Friday, May 28, 2021

Daily Market Report 5/28/21

http://MikesDailyMarketReport.com:  We received the BIG report today and Markets are shrugging it off!  The Personal Consumption Expenditure (PC) jumped up 0.6% in April; whereas, it's YoY jumped from 2.3% in March to 3.6% in April.  When you exclude Food and Energy, then you have the Core PCE (which is what the Fed regards to "real inflation").  This jumped up 0.7% in April; and jumped up from 1.8% in March to 3.1% for April.  Typically, the Fed will keep this number at 2.0%; and even made a statement back in the Fall of 2020 that it will allow it to average at 2.5% for some time before making any adjustments.  Also, there have been debates that Inflation is transitory or permanent.  As we can see by these numbers, commodities spiked (even without the food and energy).  Other reports included Consumer Spending, which went up 0.5% in April; while it's counter-part, Personal Income dropped 13.1%.  However, Manufacturing in the Chicago region came in with it's 2nd highest number in it's history at 75.2 for May.  Lastly, Consumer Sentiment remained relatively Unchanged at 82.9 for May, as Consumers are feeling the Inflation numbers and are not happy about it.  Stocks are Up for the last day of the Month for trading and the Markets will close about an hour early for the long weekend holiday (Memorial Day weekend).  There's now a debate amongst the Fed, as there's been a lot of outward pressure about tapering.  Tapering, if you're not aware, is the decline of the purchases of Treasuries/MBS by the Fed.  This action (purchasing) has helped create liquidity in the Market, but also, has propped up Mortgage Rates (improved them) based on the Supply/Demand.  This was something that the Fed probably wasn't going to start the discussion until around after summer, but with all the talk by the Media and Investors, so now there are members whom are addressing their points of view on the topic during their speaking engagements.  Once the tapering begins, then expect MBS to drop and Mortgage Rates will begin to rise.  Fed Kaplan, member out of the Dallas Fed, mentioned that he felt it may be needed to help fix the excess in real estate; so, higher Mortgage Rates are needed (his sentiment).  The 2022 Budget is about to be released and it's looking closer to a $6 Trillion price tag.  MBS is shrugging off the Inflation data and is leaning toward it being transitory with it's trading today, as it's currently Up 3bps.  Typically, a number like this would spook the Market and there would be a BIG selloff, similar to what we saw about 2 weeks ago when we saw the CPI data.  Mortgage Rates remain Unchanged from yesterday's pricing.  Yields have bounced lower, after touching it's 25 DMA, and is sitting around 1.59%.

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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, May 27, 2021

Daily Market Report 5/27/21

 http://MikesDailyMarketReport.com:  The Weekly Initial Jobless Claims shrunk down to 406k people applying for first time benefits; also, more people are getting off the continuing benefits, as that number shrunk by nearly 100k.  The Q1 GDP remained Unchanged from last reporting at 6.4%.  Our last report will come in June!  The Durable Goods Orders dropped by 1.3% in April; however, if you exclude Transportation (big ticket items), then it rose by 1.0%.  Lastly, Pending Home Sales dropped by 4.4% in April, as we continue to see Listings drop.  We're already at Historic Lows!  Stocks are Up this morning, but moderate levels, as they look for some sort of news of the Fed and prospects of Tapering (reducing their Treasury and MBS monthly purchases).  Tomorrow is the Fed's favorite gauge for Inflation, so be prepared for some volatility, especially if it's high!!!!!  MBS is Down 13bps this morning and have broken below it's 25 DMA.  As a result, Mortgage Rates have pulled back a bit and are priced a little higher.  Yields have climbed back above it's 25 DMA and pushing against a Technical Ceiling.  It's currently sitting just under 1.62%.

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.



Wednesday, May 26, 2021

Daily Market Report 5/26/21

 http://MikesDailyMarketReport.com:  We don't have any economic data worth noting today; however, tomorrow will begin the higher impact data (with the big inflation data, PCE, on Friday).  We haven't been getting much activity in the Markets over the past few days due to concerns on inflation and there hasn't been much high impact reports; so, Friday's data could be a bit of a catalyst for the Markets.  Stocks are Up a little bit this morning, as the Small Cap comanies seem to be the popular trend today.  MBS is Down 5bps this morning as it's current position sits in No Man's land (between 50- and 100 DMA).  The last time we touched the 100 DMA, then MBS sank a bit; so, be careful in this territory -especially ahead of the important inflation data on Friday.  Mortgage Rates remain Unchanged from yesterday's pricing.  Yields are testing it's Technical floor, which appears to be holding.  It's currently 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.



Tuesday, May 25, 2021

Daily Market Report 5/25/21

 http://MikesDailyMarketReport.com:  We have 2 Home Price Indices (HPI) reporting today.  The first is the Case Shiller HPI, which rose 1.6% MoM in March; and it's YoY jumped up to 13.3%.  The FHFA HPI, which uses conforming loans as it's data points, rose 1.4% MoM in March; and it's YoY jumped up to 13.9%.  However, Consumer Confidence disappointed the Markets when it's April reading of 121.7 was revised lower to 117.5.  This was the highest reading since the beginning of the pandemic.  Then to top it off, then it dropped to 117.2 in May.  Stocks are taking it's queue from the disappointing Consumer Confidence report today, as they break a 3 day winning streak.  However, MBS is Up 11bps and should set Lenders with better pricing today than yesterday's rate sheet.  Also, Yields are down a few ticks and currently sit at 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.



Monday, May 24, 2021

Daily Market Report 5/24/21

 http://MikesDailyMarketReport.com:  We have no economic data to report today; however, tomorrow will bring some minor reports and Thursday/Friday will bring some higher impact reports.  Stocks are Up this morning shrugging the uncertainty of what's to come.  MBS is slowly improving, as it begins to approach it's 50 DMA.  Also, Yields are slowly dropping below it's Technical floor and 50 DMA.  It's just under it's 1.61% range.  Mortgage Rates will be a little better today!

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.



Friday, May 21, 2021

Daily Market Report 5/21/21

 http://MikesDailyMarketReport.com:  The IHS Markit PMI released it's Services and Manufacturing reports for May today.  the Services jumped up to 70.1 and Manufacturing climbed up to 61.5.  Both exceeded expectations!  However, Existing Home Sales continued to disappoint, as it reported a drop from 6.01 million annual units in March to 5.85 million in April.  Stocks are in Mixed Territory today, as DOW has been pretty much in positive territory for most of the morning; S&P has been dipping it's toe back a forth; and NASDAQ has been in the Red.  A few Fed Members are speaking today.  We had one Fed Member whom thought we should discuss tapering sooner than later; but for the most part, the others thought it was too soon to discuss tapering.  MBS is currently Up 2bps.  With the exception of Wednesday, we've been pretty much unchanged with Mortgage Rates this week.  Yields slid under it's 25 DMA yesterday and sit between it's 25 DMA and a Technical floor.  It's just under 1.63%.

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.



Thursday, May 20, 2021

Daily Market Report 5/20/21

 http://MikesDailyMarketReport.com:  Manufacturing in the Philadelphia region dropped more than expected, as the Philly Fed Index reported 31.5 for it's May report.  Initial Jobless Claims continue to decline, as 444k people applied for first time benefits last week; however, the Continued Claims did spike a bit last week (by approximately 100k) when it was trajecting lower each week.  Lastly, the Leading Economic Indicator jumped up 1.6% in April.  After 3 days of being in the Red, Stocks are reversing course and in Positive Territory today.  Yesterday, Investors were reviewing the FOMC Notes and saw the words tapering, which they began to panic (in both stocks and MBS Markets), as they felt the Fed would begin to taper sooner than expected.  However, today, they're reviewing the Minutes more thoroughly and realized they over-reacted to the statements.  The Minutes basically state that if the economy continues to rapidly gain steam and hit the Fed's goals, then they can look to discuss tapering at future meetings.  This is still a ways off!  MBS had regained it's over-reaction yesterday, which closed Down 20bps; and now it's Up 19bps.  We're back to the same level of pricing as we've been pretty much the entire week.  So, Mortgage Rates are about the same as yesterday's pricing; and better than yesterday afternoon's reprice for the worse.  Yields are testing it's 50 DMA floor and sitting at 1.63%.

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.



Wednesday, May 19, 2021

Daily Market Report 5/19/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today; however, the Fed will be releasing it's FOMC Minutes around 11am PST today, which the whole Market is on standstill, as Investors wait to view the Fed Members' comments on the latest CPI report.  Stocks are Down again today, as a result over Inflation worries.  Even though, we're seeing great results with the Earnings Reports, Investors are more concerned about Inflation.  Meanwhile, MBS and Treasuries have priced in the inflation data into it's current state.  MBS is currently Unchanged from yesterday's close.  Yesterday, MBS closed Up 13bps; so, some Lenders repriced late in the day with a very slight improvement in their ratesheets.  Those whom didn't reprice yesterday, then have priced it into today's ratesheet.  So, Mortgage Rates are slightly better than yesterday mornings video; however, unchanged from it's close (for the most part).  Yields were testing it's 25 DMA and Technical floors earlier, but currently is settled in at 1.64%.  After the FOMC Minutes have been released, then be prepared for some very choppy Market movements, as Investors position themselves.

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.



Tuesday, May 18, 2021

Daily Market Report 5/18/21

 http://MikesDailyMarketReport.com:  Housing Starts was a big disappointment today, as it was reported a HUGE miss of 1.569 million seasonally adjusted annualized units for April (off it's forecast of 1.71 million).  This has everything to do with the supply and labor issues, which Builders are facing.  Meanwhile, Building Permits (our future Housing Starts) rose a smidgen in April to 1.76 million.  This tells us that Builders want to build, but are having issues with labor and supplies, in order to complete projects.  Stocks are Mixed (NASDAQ lone index in Positive Territory), as Investors are torn between the poor economic data today and some really good Earnings Reports, as such Home Depot crushed it's numbers.  Also, in the Mix are political discussions on a new Infrastructue bill, which Biden and Yellen will promote his $2.3 Trillion and the Republicans will be introducing their proposal today too.  Megers and Aquisitions are making their way, as well!  Yesterday, ATT and Discovery made their announcement; and today, it's Amazon and MGM.  Meanwhile, MBS started the morning higher, but has slipped some.  It's currently Down 2bps now.  We didn't have much movement yesterday; and we're still within a sideways pattern, so Mortgage Rates have remained Unchanged.  Yields have pretty much held at 1.65%

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.



Monday, May 17, 2021

Daily Market Report 5/17/21

 http://MikesDailyMarketReport.com:  Manufacturing in the NY region cooled a bit in May, as the NY Fed reported a drop from 26.3 (highest in 3 years) to 24.3.  Also, Home Builder Confidence remains Unchanged in May, as the NAHB Home Builders Index remained at 83.  Stocks are Down this morning, as Investors begin to worry about Inflation.  However, Fed Members continue with their message that it's too early to make any changes to their accomodative stance, as they believe the recent spike in inflation data is "transitory" due to the bottle neck in the supply chain; and it will work itself thru.  Meanwhile, MBS isn't so affected by the Inflation concerns with it's current position of being Down only 3bps; as Mortgage Rates are Unchanged from Friday's close.  Yields are also in Unchanged territory, as it's currently just a hair under 1.64%.

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.



Friday, May 14, 2021

Daily Market Report 5/14/21

 http://MikesDailyMarketReport.com:  Retail Sales had a very Big Miss today, as it was reported that April was Unchanged for MoM; and when you exclude (big ticket items) Autos, then it dropped 0.8%.  Capacity Utilization rose to 74.9% in April; and Industrial Production also rose by 0.7%.  However, Consumer Sentiment had a very Big Miss too, as it dropped from 88.3 in April to 82.8 in May.  It was expected to rise near 90.  Lastly, the Business Inventories rose 0.3% in March.  Stocks are Up today, even though there were some big misses with Retail and Consumer Sentiment numbers.  They're a bit optimistic with the news by CDC when they stated that those whom have been fully vaccinated should be ok without a mask; hoping this will further boost the economy.  MBS is Up 6bps so far this morning; so, Mortgage Rates are Unchanged from yesterday's close.  Yields have slid down to 1.64%.

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.



Thursday, May 13, 2021

Daily Market Report 5/13/21

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims continued to dwindle a bit lower, as this week's report dropped from last week's revised (higher) 507k to this week's 473k.  We have more inflation data today, from the Wholesale sector this time.  The Producer Price Index (PPI) rose 0.6% in April, while it's YoY rose 2.0% to 6.2%.  The Core PPI (excluding food and energy) rose 0.7% in April, while it's YoY rose 1.0% to 4.1%.  Stocks are back into Positive Territory after yesterday's big selloff.  Meanwhile, MBS is rebounding a bit too today, as it's currently Up 11bps and working it's way back above it's 50 DMA.  Mortgage Rates did have a slight improvement after yesterday's close, which had a few price changes to the worse; and closed Down 44bps.  Also, Yields are back below it's new Technical level (around 1.69%-1.70%).  It's currently sitting just below 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.



Wednesday, May 12, 2021

Daily Market Report 5/12/21

 http://MikesDailyMarketReport.com:  The CPI report made a HUGE mark on the Markets today with it's April report, which shows it's MoM skyrocketing Up 0.8%, while it's YoY lunged upward from 2.6% to 4.2%.  Whe you exclude food and energy, then you have the Core CPI (this report holds more weight due to it being more of the base), which rose 0.9% MoM and it's YoY jumped up from 1.6% to 3.0%.  A healthy economy moves at approximately 2.0% inflation.  The Fed says it's transitory, but many investors are on edge that it may stick.  Time will tell!  Right now, it's a very real concern!  As a result, Stocks are plunging!  A few more Fed Members will be speaking today.  MBS had plummeted too, which it's Down 33bps now; so, Mortgage Rates have spiked a bit higher today, as a result.  Yields shot Up to 1.68% and was testing it's 1.69% technical ceiling earlier.

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.



Tuesday, May 11, 2021

Daily Market Report 5/11/21

http://MikesDailyMarketReport.com:  There are no data to report from the Economic Calendar.  We do have a 3 year Treasury Auction, but it doesn't have much impact on the Markets.  Tomorrow could have some catalysts to push the Markets one way or another.  We have the 10 year Treasury, which can have some impact with Mortgage Rates; but the BIGGIE is the CPI report.  Stocks are Down this morning on renewed concerns over inflation, which the CPI will report it's inflationary data for April.  It's expected to rise from 1.6% YoY to 2.3% tomorrow.  If we can stay below 2%, then the Markets may calm a bit.  If it hits above 2%, then they may snowball with their selling.  There are several Fed Members speaking today, so it's possible they may share their thoughts on this topic today too.  Meanwhile, MBS faced some tough competition yesterday with $29 billion in corporate bonds being sold ($18 billion were from Amazon); which led their pricing to worse levels.  Today, they're Down again, so far, it's down 13bps.  Pricing for Mortgage Rates are worse than yesterday's pricing.  Yields are spiking again.  They're on the verge of breaking above 3 ceiling layers (25- and 50 DMA and a technical level).  They're currently at 1.62%.

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.

 


Monday, May 10, 2021

Daily Market Report 5/10/21

 http://MikesDailyMarketReport.com:  There are no data to report from the Economic Calendar.  We'll start receiving data on Wednesday when we get a look at inflation, by the CPI report.  Stocks are Mixed today as we begin to wind down on the Corporate Earnings Reports.  There are a few Fed Speakers out today, which it's possible their comments could move the Markets.  Lastly, Investors are watching the Colonial Pipeline try to reopen after shutting down 45% of the east coasts energy when they received threats of a cyber attack.  MBS was fighting to go above it's 100 DMA, but have pulled back.  Lenders on the east coast may have priced in the better position and may face a reprice for the worse, as MBS pulled back a below the 100 DMA; while the west coast is seeing pricing as Unchanged from Friday's close.  Yields have risen to 1.59%, as they approach 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.



Friday, May 7, 2021

Daily Market Report 5/7/21

 http://MikesDailyMarketReport.com:  Today is the BIG Day for economic data!  The Jobs Data from the Bureau of Labor Statistics (BLS).  The Non-Farm Payrolls had a HUGE Miss today, as they reported only 266k jobs created for April (when they had expectations of nearly a million); and March was revised lower, going from 916k to 770k.  The Unemployment Rate rose to 6.1% as a result of these very week numbers.  However, Average Earnings rose 0.7% in April, as Employers try to entice employees back to work.  Also, the Average Workweek Hours rose 0.1% to 35.0/week.  Lastly, Wholesale Inventories rose 1.3%.  Stocks are Up, even though the economic data was very weak.  Investors are looking at it as Bad News is Good News today.  A few Fed Members are speaking today; which Neel Kashkari (a Fed Member) reiterated the Feds current stance by using today's disappointing economic data as reason that the Fed will look at outcomes, and not forecasts, as they continue with their accomodative ways.  He said that we still have a long ways to fully recover.  Meanwhile, MBS is doing quite well too!  It's currently Up 13bps, but it was much higher earlier before pulling back.  It was even above it's 100 DMA, but now is just below it.  This will lead to better pricing for Mortgage Rates today.  Even Yields had HUGE drop, when it tested the 1.45% level before pulling back to just under 1.56%.  This may give us some insight into possibilities for future movements in these Markets.

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.



Thursday, May 6, 2021

Daily Market Report 5/6/21

 http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped down to 498k in this week's report (ahead of an important data being released tomorrow, The Bureau of Labor Statistics Non-Farm Payrolls).  However, it is important to note that Continued Claims did have a slight uptick this week by about 37k.  We get our second look (with final results coming next month) at the Q1 Labor Costs and Productivity.  Labor Costs were Down by 0.3% during Q1 and Productivity rose by 5.4%.  Overall, our economic data was very healthy today!  Stocks are Mixed today, as Technology Stocks are pulling down NASDAQ.  The Q1 Corporate Earnings Reports overall continue to above expectations.  There are several members of the Fed speaking this week.  After Yellens interview on Monday, many have restated that the Fed will continue it's course and remain transparent (complete 180 degree of Yellen's comments).  This is helping Markets!  However, the Stock Market is in Over Bought Position, so Investors are looking for reasons to continue buying.  This could lead to some sort of correction in near future!  MBS is steadily making some higher grounds, as it tries to approach it's 100 DMA.  It's currently Down 3bps this morning, after closing Up 9bps yesterday.  It's not enough movement for any change in our pricing for Mortgage Rates; however, if we continue these late improvements, then we could see some improvement with our Mortgage Rates.  Yields have been trending lower too, as it's now down to just under 1.58%.

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.



Wednesday, May 5, 2021

Daily Market Report 5/5/21

 http://MikesDailyMarketReport.com:  The ADP reported only 742k in new private payrolls today, which missed the 800k forecasts.  However, March's data was revised higher from the initial at 517k to 565k.  Also, the ISM Non-Manufacturing PMI dropped in April from 63.7 to 62.7, which forecasts called for 64.3.  Both reports disappointed the Markets early on; however Stocks regained their Positive position.  Most are realizing that the ADP number, even though it missed, it's still a very good number, which we haven't seen in a long while.  Meanwhile, Janet Yellen clarified her remarks from the interview released yesterday that she wasn't trying to predict or influence the Fed into changing their stance on raising rates. MBS started a little lower today, but quickly went to "near" Unchanged levels.  They're currently sitting Up 2bps.  Mortgage Rates are currently Unchanged, as it has been pretty much this whole week.  Yields have worked it's way lower, as it tested 3 layers of resistance (25-, 50 DMA and a Technical level).  It's currently at 1.60%, just below 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.



Tuesday, May 4, 2021

Daily Market Report 5/4/21

 http://MikesDailyMarketReport.com:  Factory Orders disappointed in March, as many economists had expected 1.3% (some even thought higher) MoM growth; however, it came in at 1.1%.  Stocks are Down this morning after comments by Treasurer Janet Yellen.  She indicated that the Fed could raise rates much sooner if the economy begins to overheat.  MBS was higher until those comments too; and is currently Down 2bps.  Mortgage Rates remained Unchanged from yesterday's close.  Yields have slid down further (including below it's 50 DMA); and are currently at 1.59%.

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.



Monday, May 3, 2021

Daily Market Report 5/3/21

 http://MikesDailyMarketReport.com:  ISM Manufacturing PMI came in a bit lower in April at 60.7, based on forecasts of 65.0.  Construction Spending also disappointed, as it was forecasted at 1.9% increase, and it just increased by 0.2% in March.  Stocks are Mixed today, as NASDAQ is lone index in the Red today.  There was some positive economic data out of Europe, along with lower COVID cases.  This initially lowered MBS, which recovered somewhat; and it currently just down 3bps.  It did test much higher levels, but we're currently at previous high levels.  It may take a bit more to push it higher.  Mortgage Rates are currently Unchanged from Friday's close.  Yields had started higher and have subsided too; down to 1.61%.

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.