Tuesday, April 13, 2021

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.

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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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