http://MikesDailyMarketReport.com: There's no economic data to report today, but the CPI tomorrow and retail sales on Thursday will be the big headline items for this week. Also, we need to look toward next week when the FOMC begins their 2 day meeting. Here, we'll find out if the Fed will proceed to begin it's taper this year, or hold on until possibly next year. Stocks are trading in Mixed Territory, with NASDAQ in the Red. There was a survey, done by Deutsche Bank, for Investors, which "2/3 are expecting at least a 5% decline in stocks by end of the year. The same survey found the biggest risks to the market are new variants that bypass vaccines, and higher than expected inflation or bond yields." (reported by MarketWatch). MBS is currently Up 8bps. Mortgage Rates remain Unchanged. If you look at the Candle Chart, then you may wonder why today's candle is low on the chart and still be up? It's because we had a Bond rollover day, which happens approximately every 30 days as MBS are packaged and sold on Wall Street (reasoning behind 30 day locks). It's a reset in the pricing for the new month ahead, but does not affect Mortgage Rates. Lastly, Yields slipped to just under 1.33% this morning.
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.