Tuesday, December 22, 2020

Daily Market Report 12/22/20

 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%.

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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 please direct message me.

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