Wednesday, June 2, 2021

Daily Market Report 6/2/21  There are no economic data being reported today.  This week is May's jobs data.  Typically, the ADP release their data on Wednesday; however, due to the short week, then they extended that release date for tomorrow (along with the weekly jobless claims).  Stocks are Up today, as they look toward Q2 and progress in the economy.  They're closely watching for signs of supply chain and labor improvement before they invest much more in equities.   There are a few Fed Speakers out today, as Fed Member Harker stated that he's in favor of "talking about talking about the possibility of tapering".  Meaning that it's most likely down the road a bit.  MBS improved yesterday to -3bps close, as it was down approximately 17bps; so, most Lenders re-priced for the better yesterday.  Currently, there's no change in MBS trade; so, Mortgage Rates are Unchanged.  Pricing should be similar to what we saw after last Friday's close.  Yields have slid down a bit further, and currently sits at 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.

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