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.
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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.