http://MikesDailyMarketReport.com: We have 2 Home Price Indices (HPI) being released today. The Case Shiller rose 1.8% MoM in June and up 19.1% YoY. The FHFA HPI, which measures single family homes with conforming loan limits, rose 1.6% MoM in June and it rose 18.8% YoY. Manufacturing slowed down in Chicago for the month of August, as the Chicago PMI repots that it dropped from 73.4 to 66.8. Also, Consumer Confidence dropped from 125.1 to 113.8 in August. Stocks are Mixed for the last day of the month, as DOW is lone index in Positive Territory, however, by very thin margin. China started the Markets off in Negative Territory, as their Manufacturing and Services both dropped. Then EU reported a bit higher inflation than was forecasted. MBS started much lower, but off it's earlier lows. It's currently Down 8bps from yesterday's close. Most Lenders will price in a little worse today for Mortgage Rates. Yields climbed back above it's Technical level and sitting at 1.31%.
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