http://MikesDailyMarketReport.com: The Producer Price Index (PPI) rose 0.6% in October. This index gauges inflation in the Wholesale sector. The Core PPI (excludes food and energy) rose 0.4% in October, while it's YoY remained Unchanged at 6.8%. Investors are watching the inflation data this week, as Stocks are in Negative Territory. MBS had their monthly roll-over last night, so on the chart, it appears to have worsened. However, this just means a reset in pricing and does not affect our pricing for Mortgage Rates. Currently MBS is Up 25bps, so Mortgage Rates improve today. Inversely, Yields have dropped a few bps this morning and sit just a hair under 1.42%.
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.