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.

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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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