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.
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