Monday, November 15, 2021

Daily Market Report 11/15/21  The Empire State Index, which measures manufacturing activity in the NY region, spiked from 19.8 in October to 30.9 in November.  Meanwhile, the Markets are still reeling in last week's high inflation data, which is resulting in higher Yields.  This is concerning Investors quite a bit.  A few headline bits include a possible new Fed Chair for next term, which Biden may be making his selection this week.  Currently, it's between Powell (to be renominated) and Brainard.  Also, it appears to be progress on the Infrastructure Bill, which may come to a head, as soon as today.  I forgot to mention in the video that there will be a virtual meeting between China President Jinping and Biden later today, which they're hoping to calm some of the recent tensions that have arisen.  As for Mortgage Rates, they're continuing to rise, after the bad inflation data being reported last week.  Today, they're Down about 22bps, which translates to about an .125% to the Mortgate Rate.  Having spoken earlier about the rise in Yields, they're now about 1.62%.

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.

No comments:

Post a Comment