http://MikesDailyMarketReport.com: There are 2 HPIs (Home Price Indexes) being released today. The first is from Case Shiller HPI, which follows the 20 largest US Markets. It increased by 0.9% in October; and it's YoY dropped from 19.1% in September to 18.4% in October. The FHFA HPI jumped up 1.1% in October; while, it's YoY dropped from 17.7% in September to 17.4% in October. The FHFA follows the homes with conforming loans. Both indices indicated a slower appreciation rate in October. This is not to be mistaken that home prices are dropping! It's just indicating that it has slowed a bit, but home prices are still rising (just at a slower pace!!). Meanwhile, the 5 year Treasury Auction was a bit soft today, as expected (due to holidays). MBS did pull off from earlier highs due to the poor auction result, but are currently Up 6bps. Mortgage Rates should be Unchanged from yesterday's pricing/close. Yields are are currently sitting at 1.48%.
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