Wednesday, October 13, 2021

Daily Market Report 10/13/21  The CPI rose 0.4% in September, while it's YoY rose to 5.4% (from 5.3% in August).  However, if you exclude food and energy, then you will see the Core CPI rose only 0.2% in September, while it's YoY remained unchanged at 4.0%.  Obviously, we see it at the gas pumps and grocery stores that these prices are continuing to rise substantially.  Stocks are trading in Positive Territory today as the Core CPI came in a bit tame and investors look to the FOMC Minutes being released.  MBS had a rollover, so the Chart may look misaligned, but it's essentially a reset in pricing and Mortgage Rates are unaffected.  Currently, MBS is Up 13bps, which is also being propped up a bit after a good 30 year Auction.  Yesterday, the Market finished Up 11bps; so, we're seeing a positive trend over the past 2 days of trading for MBS.  Mortgage Rates have improved some from yesterday.  Also, Yields are making their way lower, as it is testing it's Technical floor.  It's currently at 1.55%.

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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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