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.