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.

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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.

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.

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!

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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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.