that he won't sign this bill and requests that they send him a bill that will provide to the American people and businesses, not foreign aid. This latter part could further factor into trading; however, trading is light due to the large hedgefund managers already on Holiday break. Meanwhile, MBS is dropping (Down 17bps) and falling below it's 50 DMA now. Mortgage Rates have worsened compared to yesterday's rates. Yields are pushing above it's Technical Ceiling, which could push us toward the 1% threshold; which it's currently sitting at just under 0.97%.
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 please direct message me.
http://MikesDailyMarketReport.com: The Final Q3 GDP rose slightly from it's initial reading from 33.1% to 33.4%. Consumer Confidence digressed a bit in December, as the index dropped from 92.9 (revised lower from 96.1) in November to 88.6. Existing Home Sales dropped from 6.86 million annualized units (revised slightly higher from 6.85 million) in October to 6.69 million in November, as Supply reaches all time lows. Stocks are trading in Negative Territory this morning. Congress (both House and Senate) passed the $900 Billion Stimulus Package and $1.4 Trillion Spending Budget. The Bills will be sent to President Trump to be signed. MBS had a bit of a rough day yesterday; closing well below it's 25 DMA and near it's 50 DM, as pricing worsened . This morning, it's Up 6bps, so Mortgage Rates are comparable to pricing found after yesterday's close; and worse than yesterday morning's pricing. Yields are still hanging around 0.93%.
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 please direct message me.
http://MikesDailyMarketReport.com: There are no economic data to report from the calendar today. Stocks are taking their queue from headlines news; and are currently in the Red, as Investors begin concern over a possible new variant of the coronavirus, which is being labeled as more contagious. These are being reported in Britain and South Africa. On the brighter side is the long-awaited Congressional Agreement on a $900 Billion Stimulus package that is expected to be signed today. MBS started the morning much higher, but has dramatically dropped; currently Down 2bps. Currently, pricing for Mortgage Rates are on par with Friday's close; as it closed just under it's 25 DMA. Yields have climbed a bit since it's open; and is currently sitting around 0.93%.
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 please direct message me.
http://MikesDailyMarketReport.com: The Leading Economic Indicators Index rose 0.6% in November. Stocks are facing a lot of volatility today, as they face a Quadruple-Witching. Also, Congress is still working toward a Stimulus Package, along with a Government Spending Bill, in order to avoid a Government Shutdown. Meanwhile, MBS is currently Down 2bps and sitting just above it's 25 DMA. Yesterday, it worked itself back above the 25 DMA. Yields are still sitting in "No Mans Land" between it's 2 technical levels at just under 0.94%.
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 please direct message me.
http://MikesDailyMarketReport.com: Housing Starts rose in November to 1.547 million annualized units (up from 1.528 million in October). It's counter-part, Building Permits, rose to 1.639 million annualized units in November (up from 1.544 million in October). The Philly Fed Index, which measures manufacturing in the Philadelphia region, dropped significantly, from 26.3 in November to 11.1 in December. Another very disappointing report, was the Initial Jobless Claims, as 885k people applied for first time benefits. However, Stocks are Up this morning, disregarding the Mixed economic data, on increasing likelihood of a Stimulus Package arriving sooner than later. MBS were up initially this morning; however, it dropped on talk of more Stimulus. It's currently in Unchanged level, so Mortgage Rates remain Unchanged; and it still sits below it's 25 DMA. Yields rose, as well on the talk of more Stimulus; and now sit just under 0.94%.
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 please direct message me.
http://MikesDailyMarketReport.com: Retail Sales declined a second continuous month in December, as it declined by 1.1%; as it's November's numbers were revised from +0.3% to -0.1%. Markit Manufacturing PMI dropped from 56.7 in November to 56.5 December; and it's Markit Services PMI dropped from 58.4 to 55.3. The Services Industry took a pretty big hit with the renewed lockdowns, as the Markit report indicates. The NAHB Housing Market Index dropped from 90 in November to 86 in December. This report is a survey by Home Builders, which indicates their confidence in the economy. Lastly, the Business Inventories rose by 0.7% in October. Stocks are trading in Mixed Territory this morning, as the Markets await news of 2 very important events (the FOMC announcement/statement and Congressional Stimulus Package). The Fed will make their announcement at 11am PST. We don't expect really any change; however, we're looking for any possible changes to their Asset Purchase Program. If they abstain, then it could hurt Mortgage Rates (especially, if a Stimulus Package is passed). If they increase it, then it will help to offset the Stimulus Package effect. It's appearing that Congress is nearing a deal on the Stimulus Package, which some are saying that it could pass as early as today. Stay tuned! This could get bumpy for the Markets, especially for Mortgage Rates today! Speaking of Mortgage Rates, MBS are currently Down 8bps. They have fallen below it's 25 DMA and have tested it's 50 DMA, as well. This downturn, has led most Lenders to worsen their pricing from yesterday's pricing. Yields have climbed up (even hitting near 0.96%), but are off it's earlier highs at just under 0.93%.
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 please direct message me.
http://MikesDailyMarketReport.com: The Empire State Index, which measures manufacturing in the NY region, came in at 4.9 on it's December index, after it posted a 6.3 previously. The Capacity Utilization improved from 72.8% in October to 73.3% in November; while Industrial Production had a revision in October from 1.1% to 0.9%. It's November data came in at 0.4% Stocks are Up this morning on increased talk on a new bipartisan stimulus package that will contain provisions from both factions. Als, the FDA will meet this week on the Moderna vaccine, which had a high efficacy rate. MBS are currently Down 5bps, which isn't enough to see any changes with Mortgage Rates so far today. Yields held up on their 25 DMA and are trying to push higher, as to be expected when talking about more stimulus (or government spending). It's currently sitting just under 0.91%.
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 please direct message me.
http://MikesDailyMarketReport.com: There are no economic data today to report. Stocks are Up this morning on news of vaccines beginning to be distributed across the US; and the UK PM and EU President announcing the scrapping of a deadline to work out a deal between the 2 entities. It is being reported that NYC Mayor De Blasio stated that NYC may want to prepare for a Full Shutdown, which is helping MBS this morning. MBS started the morning much lower, but has since went into positive territory (+5bps). The current pricing will lead Lenders whom priced the East Coast to better pricing, which should match what we have seen at Friday's close. Yields started the morning much higher due to talk about new stimulus, but is weakening, as it is sitting between it's 25 DMA and Technical line at just under 0.90%.
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 please direct message me.
http://MikesDailyMarketReport.com: Both the Producer Price Index (PPI) and Core PPI rose 0.1% in November. This index gauges inflation in the Wholesale sector. The Core PPI's YoY rose sharply from 1.1% to 1.4%. Consumer Sentiment rose from 76.9 in November to the initial December data of 81.4. Stocks are Down primarily due to pessimism over a Stimulus package to be completed any time soon and an increased possibility of a "hard" Brexit, as talks between the UK's PM and EU's President appear not effective. FDA advised to move forward with the emergency vaccines by BioNTech and Pfizer. MBS is Up 12bps, so we'll see a bit of improvement with Lenders' Rate sheets. Also, Yields have slid down to 0.88%; and below it's Technical floor and 25 DMA.
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 please direct message me.
http://MikesDailyMarketReport.com: Both the Consumer Price Index (CPI) and Core CPI (excludes food and energy) rose 0.2% in November; however, it's YoY remained unchaged from previous month. The CP remained at 1.2% and Core CPI at 1.6%. Bad News with Jobs, which the Initial Jobless Claims spiked to 853k last week. We saw steady declines each week for the past month; and last week's report was 712k. This could be due to recently renewed Lockdowns around much of the US. Stocks are Mixed this Morning, as the NASDAQ remained the only index in Positive Territory. As we continue to see spikes in the Corona Virus numbers across the US (and the World), we're also seeing Congress sputtering with a compromise to new stimulus packages. The main number we're seeing is around $900 Billion, but they're still working thru some sticking points with each side. Also, the FDA is meeting today to review the risks involved with the BioNTech and Pfizer vaccines before they take a vote on releasing it to the public. They will be having another similar meeting next week for Moderna's vaccine. The ECB announced their plan to increase their pandemic emergency bond purchasing by $500 Billion euros and extend their long-term refinancing. Lastly, the UK PM and EU President have extended their talks thru Sunday, so they can work thru an agreement prior to the December 31st deadline. MBS is Down 2bps so far this morning, after a pretty good test to it's 25 DMA floor. Usually, the bad economic data will help mortgage rates; however, this is one of those situations that the bad data only emphasizes the need for more stimulus, which isn't good for bonds. Mortgage Rates remain Unchanged from yesterday's pricing. Yields are sitting just above 0.93% this morning.
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 please direct message me.
http://MikesDailyMarketReport.com: Wholesale Inventories rose 1.1% in October. Stocks are Down this morning. The big news today that's driving the Markets is the new proposal by Mnuchin and the White House on for new Stimulus, which is $916 billion. This proposal may have a bit more teeth, as it includes some of the components that the Democrats want in the package, along with the other needed components. Also, the FDA will be meeting tomorrow regarding the next steps to authorizing the release of the vaccines to the public. As mentioned yesterday, UK PM Boris Johnson will visit Belgium to meet the EC President in order to hammer out some of the gaps between both parties before the UK exits the EU. The deadline is coming up fast, which is December 31st. A hard exit (no deal) can severely disrupt the Markets. Meanwhile, the MBS started the morning much lower, but since has climbed up to -2bps. Lenders most likely have priced in a little worse with their Mortgage Rates today as a result of the MBS open, as caution. This is a result of Supply/Demand principle, as Treasuries are used to pay for any upcoming Stimulus package (more supply and less demand). So, the Stimulus talk isn't so good for Mortgage Rates. Yields are up this morning to just under 0.95%
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 please direct message me.
http://MikesDailyMarketReport.com: We received the final revision for the Q3 Labor Costs, which rose from -8.9% to -6.6%; and the final revision for Q3 Productivity dropped from 4.9% to 4.6%. However, Stocks are trading in Positive Territory this morning. A 90 year old woman in the UK received the first vaccine in the UK, as they begin vaccinations there. They're still working thru the regulations in the US in order to begin here. As we know, the numbers are still spiking. There's a bit of a divide in the Senate on a new Coronavirus Package, as some want a $908 billion joint bill to be passed; and another faction wants to slim it down to around $500 billion package. MBS is Up 3bps currently, after starting the morning higher, then it dropped (testing the 25 DMA), only to return near it's opening. Yields have come down a little bit, as it sits just under 0.91% now.
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
http://MikesDailyMarketReport.com: There are no economic data to report today, so the Markets are looking at geopolitical events for their Movements today. Stocks are in Mixed Territory, as NASDAQ is currently the only index in Positive Territory, after many of the indexes setting new highs last Friday. Cases for COVID are rising, as are hospitalizations; and calls for more Stimulus are being pushed to Congress to act. Reuters is reporting that the Trump Administration is applying sanctions to a few additional Chinese officials for China's actions with recent Hong Kong events; and Russell index is expecting to drop a few Chinese companies for their role with China's military. BREXIT is coming back into light today, as we approach their newest deadline (December 31st). It's appearing more like a Hard Break, as it appears that both sides are not able to bridge some parts of an agreement. As we get closer to the deadline, this will make bigger waves in the Markets. MBS are Up 13bps this morning after it's Sell off on Friday. Mortgage Rates have a slight improvement from Friday's close. Yields have slid a little bit (down to just under 0.93%).
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
http://MikesDailyMarketReport.com: Today, we receive data from the Bureau of Labor Statistics (BLS). We'll start off with Average Earnings for the month of November, which rose by 0.3%. The "biggie", which is the Non Farm Payrolls had a lower revision for October, which went from 638k to 610k; and November was a huge disappointment at 245k. Average Work Week Hours remained the same at 34.8 hours per week. The Unemployment Rate dropped from 6.9% in October to 6.7% in November. Lastly, the Factory Orders revised their September data from 1.1% to 1.3%; and it's October number rose 1.0%. This is 6 consecutive months of growth in Factory Orders. Stocks are Up today! Normally bad job data would disappoint, but in this case, "bad news is good news". Investors view this as more data to push Congress into more Stimulus to help the economy. As a result, MBS is currently Down 16bps, which Mortgage Rates worsened by about an .125% to the rate today. As we mentioned about more Stimulus, the weakens MBS and Treasuries, as more will be needed in order to pay for the Stimulus -More Supply, but not enough Demand. This is giving Yields more ammo to rise, as it's challenging it's Technical ceiling and sitting just under 0.97%.
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
http://MikesDailyMarketReport.com: The Initial Jobless Claims reported fewer claims last week, which 712k people applied for first time benefits. Last week's report was revised higher, from 778k to 787k. Also, people are leaving the Unemployment, as Continuing Benefits dropped from approximately 6 million to 5.5 million. ISM Non Manufacturing shrunk from 56.6 to 55.9 in November. Stocks are Up this morning, as they review the good jobs data today. MBS is Up 3bps, so there wasn't any movement with Mortgage Rates from yesterday's pricing. Yields have dipped down to 0.92%.
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
http://MikesDailyMarketReport.com: The ADP, which will be the first of 3 jobs data that we'll see this week, had a revision higher to last week's report. It was initially stated that 365k new jobs in the Private Sector were created for October; however, it was revised to 404k. It dipped to 307k in November on forecasts of 410k. Stocks are taking a breather after a very strong November and yesterday's rally. A few headline news includes the UK approving emergency vaccines from Pfizer and BioNTech; Stimulus negotiations hit a snag when Mitch McConnel reiterated his point on a "targeted stimulus" position in lieu of a broader base; and Mnuchin and Powell continue their testimonies to Congress, as they meet before a House Committee today. MBS are Up 5bps this morning after a bit of a rough day yesterday. We closed Down 33bps yesterday, which led Lenders to re-price for the worse. So Mortgage Rates will fall closer to yesterday's pricing after close, or a bit higher than yesterday morning's report. Yields were pushing higher earlier this morning and have shown some weakness. It's sitting just under 0.95%, after pushing upwards around 0.96%.
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
http://MikesDailyMarketReport.com: Construction Spending rose 1.3% in October. The ISM Manufacturing Index, like yesterday's Chicago PMI report, dipped from 59.3 to 57.5 in November. The ISM Manufacturing is considered the "Gold Standard" for the Manufacturing reports. Stocks are Up after a very big November. Congress is restarting Stimulus talks again. Mnuchin and Powell are testifying before Congress. Also, according to a report by Adobe Analytics, Cyber Monday broke another record at $10.8 Billion in online sales yesterday. However, MBS has lost their gains from yesterday, and are currently Down 23bps; so, Mortgage Rates have stepped up a little bit today. Also, Yields are having a big day, as it jumps above it's 25 DMA and the next Technical level. It's currently sitting at 0.92%.
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
