Monday, October 18, 2021

Daily Market Report 10/18/21  Industrial Production continued to drop in September, as it was reported a 1.3% drop; meanwhile, it's August report was revised from an increase of 0.4% to a drop of 0.1%.  Investors received a pleasant surprise, as the NHIB Home Builders Index rose 4 points to 80.  This index measures the confidence level for Home Builders.  Meanwhile, stocks are trading in Mixed territory, as they continue to review Q3 Earnings Reports and other data.  China reported a significant drop in their Q3 economic data, as it dropped from 7.9% to 4.9%.  This had early trading in negative territory, but had subsided since then.  Meanwhile, inflation is still a concern, as energy prices continue to rise (price of a barrel of oil is now over $81).  MBS was Down much more earlier in the trading day, but has subsided to being Down 9bps currently.  Most Lenders priced in approximately a hit of 0.25% to the Mortgage Rates earlier today, but have shown some price improvements (now down only about 0.125% from Friday's pricing).  Yields have spiked again, as it topped 1.60% earlier on; and now is just a hair under it.

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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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