Monday, March 8, 2021

Daily Market Report 3/8/21

 http://MikesDailyMarketReport.com: We only have Wholesale Inventories to report today, which met expectations at 1.3% MoM increase.  Stocks are readjusting themselves, as Yields continue to rise.  NASDAQ remains lone index in Red, as investment dollars move from Tech to Financials and Energy.  The $1.9 Trillion Stimulus package passed the Senate over the weekend, so it goes back to the House.  They're pushing to wrap up before the lapse of Unemployment Benefits that end on March 14th; and hoping to start sending out Stimulus checks by the 22nd.  As previously mentioned, Yields are now at 1.60%; which we're waiting to see if it has topped out or is there more to climb?  Meanwhile, MBS is Down 9bps from Friday's close.  Not enough to change pricing from Friday's close; but we have seen a lot of volatility in the Markets; and it could have greater swings.

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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.



Friday, March 5, 2021

Daily Market Report 3/5/21

 http://MikesDailyMarketReport.com: Today is the big day, which the Bureau of Labor Statistics (BLS) provides their Jobs data.  Without further adieu, the Non-Farm Payrolls not only hit 379k (beating estimates of 182k) for the month of February, but it revised it's January from 49k to 166k.  Meanwhile, the Unemployment Rate dropped by 0.1% to 6.2%.  Average Work Week hours were trimmed a bit, from 34.9 hours to 34.6 hours per week.  Average Earnings rose by 0.2%, which matched most estimates.  Stocks were initially in the Red for most of the morning, but trades have subsided a bit since the early trades to moving into Mixed Territory (NASDAQ being lone index in Red).  Investors are moving investments out of over-valued stocks (like Tech) to under-valued stocks (like Financials and Energy) due to concerns over Inflation and Higher Yields.  Speaking of Yields, they touched at 1.62% earlier, but have calmed down to 1.56% currently.  This had a big sell on MBS earlier on, but has come back a bit; and is currently Up 6bps.  Yesterday, we had a big selloff day (closed Down 50bps), as Investors weren't agreeing with Fed Chair Powell's answers to WSJ's Q&A.  The Market wanted to hear about the Fed's approach to inflation down the road, but the Fed has stated that any spike in inflation will be temporary due to the bottleneck in supply chain; and will subside thereafter.  His comments were very dovish, which isn't what investors had in mind.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, March 4, 2021

Daily Market Report 3/4/21

 http://MikesDailyMarketReport.com:  We have a lot of data to go over today; and tomorrow is the big jobs data from the Bureau of Labor Statistics.  Without further adieu, let's start with the final revision of Labor Costs for Q4, which dropped from last month's 6.8% to 6.0%.  This is good news for inflation!  Also, Productivity for Q4 was better than last month's -4.8% to the final number of -4.2% (improvement by 0.6%).  The Initial Jobless Claims rose from 730k (last week's number) to 745k this week.  Durable Goods rose by 3.4% in January (unchanged from previous month); however, when you exclude Transportation, then it rose only 1.3% (down from it's 1.4% in December).  Factory Orders continue to impress, as they rose 2.6% in January.  Manufacturing and Factory work are the bulk of the economy at this time (even though, normally, the service industry provides the bulk of the jobs).  Powells speech today is having a major impact with the Markets.  The Fed Chair is not providing them with what they want, which is to extend "Twist".  This is a way for the Fed to buy long-term debt and sell short-term debt, which allows for more liquidity in the short-term.  The Fed has indicated that any current inflation is transitory due to the pandemic's effect on supply-chain; and economy show signs of improvement.  Like the Stock Market, the Bond Market, or MBS, had started to selloff during Powell's Q&A.  It has subsided some, but it's currently still down 9bps.  Many Lenders had already started their reprices for the worse, so Mortgage Rates are a bit worse than yesterday's.  Yields are skyrocketing again; and are just under 1.55% now.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, March 3, 2021

Daily Market Report 3/3/21

 http://MikesDailyMarketReport.com: The ADP reported only 117k new jobs for February, which was disappointing, as forecasts were looking for 177k.   The ISM Non-Manufacturing PMI dipped from 58.7 in January to 55.3 in February; which means that the Services Industry pulled back a little bit in February.  Stocks are in Mixed Territory, as the DOW remained the lone index in Positive Territory (currently).  Europe received some good economic data earlier today, which started a selloff of Bonds/Treasuries there and continued here in the US, as Yields are topping near 1.48%.  Investors are hopeful about Biden's announcement to accelerate the vaccinations and trying to get back to some normalcy.  As mentioned previous, there's a bit of a selloff on MBS today, as they are currently Down 28bps; so, Mortgage Rates worsened (this is mostly about an 0.125% difference in the rate).

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, March 2, 2021

Daily Market Report 3/2/21

 http://MikesDailyMarketReport.com: No economic data to report today.  Stocks are in Mixed Territory, as the DOW represents the lone index in Positive Territory.  We have a few Fed speakers today, which investors will definitely watch Lael Brainerd, as she almost disregarded the concerns of last week (high yields and inflation).  They'll wait to see what she has to say this week.  MBS closed Up 14bps yesterday, and many Lenders repriced for the better yesterday.  This morning, it's currently Up 2bps; so Mortgage Rates remain Unchanged from yesterday's close.  Yields almost appear to be heading in a sideways pattern, as it's currently sitting around 1.42%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Monday, March 1, 2021

Daily Market Report 3/1/21

 http://MikesDailyMarketReport.com:  ISM Manufacturing Index jumped, and matching a 2 year high, to 60.8 in February.  Also, Construction Spending rose by 1.7% in January.  Stocks took off this morning, as Yields seem to have calmed down a bit today and good economic data.  Mortgage Rates are Up a little bit, as the MBS opened about 17bps lower than Friday's close; and is currently Down about 13bps.  There's some volatility still, as it has a low of 24bps and it was up 17bps.  Yields are currently sitting at 1.44% (after it hit 1.61% last week).

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, February 26, 2021

Daily Market Report 2/26/21

 http://MikesDailyMarketReport.com:  The Personal Income jumped up to 10.0% in January and the Consumer jumped up 2.4%.  Meanwhile, Inflation still shows some tameness, as the Personal Consumption Expenditure (PCE) rose 0.3% in January, while it's YoY bumped up from 1.3% to 1.5%.  However, the Core PCE (excludes food and energy), which carries more weight because it's the Fed's favorite gauge for inflation, remained Unchanged at 1.5% YoY after it (too) rose 0.3% in January.  The Fed's target rate is typically 2.0% for this index; however, it indicated that it's willing to expand it to 2.5% average over time.  The Chicago PMI, which measures manufacturing in the Chicago region, dipped from 63.8 to 59.5 in February.  Lastly, the Consumer Sentiment dropped from 79.0 in January to 76.8 in February (it did improve throughout the month, as it's initial reading in February was 76.2).  Stocks are currently in Mixed Territory, as the DOW remained the lone index in Negative Territory.  The big spike in Yields is the culprit behind the Market volatility this week.  One thing about Yields is that it provides a perception of Inflation, as an increase in rates is used to slow things down to stave off inflation.  Investors were concerned that the Fed would raise the Fed Fund Rate sooner, as well as pull back on their Asset Purchases.  But Fed Chair Powell had temporarily eased those concerns during his 2 day Congressional Testimony.  However, Investors began to disregard those sentiments, as the Markets became choppy again.  While stocks enjoyed the low interest rate environment, now investors are reevaluating their stock positions that are most affected by rising rates, which the Tech Sector has been hit the hardest thus far.  The higher Yields may bring more investors back to the table for Treasuries/Bond related investments.  MBS went thru a wild rollercoaster ride yesterday, as it closed Down 94bps, which is approximately 1 point (so a No Point loan would now cost 1 point, or 1% of the loan balance).  It's still very choppy, as you may see the wicks in the candlestick chart, but it's currently Up 2bps.  Mortgage Rates are about the same after yesterday's close; however, way off from yesterday morning, as most Lenders had multiple price changes to their rate sheets yesterday (for the worse).  Yields are also really choppy, as it's currently just  under 1.52%, but it's been going back-and-forth at 1.47% range.  Hopefully, today's PCE data helped to ease some concerns over inflation.  We'll see!

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, February 25, 2021

Daily Market Report 2/25/21

 http://MikesDailyMarketReport.com: Last week's Initial Jobless Claims report was revised lower, from 861k to 841k; and this week's report vastly improved to 730k.  December's Durable Goods Orders was revised higher, from 0.5% to 1.2%; and January's came in at 3.4% (hotter than it's 1.1% forecast).  When you remove "big ticket" items like military aircraft from the data (due to large numbers having such a big influence on the data), then we have the Core CapEx.  It's numbers for December was improved from 0.7% to 1.5%; and it's January's data came in at 0.5%.  The 2nd look at the Q4 GDP for 2020 came in a little higher than it's initial report of 4.0%, to 4.1% in February.  We'll receive the final revision next month (March).  Pending Home was revised higher for December (going from being down 0.3% to being up 0.5%), which led to a higher drop for January, as it dropped 2.8%.  Stocks are facing a big selloff today, after calming down the past few days on dovish comments from Fed Chair Powell.  However, Yields are spiking higher today, reinforcing concerns for Investors; along, with comments by Fed Member Esther George, whom stated that inflation could rise once more people are vaccinated.  Stocks aren't the only ones selling off!  MBS was down 63bps when I started this report; however, it worsened (down about 76bps currently) after a very poor 7 year Note Auction.  Mortgage Rates have spiked on these Market jumps!  Yields have touched on a psychological level (of 1.50%), as it hit the 1.52% level.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, February 24, 2021

Daily Market Report 2/24/21

 http://MikesDailyMarketReport.com: New Home Sales spiked to 923k seasonally adjusted units for January.  Stocks are back into Positive Territory after more dovish comments by Fed Chair Powell during his testimony to the House Committee today.  They started in the Red, then reversed into positive territory mid-day.  Also, other Fed Members are out speaking today, which their message seems to put Investors concerns to bed.  Johnson & Johnson had some good news from the FDA regarding their vaccinations, which they were approved to move forward; and soon (most likely) to be out to the Market.  MBS has had a rollercoaster type of day, thus far!  They started down nearly 50bps, then Up approximately 20bps (70bps swing); and now it's Down about 8bps.  Lenders initially came out with worse pricing early on, then re-priced for the better after the Market improvement.  Mortgage Rates should be similar to what we saw after yesterday's close (which improved during the day, to close +11bps).  Yields have jumped up to 1.38% after touching just over 1.43% earlier on.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, February 23, 2021

Daily Market Report 2/23/21

 http://MikesDailyMarketReport.com:  We have 2 HPI (Home Price Indexes) released today for the month of December.  The Case Shiller Index rose by 10.1% YoY; and the FHFA HPI rose by 11.4%.  These are the highest numbers since 2014.  Also, Consumer Confidence rose to 91.3 in February.  Stocks are Down today!  Fed Chair Powell provided his semi-annual testimony before a Senate Committee.  He aimed to ease concerns of hyper inflation and warned of long road to economic recovery.  Markets are still settling afterwards.  Meanwhile, MBS has come off it's lows for the morning (after starting the morning higher) and are currently sitting Down 13bps.  This is enough for Lenders to come out with worse pricing on their Rate sheets.  Yields are still sitting at 1.36%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Monday, February 22, 2021

Daily Market Report 2/22/21

 http://MikesDailyMarketReport.com: Leading Indicators reported improvement of 0.5 for the month of January.  Stocks are a bit mixed this morning on the concern of higher Yields.  Stock valuations are coming into question, as the higher borrowering costs represents lower profits for Investors.  Inflation is also a concern, as the Fed may turn hawkish and raise rates and/or pull back on their Asset Purchases.  Meanwhile, MBS is still looking for any type of footing, as it continues it's decline (Down 36bps so far).  This has led Lenders to price in worse pricing for Mortgage Rates from last Friday.  At some point, we should be reaching a floor, which we can expect some sort of bounce back, but it is uncertain when we will hit that floor.  Yields are rising and have hit just under 1.36%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, February 19, 2021

Daily Market Report 2/19/21

 http://MikesDailyMarketReport.com: The Markit Manufacturing PMI dipped slightly in February, as it went from 59.2 in January to 58.5 in February; also, the Markit Services PMI improved in February, going from 58.3 in January to 58.9 in February.  Investors liked the data for both the Manufacturing and Services Sectors and prospects of an improving economy.  Existing Home Sales jumped up 0.6% in January, as they moved from (a lower revision in December) 6.65 million annualized units to 6.69 million.  However, that December revision was lowered from 6.76 annualized units.  Stocks are up on the Markit data posted today, along with the (already priced in) geopolitical aspects of more Government Stimulus, lower weekly average cases and rollout of vaccinations.  However, MBS is taking another BIG hit this morning (similar to Monday), as it keeps sliding and Lenders keep re-pricing rates for the worse.  It's currently Down 38bps.  Yields have been climbing higher and trying to break above another Technical Level.  It's sitting just a hair under 1.35% now.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, February 18, 2021

Daily Market Report 2/18/21

 http://MikesDailyMarketReport.com: Housing Starts pulled back in January, as December's data was revised higher to 1.68 million annualized units; and it dipped to 1.58 million in January.  However, Building Permits jumped up, from 1.704 million in December to 1.881 in January.  This is future Housing Starts.  Manufacturing in the Philadelphia area dipped a bit in February, as the Philly Fed Index dropped from 26.5 in January to 23.1 in February.  Jobless Claims took a few steps back in progress, as last week's report was revised higher to 848k (from 793k); and this week's report ccame in at 861k (about 100k higher than forecasts).  Stocks are Down again today.  Investors are running out of any catalysts to push stock prices higher (as most of the geopolitical events are already priced into the Markets); but Yields have been rising, and is a concern for higher costs (inflationary) for consumers and businesses.  MBS is currently Down 6bps, but were down much more early on.  Most Lenders priced in their Mortgage Rates with worse pricing (similar to Tuesday's pricing), as most of yesterday's gains were lost when they released their ratesheets.  Yields are currently sitting just under 1.29%, as they touched the 1.30% range earlier on.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, February 17, 2021

Daily Market Report 2/17/21

 http://MikesDailyMarketReport.com: Retail Sales spiked to 5.3% in January, after a 1.0% decline in December.  Inflation for the Wholesale Sector spiked in January too, as the Producer Price Index indicated a 1.3% increase in MoM report in January; and it's Core PPI jumped Up 1.2%, bringing it's YoY Up from 1.2% to 2.0% in January.  This could be a result of pent up demand, as December saw a spike in cases and many states renewed more lockdowns.  Meanwhile, Industrial Productions rose by 0.9% in January.  The NAHB Home Builders Index, which measures Home Builders confidence, slightly rose in February, as it stepped up from 83 to 84.  Lastly, the Business Inventories increased by 0.6% in December.  Stocks are in Negative Territory, as Yields spike to 1.30%.  Investors are digesting the ramifications of higher inflation data.  As such, MBS had a big selloff yesterday (closing Down 70bps); but has regained a small portion of that, as it's currently Up 13bps.  It's a slight improvement from it's close yesterday, but still well off from yesterday's open.  Yields have subsided some this morning; and are now down to just under 1.28%.  Investors are viewing these spikes as too much, too fast; and the Markets are digesting the information and re-evaluating their positions.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, February 16, 2021

Daily Market Report 2/16/21

 http://MikesDailyMarketReport.com:  Manufacturing in the NY region picked up in February, as the Empire State Index rose to 12.1.  Stocks are Mixed, as Investors begin to review their footing with upcoming Recovery period.  Lots of talk around Stimulus to raising Minimum wages to $15/hr to rollout of vaccinations and the lower case numbers.  A lot of this leads to Inflation, so Investors are concerned of the values in stocks, as well as, the possibility of the Fed raising rates and/or cutting their Asset purchases (possibly downsize their portfolio).  There is a big selloff with MBS, which it's Down about 49bps, so about 0.5 a point in fees difference from Friday's close.  Yields have spiked up to 1.29% now.  Needless to say, there was a bit of a spike in Mortgage Rates today.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, February 12, 2021

Daily Market Report 2/12/21

 http://MikesDailyMarketReport.com: The Consumer Sentiment dropped to 76.2 in February, especially with the lower-income folks, according to the UofM Survey.  Stocks are trading in Mixed Territory, as the DOW remains to be the only index in Negative Territory.  We're heading into a 3 day weekend, so Investors are positioning themselves.  Also, they're watching on the progress of the $1.9 Trillion Stimulus, as they're expecting the full amounts to be approved.  There could be a correction, if it doesn't come thru.  Also, they're keeping an eye on the vaccinations, so it will be key for more reopenings in the economy.  Meanwhile, MBS is Down 11bps (was worse earlier on), which will lead Lenders to price Mortgage Rates a bit worse than yesterday's pricing (when I state worse, then it's more like an .125% difference in the rate).  Yields are gaining steam and approaching 11 month highs, as it's sitting around the 1.19%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, February 11, 2021

Daily Market Report 2/11/21

 http://MikesDailyMarketReport.com: The Weekly Initial Jobless Claims had a revision higher from last week's report, going from 779k to 812k.  This week's report came in higher than forecasts, but lower than last week's revision, at 793k.  Stocks are in Negative Territory this morning, as Investors review Corporate Earnings; Jobs data; and yesterday's inflation data.  The inflation data helped stocks yesterday, as it provided data that inflation is not an immediate threat.  They're mostly hedging against the $1.9 Trillion Stimulus Package, as it is appearing to remain intact to passage.  MBS lost it's positive momentum yesterday, as it closed -2bps; and today, it's currently Down 2bps.  Depending when Lenders came out with their Ratesheets yesterday, could determine if they priced worse in today's Ratesheets.  So, Mortgage Rates will be between Unchanged and slightly worse than yesterday's Rates.  Yields have subsided a bit, and sitting just under 1.15%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, February 10, 2021

Daily Market Report 2/10/21

 http://MikesDailyMarketReport.com: The CPI, or Consumer Price Index, rose 0.3% in January; however, the more closely watched Core CPI dropped from 1.6% to 1.4% YoY.  The Fed would like to get this up closer to the 2.5% range they discussed earlier last year.  Lastly, the Wholesale Inventories rose by 0.3% in December, which may bode well heading into the New Year.  Stocks are pulling back a bit today, as previously, the indices were reaching daily new highs.  Now, it appears to be cooling for a bit.  MBS had a rollover, so the placement on the Chart doesn't reflect the true picture of where Mortgage Rates stand.  They're currently Up 6 bps, off from earlier highs.  Mortgage Rates will tend to look more like they did yesterday (Unchanged).  Yields have slid down, to just under 1.14%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, February 9, 2021

Daily Market Report 2/9/21

 http://MikesDailyMarketReport.com: The NFIB Small Business Index, which measures the confidence level for Small Businesses whom make up the bulk of the US employment, came in lower for January; dropping from 95.9 in December to 95.0 in January.  Stocks are trading in Mixed Territory, as they take a bit of a breather today after posting new highs.  They've been pushed higher on progress being made with the new Stimulus Package that appears to be approaching the $1.9 Trillion that was being proposed.  MBS is rebounding a bit on the Stocks slight reversal.  They're currently Up 11bps, so there will be a slightly better pricing by Lenders on Mortgage Rates today.  Yields have slid some, to 1.14%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Monday, February 8, 2021

Daily Market Report 2/8/21

 http://MikesDailyMarketReport.com: This week is light on economic data; and today, there are none to report.  Stocks are Up again today, as last week's Jobs Report was very disappointing (obviously, bad news); however, Investors are viewing this type of Bad News, as Good News (in terms of the need for Government Stimulus).  The Stimulus Package, even though it will most likely be revised a bit, is gaining traction in Congress; and about ready for Senate approval.  MBS started the morning lower, but has regained it's losses; and currently sitting at Unchanged levels from Friday's close.  Mortgage Rates are Unchanged, as well.  Yields are skyrocketing, as it's trying to blast it's way thru 2 Technical Ceilings.  It's currently sitting around 1.16% range.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, February 5, 2021

Daily Market Report 2/5/21

 http://MikesDailyMarketReport.com:  Today is the day for our BIG Jobs data from the Bureau of Labor Statistics.  The Average Earnings rose by 0.2% in January, as the Average Work Week rose from 34.7 hours in December to 35.0 hours in January.  However, the Non-Farm Payrolls had a HUGE revision to it's December's numbers (going from -140k to -227k) and the January's data (pretty much) hit it's forecast with 49k.  Meanwhile, the Unemployment Rate dropped from 6.7% to 6.3% in January.  As we're not seeing many new jobs being created in January, according to BLS, but we've been seeing a drop in the continuing Claims every Thursday; so, where are they going?  Perhaps, sitting on the sidelines(?).  Stocks are Up on the data, as it indicates more need for the $1.9 Trillion Stimulus Package with Congress (it's being reported to have been passed in Congress 51-50).  J&J will be meeting with the FDA late February regarding their Vaccines, which they believe they can rollout approximately 100 million doses in first half of 2021.  MBS started lower this morning, but has rebounded some to being Down by 2bps from yesterday's close.  Mortgage Rates should be relatively in line, or similar pricing from what we've been seeing the past 3 days.  This might set up a big move soon!  Let's wait and see!  Yields started higher and tried passing another Technical Level at 1.1985, but has lost it and has slid lower, below it's Technical Floor at 1.1557; sitting just at 1.1550.  We'll need to watch this for signs of possibly more pressure on MBS (adding to higher Mortgage Rates).

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, February 4, 2021

Daily Market Report 2/4/21

 http://MikesDailyMarketReport.com: The Initial Jobless Claims improved this week, as it reported only 779k people applying for first time benefits; and last week's report was revised lower by 35k.  We're also seeing a decline in the continuing claims, which is good news, as more people are going back into the workforce.  Labor Costs jumped 6.8% in the initial Q4 Labor Cost Index; and the Q4 Productivity Index dropped 4.8%.  However, Factory Orders rose by 1.1 million in December (beating estimates of 700k).  Stocks are Up on the recent Jobs data this week, which we have the (big data) Bureau of Labor Statistics reports coming tomorrow.  Also, many of the companies reporting the Q4 Corporate Earnings reports are coming in better than expected.  Investors are feeling a bit better this week, even though they're keeping one eye on the COVID data and it's impact on the economy.  MBS is currently Down 5bps.  It closed Down 20bps yesterday.  Many Lenders didn't reprice for the worse yesterday, so they'll show the worse pricing in today's ratesheets.  Those whom did reprice yesterday, will most likely have similar pricing as their close.  Yields tested their next Technical ceiling earlier this morning, but have since pulled back.  We could see a potential pull back in Yields very soon, which will help out MBS.  Yields are currently at 1.14%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, February 3, 2021

Daily Market Report 2/3/21

 http://MikesDailyMarketReport.com:  We will be seeing a lot of Jobs data this week, which today is the first of the data, provided by ADP, which tracks the Private Payrolls.  They reported 174k new jobs in January, which blew out the forecasts of 49k.  Also, they revised their December data with an improvement from -123k to -78k.  We also received a report from the ISM Non-Manufacturing PMI, which measures the Services Industry (important because it represents 70% of the US workforce).  It jumped upward from 57.7 in December to 58.7 in January.  Both reports were hotter than expectations, along with some better than expectations on Q4 Corporate Earnings (especially from Amazon), which is leading a rally in the Stock Market today (also this week).  Meanwhile, MBS has been slumping as a result, and is currently Down about 9bps.  Most Lenders will price Mortgage Rates similar to what we saw yesterday.  Yields are testing their Technical Ceiling, which is currently sitting at 1.13% (technical ceiling is at 1.125%).  This will be important to watch, as it could push Mortgage Rates higher, if it remains above this level.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, January 29, 2021

Daily Market Report 1/29/21

 http://MikesDailyMarketReport.com: Consumer Spending dropped 0.2% in December.  The Core PCE rose YoY to 1.5% in December.  This index is what the Fed uses to gauge their inflationary data and want a target range of approximately 2.0%.  Employment Costs rose 0.7% in Q4, which is another inflationary component to watch.  Manufacturing in the Chicago region skyrocketed in January, as the Chicago PMI rose to 63.8.  Pending Home Sales dropped again in December by 0.3% MoM.  Consumer Sentiment decreased slightly in January from 79.2 to 79.0, according to the UM survey.  Stocks are Down today, as Investors are beginning to realize the rollout of the vaccines are going to take awhile and there is some questions about it's efficacy, especially with newer virus strains.  Another big headline is the continued saga between Main Street and Wall Street, as Wall Street are pulling out all stops.  They're using distraction as mechanism; media outlets; and Brokerages to help prevent their onslaught with their Short holdings, which is costing them in the Billions $$$.  Very interesting to watch from the sidelines!  Meanwhile, MBS has continued it's slide downward (currently Down 8bps).  We're off from earlier lows, so maybe we've hit some sort of floor (wait and see).  Mortgage Rates worsened some after yesterday's trading.  Yields skyrocketed up to 1.08% now.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, January 28, 2021

Daily Market Report 1/28/21

 http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped this week to 847k people applying for first time unemployment benefits from last weeks revised number of 914k.  Also, it's reported that continuing claims have decreased to less than 5 million now.  That's good news, as more people are going back to work!  The Q4 GDP came in at 4.0%, which was lower than what many had hoped; and let's investors know that the recovery will be long.  New Home Sales came in at 842k for seasonally adjusted units for the month of December; lower than the 865k forecast.  The Leading Indicators Index rose only 0.3% in December.  Stocks are Up this morning.  Some of the regulators are implementing measures to protect the Hedgfunds that have been severely impacted by the group of individual investors whom have targeted their short positions.  More Q4 Corporate Earnings Reports are being released and Investors reviewing their data.  However, MBS has slid from it's highs yesterday and closed lower; only to continue it's decline this morning.  Most Lenders didn't reprice for the worse yesterday, so they'll most likely price it into today's ratesheets (pricing for Mortgage Rates will be slightly worse).  They should be similar pricing found on Tuesday's.  Yields shot up to 1.05%, after touching 1.0% yesterday.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, January 27, 2021

Daily Market Report 1/27/21

 http://MikesDailyMarketReport.com:  The Durable Goods Orders disappointed in December, as it only increased by 0.2% on forecasts of 0.9%.  Today, the Fed wrapped up it's 2 day meeting (FOMC) and pretty much kept the language intact; including their commitment of purchasing assets (Treausuries and MBS).  Stocks are Down this morning, as more and more unusual trading is coming into play, which appears to be individual investors waging war with the big Hedgefund companies.  The biggest play has been with Game Stop, as a few large Hedgefund companies lost millions with their short positions, as the individual investors keep driving up the prices.  Meanwhile, MBS is currently Up 13bps and broke above several layers (100-, 25- and 50 DMA).  Lenders will come out with better pricing for Mortgage Rates today.  Yields are sliding down again, as they hit 1.01%.  Will they go below 1.0% again?  Time will tell!

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, January 26, 2021

Daily Market Report 1/26/21

 http://MikesDailyMarketReport.com: Today, we have a few Home Price Indexes gauging Home Appreciation on a Year over Year basis.  The Case Shiller HPI rose from 8.0% in October to 9.1% in November; and the FHFA HPI rose from 10.3% in October to 11.0% in November.  Also, Consumer Confidence rose from 87.1 in December to 89.3 in January.  Stocks are lightly trading, while the 3 indexes tip toe back and forth in Positive and Negative Territory; so, they're currently in Mixed Territory.  Today, they're reviewing Q4 Corporate Earnings Reports and watching for any news of more Stimulus, which some reports are coming out that Schumer is pushing for it in March.  Today begins the first of two days for the Fed to meet at the FOMC.  We don't anticipate any changes, but there has been talk about modifying the asset purchases, so investors will be eyeing for any word changes in their statement tomorrow.  MBS is currently Up 5bps after it closed a bit off it's high yesterday (closed Up 6bps, while it reached Up 17bps).  Mortgage Rates (for the most part) appear to be Unchanged from yesterday's pricing.  Yields are now sitting at 1.04%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Monday, January 25, 2021

Daily Market Report 1/25/21

 http://MikesDailyMarketReport.com:  We don't have any economic data to report today; and Stocks are in the Red this morning.  Investors are watching for Q4 Earnings Reports being released this week, which we have a few large cap companies reporting (this week).  Also, Investors will be watching for any signs on the additional Stimulus that were promised during the elections.  Meanwhile, MBS is benefitting from Stocks downside this morning, as they rise above it's 100- and 50 DMA (currently Up 17bps).  Mortgage Rates show improvement today.  Also, Yields have broken lower (below it's dual floor of support and approaching it's 25 DMA).  It currently sits at 1.04%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, January 22, 2021

Daily Market Report 1/22/21

 http://MikesDailyMarketReport.com: The Markit Services Services PMI indicated growth in Januayr, as it rose from 54.8 in December to 57.5 in January; and it's counter-part, Markit Manufacturing PMI rose from 57.1 in December to 59.1 in January.  Anything above 50 in these indices indicates expansion.  Lastly, the Existing Home Sales rose from an seasonally adjusted 6.69 million units to 6.71 million in November and rose to 6.76 million in December.  Overall, very good numbers!  However, the Stock Market is Down today, as Investors can't justify more expansion when the coronavirus is still negatively affecting the Global Markets (more new cases; more lockdowns in Europe & Asia; comments by Dr Fauci indicating the vaccinnes in Market may not be effective to certain strains of the virus; etc...).  This is souring the mood for investors whom are pulling for a recovery.  Meanhwhile, the Q4 Corporate Earnings are still being released and having some impact; but the greater impact is the news on coronavirus and uncertainty of more Stimulus.  MBS is recovering some of it's late losses yesterday.  Yesterday, it closed down 6bps; and currently, it's Up 6bps.  It hasn't been enough movement for any changes with Mortgage Rates, which remain Unchanged.  Yields are still ranging between the 1.09% and 1.10% levels.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, January 21, 2021

Daily Market Report 1/21/21

 http://MikesDailyMarketReport.com: After yesterday's disappointing news on Home Builders Confidence, we receive good news on Housing Starts for December, as they jumped from a revised November number of 1.578 million seasonally adjusted data to 1.669 million for December; and Building Permits (future Housing Starts) also jumped up (from 1.635 million in November to 1.709 million in December).  Manufacturing spiked in Philadelphia area this month, as the Philly Fed Index rose from 9.1 in December to 26.5 in January.  Lastly, Initial Jobless Claims dropped last week to 900k people applying for first time unemployment benefits.  It's a tepid number, as we saw this number down in the 700k range before it rose again.  Stocks started the morning in Positive Territory; however, now we're seeing the DOW and S&P in Negative Territory.  We have more Q4 Earnings Reports being released today.  Biden is signing Executive Orders on his first full day today.  However, Investors are watching closely for another Stimulus Package.  Finally, the ECB made a statement today that they'll keep their rates unchanged; however, there was a part of the speech that indicated they may alter their asset purchasing in their PEPP program.  This had initially inadvertently affected our MBS Market here; however, it appears to be rebounding a bit now, as it's Up 5bps from yesterday's close.  Yesterday, we closed Up 16bps.  If Lenders didn't re-price for the better yesterday, then you should find that improvement in today's pricing (improvement in Mortgage Rates).  Yields continue their sideways movement; and hover between 1.09% - 1.10%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, January 20, 2021

Daily Market Report 1/20/21

 http://MikesDailyMarketReport.com: The NAHB Home Builders Index dropped from 86 to 83 in January.  This index shows the Confidence level for Home Builders.  Stocks are Up this morning, as we receive some of the Q4 Corporate Earnings Reports.  The Geopolitical news have been more of an impact with the Markets, especially the Stimulus Package.  Today is also the Inauguration Day, but isn't having much impact on the Markets.  Biden has already reversed a few policies that were implemented under previous administration.  MBS is Up 3bps. Mortgage Rates have been moving sides ways this week, thus far; so they have remained Unchanged.  Yields have been keeping within the 1.09% to 1.10% range; currently sitting at 1.09%.  We could potentially see these come to a head this week, pending any outcome of a Stimulus package.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, January 19, 2021

Daily Market Report 1/19/21

 http://MikesDailyMarketReport.com: There are no economic data to report today.  Today is pretty quiet in the Markets.  Stocks are Up this morning.  Janet Yellen, whom will become the new Treasury Secretary, will be speaking before Senate today to encourage them in supporting a larger Stimulus Package.  Tomorrow will be the inauguration.  MBS has little changed from last Friday (down just 3bps), so pricing for Mortgage Rates remain unchanged from Friday's close.  Yields are trending sideways, between 1.09% and 1.10%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, January 15, 2021

Daily Market Report 1/15/21

 http://MikesDailyMarketReport.com:   We have a number of items on the Economic Calendar today, which we'll start with the Producer Price Index for the month of January.  The PPI rose 0.3% in January; whereas it's Core PPI (excludes food and energy)  rose 0.1% and it's YoY dropped from 1.4% to 1.2%.  The PPI is inflation data for the Wholesale sector, so it doesn't have as much impact as the CPI or PCE.  Retail Sales disappoint again, as it dropped 0.7% in December; and when you exclude Autos, it dropped 1.4%.  Manufacturing continues to slow down in the NY region, as the Empire State Index reports that it went from 4.9 in December to 3.5 in January (anything above 0 is expansion; and below is contraction).  Capacity Utilization grew to 74.5% in December; and Industrial Production rose by 1.6%.  However, Consumers weren't feeling it in January, as the Consumer Sentiment dropped from 80.7 in December to 79.2 in January.  Also, Business Inventories rose only 0.5% in November.  Stocks are Down this morning on the poor data with Retail Sales, Empire State Index and Consumer Sentiment.  The announcement of the $1.9 Trillion Stimulus package was announced yesterday, but there are concerns that it still may not pass with some of the more moderate Democrats, as they may feel it's too big.  Also, the slow rollout of the vaccinations is weighing on Investors, as Pfizer announced they will rolling out less this year to Europe.  MBS is Improving today, as it's Up 22bps this morning.  However, yesterday, we had a late pullback and closed Down about 16bps (so most Lenders repriced for the worse).  Mortgage Rates are about what we found yesterday morning and Wednesday's close (Unchanged); and improved from yesterday's close.  Yields have been trending (for the most part) between 1.09% and 1.10%.  It's currently sitting just a hair under 1.09%, on the Technical floor.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, January 14, 2021

Daily Market Report 1/14/21

 http://MikesDailyMarketReport.com: Initial Jobless Claims saw a very large spike in this week's report for people applying for first time benefits.  It jumped up to 965k.  Even the Continuing Claims rose by 200k+, as this was decreasing each week.  Obviously, this is mostly due to renewed Lockdowns.  However, Stocks are embracing the bad data and trading in Positive Territory this morning, as this may represent a bigger Stimulus Package (3.0).  There was initial talk of a $1.3 Trillion package, but reports are coming out that it may be closer to $2.0 Trillion.  There may be some pushback (even) within the Democratic Party of going too big, so we'll need to watch.  Meanwhile, MBS are Down 3bps, after having a successful day yesterday (closing Up about 33bps).  Most Lenders improved their pricing yesterday, so Mortgage Rates today should be Unchanged from those levels, or possibly a little better today (depending how much improvement the Lender priced in yesterday).  Yields are relatively Unchanged from yesterday's close, as it sits around 1.09%.  Keep an eye out on the Stimulus Package, as the size of it may push Yields higher again (thus hurting Mortgage Rates).

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, January 13, 2021

Daily Market Report 1/13/21

 http://MikesDailyMarketReport.com:  Today, we have consumer inflation report by Consumer Price Index (CPI).  The MoM data for December rose 0.4% and it's YoY rose from 1.2% to 1.4%.  However, it's Core CPI (excludes volatility from food and energy; and holds more weight in impact to Markets) rose only 0.1% in December and it's YoY remained Unchanged at 1.6%.  Stocks liked the inflation data and shows a lot of volatility in the Markets with current Political dramas, as the House is working on a second Impeachment process for President Trump; meanwhile, putting aside other matters, like the larger Stimulus checks they proposed prior to the elections.  Stocks are Up, after reversing the early selloff yesterday.  MBS is currently Up 19bps, but it's showing some more improvement (after I started this report) when the 30 year Bond Auction reported a positive day (MBS moving Up to 28bps).  Tomorrow will be important day to determine, if we've finally found some footing and recover some of the losses from last week.  But today, atleast, Mortgage Rates improved.  Yields have come off their highs; and hopefully found their ceiling.  They've come down to just under 1.10% currently.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, January 12, 2021

Daily Market Report 1/12/21

 http://MikesDailyMarketReport.com:  We don't have any economic data to report today; however, there will be a 10 year Treasury Auction, which can impact the Markets especially; as Yields have been rising dramatically since last week amidst the big Selloff with no end yet in sight!  Stocks are Down this morning on much of the same concerns as yesterday.  Meanwhile, MBS continues it's heavy Selloff!  It's off from it's earlier lows, but still Down 17bps.  Lenders are already pricing Mortgage Rates higher.  We're down approximately 1.5 points (or 150bps), which translates that No Point Loan last week will now cost you approximately 1.5 % of the loan amount to obtain the same rate.  Yields continue their meteoric rise with no Technical levels slowing them down.  They're now up just under 1.18%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Monday, January 11, 2021

Daily Market Report 1/11/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today.  Stocks are Down today after last week's Rally Mode.  After last week's Protests, Investors are a bit concerned that Congress will put the extra stimulus on hold in lieu of President Trump's Impeachment hearing, which  may take hold this week.  Meanwhile, MBS has continued their decline (currently Down 13bps), which will lead Lenders to come out with slightly higher Mortgage Rates this morning (compared to last Friday's close).  Yields have continued it's rise, which it normally goes in opposite direction of MBS; and is currently sitting just a hair under 1.13%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, January 8, 2021

Daily Market Report 1/8/21

 http://MikesDailyMarketReport.com: Today, we receive the data from the Bureau of Labor Statistics (BLS) regarding Jobs data.  We'll start off with the Average Earnings, which rose 0.8% in December.  The Non-Farm Payrolls had a revision in November from 245k (initial report) higher to 336k; however, it reported a loss of 140k in December.  The higher revision for November helped some, but it didn't cover all the losses in December.  The Unemployment Rate remained the same at 6.7%.  Wholesale Inventories remained Unchanged in the month of November.  Stocks continue their rise today, as the indexes reach new Milestones.  Meanwhile, MBS is currently Down 25bps because Bond Traders are concerned over the Jobs data and that it will represent more Stimulus packages, which means more Government debt to pay for them.  Mortgage Rates continue to rise, as the MBS broke beneath it's 100 DMA, which we hoped (yesterday) that it would provide some footing, but the trend continues.  Meanwhile, Yields continue it's rise (and breaking above more Technical ceiling along the way).  The 10 year is currently sitting at 1.011%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, January 7, 2021

Daily Market Report 1/7/21

 http://MikesDailyMarketReport.com: The Initial Jobless Claims technically dropped by 3k to 787k people applying for Unemployment because last week's report was revised higher by the same amount.  Also, we're still seeing a positive trend that Continuing Claims is declining each week.  The ISM Non-Manufacturing PMI came in a little hotter in December, as it reported a 57.2 on it's index (up from 55.9 in November).  Forecasts were calling for 54.6.  Stocks are Up on the Congressional Confirmation of Biden's election results and was boosted by the positive reading in the Services Sector.  They're treading new Milestones.  MBS is Down 11bps and testing it's 100 DMA.  Lenders will be pricing Mortgage Rates a bit higher, which should be the trend going forward due to the Georgia Runoff results.  Yields have continued to rise, just under 1.08% and testing it's next Technical Ceiling.  Yesterday's move above 1% was the first since the start of the lockdowns last March.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, January 6, 2021

Daily Market Report 1/6/21

 http://MikesDailyMarketReport.com: The ADP reported a decline of 123k jobs in the Private Sector for the month of December.  This is the first decline since the lockdowns began in March.  However, Factory Orders rose by 1.0% in November.  Stocks are Up this morning on news that there may be a Blue Sweep in the Georgia Runoffs.  Results are not yet final, but it's appearing that there may be a sweep.  The Uncertainty kept Stocks at bay for the past 2 months.  MBS is way down today; Down 31bps (dropping below it's 25- and 50 DMA and approaching it's 100 DMA).  Yields broke the Technical Ceiling and have risen above 1.0% since last March's lockdowns.  What does this all mean for Mortgage Rates?  They have gone up!!!  This is due to a one party control, which will be able to pass their legislation without any checks and balances.  This means that more debt (bonds and MBS) will be issued (supply/demand) to pay for their spending and printing of money, which will lessen the value of the dollar and raise inflation (enemy to bonds/MBS, as it erodes their value over time).

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, January 5, 2021

Daily Market Report 1/5/21

 http://MikesDailyMarketReport.com: The ISM Manufacturing PMI rose to 60.7 in December (beating forecasts).  Stocks are Up this morning, as Investors watch the Georgia runoff today; and determine which Political Party will control the Senate.  This is having the most impact with the Markets today.  The NYSE delisted 3 Chinese Telecoms today, which may have implications with US relations with China.  A few Fed Members made comments that had some impact with the Bond Markets, such as Fed's Bostic mentioning that if the vaccines and pickup in economy happens, then the Fed may "recalibrate"  it's Asset Purchases.  This comment led to a bit of a selloff in the Bond Market.  However, Fed's Meester mentioned that the Fed could continue it's current purchase thru 2021.  MBS is currently Down 16bps, which has led Lenders to price Mortgage Rates a little worse today (compared to yesterday).  The Georgia runoff will have a major impact with MBS Markets too!  If Democrats win and take Majority, then it is expected they will spend (thus more debt) and Mortgage Rates will worsen.  Yields have risen to 0.95% and on it's way to testing it's Technical ceiling.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Monday, January 4, 2021

Daily Market Report 1/4/21

 http://MikesDailyMarketReport.com: Construction Spending is the only economic data released this morning, which was slightly lower than forecasts at 0.9% for November.  We'll see jobs data this week.  Stocks are Down this morning, as we begin the first trading day of the year.  Investors are watching news on the Georgia Runoff, which we should receive results this week.  This will help to determine political power and what policies to be expected.  MBS started the morning higher, then it turned much lower; however, currently, it's just Down 2bps from our close last Thursday.  So, Mortgage Rates remain Unchanged.  Yields have slightly risen to 0.93%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.