Friday, April 2, 2021

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%.

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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.


Thursday, April 1, 2021

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.