http://MikesDailyMarketReport.com: This week will be about Jobs data for the month of August. The ADP will release their data on Wednesday; Initial Jobless Claims on Thursday; and Friday will be the BLS' Non Farm Payrolls. However, today, we have Pending Home Sales for July, which dropped 1.8%. Stocks continue to rise and set new records today, even though Hurrican Ida hit Louisiana. It's estimated that $40 billion in damage; and New Orleans is without power for at least a few days, as all their power grids are unable to send out power to anybody. MBS is currently Up 8bps today, after it closed Up 28bps on Friday. Lenders will be about the same in pricing as Friday's close. If they didn't reprice for the better on Friday, then they will price out better rates today. Meanwhile, Yields have fallen below the 1.30% Technical level; and is currently just below 1.29%.
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