Daily Market Report 4/30/21

 http://MikesDailyMarketReport.com:  Today is the day for the BIG Inflation data!  The Personal Consumption Expenditure, or PCE, rose 0.5% in March; and it's YoY rose from 1.6% in February to 2.3% in March.  When you exclude the volatility of food and energy, the you receive the Core PCE (or Fed sometimes refers to it as "Real Inflation"), which rose 0.4% while it's YoY rose from 1.4% to 1.8%.  The Fed has warned this spike is just transitory, but we'll definitely monitor it and see if it becomes embedded into future costs.  Consumer Spending rose 4.2% in March, as the Stimulus checks have helped to bump up this area; and also, Personal Income 21.1% in March.  Wage costs have increased Employment costs, which is adding more to our inflation data.  Something to continue to monitor!  Meanwhile, Manufacturing continues to heat up in Chicago, as the Chicago PMI rose to 72.1 in April.  Lastly, Consumer Sentiment jumped up to 88.3 in April.  Stocks are Down this morning, despite the good economic data out of the US and good Q1 Corporate Earnings, but the data out of China and Europe had soured the mood for investors.  However, MBS is currently Up 6bps and it's starting to look like another possible upward trend, after most of this week being in a downward trend.  Based on yesterday's rebound and today's continuation, Lenders will come out with a little better pricing today on their rate sheets.  Yields are still sitting atop it's 25 DMA at just under 1.64%.

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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 4/29/21

 http://MikesDailyMarketReport.com:  Initial Jobless Claims reports came in at 553k this week, which is lower than last week's revised (higher) 566k number; also, due to lower revision to Continued Claims, this week's data came in a bit higher.  Q1 GDP's initial data came in at 6.4%.  We'll receive 2 more reports, with the final being released in June.  Pending Home Sales disappointed with a 1.9% increase in March with expectations of 5.0%; however, it's difficult to have those numbers when the supply isn't there, as we continue to face historically low inventory levels.  Stocks are currently Up, as NASDAQ was facing concerns over rising Yields earlier.  Early on, Yields touched on 1.67%, but has subsided down to just under 1.65%.  Yesterday, it finished below it's 50 DMA and Technical floor; however, today, it started back up above it's 50 DMA and sitting just atop it.  Q1 Earnings reports continue to impress; but the spike in Yields had investors attention today.  Like Yields, MBS started much lower and Lenders priced their ratesheets with worse pricing compared to yesterday's close.  However, it has rebounded and Lenders are repricing for the better; and Mortgage Rates go back to Unchanged levels.  MBS is currently Up 2bps.  The spike in Yields had developed after hours when Europe reported very good economic data.

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 4/28/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today; however, we did receive the MBA's weekly Mortgage Application, which was lower than last week's report (despite lower rates).  This was for both purchase and refinance applications!  Stocks are still in Mixed Territory, as the S&P (again) the lone index in Positive Territory.  The FOMC wraps up it's meeting today with Chair Powell providing his announcement at 11:15am PST.  Nothing is expected to change, as the Fed has been very consistent with it's message.  The Markets still seem to be pulling back just before his announcement, so it could be a bit volatile after he gives his press brief.  The same for the MBS Market, as it started much lower and even poked it's head in positive territory to now sitting Down 3bps.  Currently, Mortgage Rates are Unchanged from yesterday's close.  This could quickly change after Investors react to the Fed's announcement.  Yields have skyrocketed to 1.64%; jumping above several ceilings to reach it's 25 DMA.

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 4/27/21

 http://MikesDailyMarketReport.com: We have 2 Home Price Indices (HPI) to report today.  The first is the 20 city (20 of the largest market cities) by Case Shiller rose 11.9% YoY; and the FHFA HPI, which gathers it's data from Conforming loan programs, rose 12.2%.  Both were for February.  Lastly, the Consumer Confidence spiked in April, going from 109.0 in March to 121.7 for April.  Stocks are trading in Mixed Territory, as S&P 500 is the only index in Positive Territory.  Investors are watching Q1 Earnings Reports, which we're expecting high impact Tech stocks this week.  Also, the FOMC begins their 2 day meeting today and provide their announcement tomorrow.  Look for Powell to keep the same comments and try to keep it tepid, so he doesn't sound too excited about the economy, which may worry investors again regarding the possibility of out of control inflation.  MBS is Down 6bps so far this morning.  Yesterday, we closed Down 14bps, so some Lenders repriced yesterday for the worse.  Those whom repriced yesterday will be Unchanged; those whom didn't, will reflect the worse pricing in today's pricing.  Yields have spiked up to 1.59% and testing the Technical level.  We could have some influence by the 7 year Note Auction today.  It didn't bode well in February, as rates spiked.  Not saying it will spike today, but it could potentially worsen, if the Auction isn't successful.

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 4/26/21

 http://MikesDailyMarketReport.com: The Durable Goods Orders disappointed in March, as it reported only 0.5%, as forecasts called for 2.3%.  However, when you exclude Transportation, then it came in at 1.6%.  This was due to some order cancellations with Boeing; so these large Transportation numbers can really influence the outcome.  Stocks are Mixed today, as the DOW is the lone index in the Red.  Q1 Corporate Earnings reports continue to be overall very good.  We expect some high impact influencers reporting this and next week.  MBS started the morning much lower (toward lower end of it's trend line), but has responded a bit more postively and is currently Down 6bps.  Yields started the morning up much higher (surpassing it's 50 DMA and Technical ceiling), which it's now down to about 1.57% (just above it's 50 DMA).

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 4/23/21

 http://MikesDailyMarketReport.com:  The IHS Markit PMI released it's Manufacturing and Services data today.  Anything above 50 is considered expanding or growth.  The Manufacturing rose to 60.6 in April and Services rose to 63.1.  New Home Sales came in very hot for March's data!  It's February numbers were revised higher from 775k seasonally adjusted annualized units to 846k.  March came in at 1.021 million.  Stocks are Up on the economic data.  The Q1 Earnings Reports are still being released; however, no major headlines to report.  It's a bit of a rebound after Traders were a bit surprised by the Capital Gains Tax proposal that was reported yesterday, which soured the Stock Market's mood.  There are whispers going around that you may see some large sell-offs in the near future, as they prepare ahead of the new Capital Gains Tax increase.  Meanwhile, MBS started the morning about the same as yesterday's close, but was suddenly challenged (dropping about 19bps).  However, it has subsided and is currently Down 3bps.  Most of the damage was done prior to most Lenders releasing their pricing, so Mortgage Rates should be Unchanged from yesterday's close.  Yields are testing it's 50 DMA ceiling this morning and sitting just under 1.57%.  We'll see how strong of a ceiling the 50 DMA is during these tests.

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 4/22/21

 http://MikesDailyMarketReport.com:  Initial Jobless Claims continued it's downward trend this week, as it was reported only 547k people applied for first time benefits.  Also, to note that Continued Claims have been dropping too.  Existing Home Sales disappointed in March, as it reported only 6.01 million seasonally adjusted annualized units.  This is due to lack of supply!  Lastly, the Leading Economic Indicators rose by 1.3% in March, which is good for future growth of the economy.  Stocks are Down this morning, as they take another day for a break, as many positions are currently in overbought position.  The ECB announced that they will remain accomodative and run the course.  This helped the Bond Market a bit this morning.  Also, Biden introduced a Capital Gains Tax bill that will help to pay for all of the Government spending.  It will be between 40-50% tax rate.  Meanwhile, MBS started the day lower and is currently sitting Unchanged; as Mortgage Rates remained Unchanged from yesterday's close.  Yields continue to test both Technical ceiling and 50 DMA floor; and currently sits just under 1.57%.

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 4/21/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today, but we'll start to see some beginning tomorrow.  However, the MBA released their Mortgage Application data today, which showed an increase last week for both Purchase and Refinance loan applications.  Stocks are Up today after taking a bit of a breather and taking in some profits over the past 2 days.  Q1 Earnings are still being released; and Netflix disappointed!  Right now, the US Market isn't being affected; however, Investors are keeping a close eye on recent COVID upticks in their numbers in Japan and India.  MBS started the morning lower; however, it has worked it's way higher.  It is currently Up 8bps.  Mortgage Rates are Unchanged from yesterday's close; but, it's possible that some Lenders on the East Coast may have priced a little worse due to the lower start in the morning.  Also, Yields are still hanging on between it's Technical ceiling and it's 50 DMA floor (at 1.57% -up from yesterday's 1.56% close).

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 4/20/21

 http://MikesDailyMarketReport.com:  Another day with any economic data to report.  This week will be light in reports being released.  Stocks are still taking a little breather after last week's big push.  Q1 Earnings Reports are still being released, but not having much impact on the Market at this time; however, Investors are watching new data indicating higher COVID case averages over the past 2 weeks.  Meanwhile, MBS is benefitting from the cool down with equities, as it's currently Up 19bps and breaking back above it's 50 DMA.  Mortgage Rates improved from yesterday's pricing.  Yields have slid back below it's Technical level and is currently sitting at 1.56%

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 4/19/21

 http://MikesDailyMarketReport.com:  Today is rather quiet, as we don't have any economic data to report and no headline news that would have any impact with the Market today.  Stocks are Down for the day, as they take a bit of a breather after last week's run.  There's no real big push for investors to continue into new highs without anything significant being reported.  Meanwhile, MBS is Unchanged from last Friday's close, which means that Mortgage Rates remain Unchanged from Friday's close.  However, they did break below it's 50 DMA, so it's worth watching.  Also, Yields broke above one Technical, but still below a very strong Technical (around the 1.62% range).  It's currently sitting at 1.60%, so hopefully it remains below the 1.62% 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.

Daily Market Report 4/16/21

http://MikesDailyMarketReport.com:  The Housing Starts increased by 19.4% in March, as 1.739 million annually adjusted units.  Building Permits, which can be considered future Housing Starts, rose by 2.7% in March with 1.766 million annually adjusted units.  Stocks are in Mixed Territory, continuing the trend to new highs.  NASDAQ is the lone index in the Red, as Yields recovered a bit today after yesterday's big drop.  They're currently sitting around 1.58%.  Stocks are looking at this week's positive economic data, along with the very good Earnings reports from the Financial Sector, as a spring board to continue their upward trajectory.  Meanwhile, MBS are still in good shape.  They did scale back a bit yesterday, from yesterday's intraday high, and closed Up 25bps.  Today, they started higher, but are currently Down about 5bps.  The higher start is positive for Mortgage Rates, as it indicates further trend to moving higher.  Pricing for Mortgage Rates are Unchanged from yesterday's close.

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 4/15/21

 http://MikesDailyMarketReport.com: We have a lot of Economic Data to go over from the Calendar today.  We'll start with Retail Sales, which received a big boost from the Stimulus checks that were recently sent out.  Retail Sales jumped 9.8% in March; and when you exclude Autos, then it jumped up 8.4%.  Manufacturing in the Philadelphia is still hot, while the Philly Fed Index came in at 50.2 for April; and in NY, it is still rising, as the Empire State Index rose 26.3.  Great News on the Jobs front, which Initial Jobless Claims came in with only 576k people applying for first time benefits last week, which is down from previous week's 744k.  Capacity Utilization improved to 74.4% in March and Industrial Production only rose 1.4% in that same period.  Business Inventories rose only 0.5% in February.  Lastly, the NAHB Home Builders Index rose to 83 in April, so we'll watch this index to see if the confidence from Home Builders begin to drop, as rising rates and home prices is shrinking Affordability for most home buyers.  Stocks are Up this morning on the strong data and very good Earnings Reports by Financial Companies, as they continue to report Q1 Earnings Reports.  Also, at various points of the day, there will be several Fed Members speaking.  Investors will be listening for anything being said differently from Fed Chair's Powell's comments.  MBS is also having a big rally today, as it approaches it's 50 DMA; and is Up 27bps.  Mortgage Rates will see improvement over yesterday's pricing.  Meanwhile, Yields has tumbled beneath a very strong floor of support and below another level, as it approaches it's 50 DMA.  It's currently sitting around 1.55%.  Both of these movements are more technical in nature.

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 4/14/21

 http://MikesDailyMarketReport.com:  We don't have any impactful data to report from the Economic Calendar today.  Stocks are trading in Mixed Territory today, as NASDAQ (this time) is the lone index in Red.  We're beginning to review the Q1 Corporate Earnings Reports, which was financials being released today.  Companies like JPM Chase, Goldman Sachs and Wells Fargo released their reports, which showed profits.  Many of the financial companies will begin to show more profits, which is why investors had rebalanced their portfolios out of High Tech to Financials due to the rising Yields.  Financial companies make more money in this environment.  Also, Fed Chair Powell is doing a Q&A, which investors are listening for any changes in his comments regarding the economy and its recovery, along with inflationary data.  MBS is currently Down 2bps, however, it got a boost yesterday, after it's 30 year Bond Auction, which went very well; and many Lenders did a reprice for the better.  It closed Up 41bps yesterday.  Mortgage Rates today remain Unchanged from yesterday's closing prices.  Meanwhile, Yields tested the 1.62% floor yesterday, only to bounce up a little higher to 1.64% this morning.  It's still below it's 25 DMA, which may provide us with a 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 4/13/21

 http://MikesDailyMarketReport.com:  We had inflation data being reported today with the Consumer Price Index, or CPI, for the month of March.  The CPI jumped up 0.6% in March and it's YoY jumped up to 2.6% (up from 1.7% in February).  The Core CPI rose only 0.3% in March and it's YoY rose to 1.6% (from 1.3% previously).  Core CPI excludes both food and energy, as we (consumers) can attest at the grocery stores and gas stations that those prices have significantly rose.  Later today, we'll have the 30 yr Bond Auction, which could have some impact with Mortgage Rates (MBS Market).  Stocks are in Mixed Territory today, as the DOW is lone index in the Red.  Much of the movement today came after the news that the CDC temporarily suspended the J&J vaccination, as there have been a few cases with women obtaining blood clots.  Also, there are a few Fed Members speaking today, so Investors will be listening to their thoughts on economy and possible actions by the Fed.  MBS had a rollover day, which means a reset to pricing for MBS.  This occurs once a month, as they prepare for May's MBS loan packages.  However, the MBS is doing quite well today, as it's Up 27bps; so, Mortgage Rates have improved since yesterday's close.  Meanwhile, Yields have slide Down to 1.65% and testing it's 25 DMA.

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 4/12/21

 http://MikesDailyMarketReport.com: The only items on the Economic Calendar today is the 3- and 10 yr Treasury Auctions.  There wasn't any response from the Market regarding it's results, which was ok.  Stocks are Down this morning after breaking new highs last week.  Fed's Powell was interviewed on 60 Minutes yesterday and reiterated what he's been saying all along that he expects economy to really pick up 2nd half of this year; no rate hike this year; inflation is transitory; and will allow Market to run hot in order to help jobs data.  MBS also improved last week, as it broke above it's 25 DMA.  However, like it's stock counter-part, it's taking a bit of a break today too, as MBS is currently Down 2bps.  Mortgage Rates should remain the same as Friday's close.  Yields are still above it's 25 DMA and sitting just under 1.68%.

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 4/2/21

 http://MikesDailyMarketReport.com:  Today, we received the Jobs data from the Bureau of Labor Statistics (BLS).  They revised their February numbers from 379k to 468k; and March came in at 916k -nearly 1 million new jobs reported!!!!!  The Average Work week increased from 34.6 to 34.9 hrs in March, which is very high (compared to historical average in mid-34 hr range).  Meanwhile, the Average Earnings dropped by 0.1% MoM in March.  Lastly, the Unemployment Rate dropped from 6.2% to 6.0%.  Stocks are Up on the Job data!  Meanwhile, MBS dropped 16bps, which led to slightly higher (about .125% rate) Mortgage Rate in the ratesheets today.  Yields rose to 1.71%.

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 4/1/21

 http://MikesDailyMarketReport.com: Initial Jobless claims jumped up this week from last week's revised 658k people applying for first time benefits to 719k.  Tomorrow will be the Jobs data from the Bureau of Labor Statistics (BLS).  ISM Manufacturing PMI reiterates all of the other manufacturing data that it's getting hot.  It rose from 60.8 in February to 64.7 in March, which is the highest since 1983.  Last of all, Construction Spending dropped by 0.8% in February.  Stocks are Up today after a pretty choppy March.  Investors are reviewing the newly introduced $2.3 Trillion Infrastructure Package that will raise corporate taxes.  MBS are having a good start to the month, as they're up 23bps; so, Mortgage Rates will show some improvement today.  Yields have slid down to 1.67%.

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.