http://MikesDailyMarketReport.com: Today, we have the Leading Economic Indicators Indexe for the month of November, which rose by 1.1% in November. This idex gives us a good view of the upcoming economy over the next 6 months; however, it can change with the outstanding variables, like Inflation and the Corona virus. Stocks are Down today, as Investors worry about global growth, as many European places are implementing lockdowns over the Omicron variant. Meanwhile, they're also reacting to the latest obstacle for the Build Back Better program. My opinion, it's good that it doesn't pass! Meanwhile, MBS started Up 9bps and had moments higher, but over the last few hours, it has been deteriorating and is currently Down about 3bps. This is leading Lenders to think about a reprice for the Worse; otherwise, pricing for Mortgage Rates would be comparable to Friday's pricing. Also, Yields are working in the inverse action, which it was around 1.38% and is now Up to 1.42%.
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