Wednesday, November 10, 2021

Daily Market Report 11/10/21

 http://MikesDailyMarketReport.com:  Today's big report was a HUGE disappointment, as CPI (consumer inflation) jumped up 0.9% in October.  It's Core CPI  (excludes food and energy) rose from 4.0% in September to 4.6% in October.  Highest in 30 years.  Initial Jobless Claims reported 267k people applied for first time unemployment benefits last week.  This is normally released on Thursday, but tomorrow is a federal holiday (Veterans Day) and the Markets will be closed (no video tomorrow).  Wholesale Inventories rose 1.4% in September.  The Markets are panicking over the high inflation data being reported today, as Stocks are well into Negative Territory; and MBS is freefalling currently (Down 45bps; however, as soon as video was complete, it's now down 65bps).  This is approximately a 0.5% cost to mortgage costs; so, a No Point loan yesterday will cost you 0.5% to obtain that same rate today.  Meanwhile, Yields are moving inversely; and now around 1.54% (after closing around 1.42% yesterday).  The Markets will be closed tomorrow; and Friday isn't expected to see much activity.  Next video will be on Friday.

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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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