http://MikesDailyMarketReport.com: Jobless Claims dropped down to 198k last week, as more people come off unemployment. Also, manufacturing is still pretty hot in the Chicago region, as the Chicago PMI rose to 63.1 in December. Investors are replacing their concerns of the Omicron variant with Labor shortages, as businesses still complain over finding qualified workers. This is a contributing factor to our high inflation and supply chain issues. Meanwhile, MBS is currently Up 8bps; but Mortgage Rates remain Unchanged from yesterday's close. However, there may be some cases that pricing may be a little worse, as some Lenders may not have repriced for the 2nd time yesterday and rolled it into today's pricing. Yesterday, we closed Down 36bps, which is about 11bps worse from when we were doing our video yesterday; and many Lenders at that time were repricing for the first time. Yields are off from earlier highs, and currently sitting just under 1.52%. Next week should be a bit more normal than these past 2 weeks.
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