http://MikesDailyMarketReport.com: No Economic Data to report today. We have some Treasury auctions, which the 10yr performed well, as I was providing the video presentation; so, we may see some improvement soon. This week holds inflation data, which the CPI is released tomorrow and the PPI is released on Thursday. Investors are watching inflation and any news on improvement in the supply chain and jobs data, as the IMF recently downgraded their forecasts for these very issues; and as a result, stocks are Down today. Meanwhile, before the 10 year Treasury Auction, MBS was down 8bps and Unchanged levels; but this wasn't enough for any change in Mortgage Rates. Yields had dipped below 1.60% to 1.58%. We're hoping to see it break below the 1.56% technical floor, so there's less pressure on MBS and we can see some improvements in Mortgage Rate again soon!
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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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