Monday, November 8, 2021

Daily Market Report 11/8/21  There are no economic data to report today.  We'll look at Inflation data later this week, with the PPI and CPI reports.  There are a few Treasury and Bond Auctions, which could theoretically influence mortgage rates (depending upon the demand).  The Markets are taking it's cue a bit from Friday's announcement around the Pfizer anti corona virus pill, as it created much optimism with Investors.  Meanwhile, we have a few Fed Members speaking today.  Fed Member Bullard spoke a bit earlier today, which he foresees the Fed raising rates at least twice in 2022; and more rapidly, if inflation persists.  MBS started the day a bit lower today  (on it's 50 DMA).  It's currently Down 9bps, which has been steadily improving over the past few moments while creating this video.  Earlier Ratesheets may indicate a little worse pricing; however, the later Ratesheets my indicate pricing as Unchanged from Fridays close (which MBS closed +41bps -solid day!).  Yields are facing similar movements (but inverse) as MBS, as they sit atop it's 50 DMA and up a few bps from Friday's close.  It's currently at 1.48%.

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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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