http://MikesDailyMarketReport.com: The Case Shiller Home Price Index (HPI) rose 1.5% in December; and it's YoY increased to 18.6%. This index measures home appreciation in the 20 Largest Markets in the US. However, the FHFA Home Price Index rose 1.2% in December, while it's YoY remained Unchanged at 17.6%. This index measures the homes with conforming loans attached to them. IHS Markit PMI released both their Manufacturing and Services data for February. Both sectors increased, as January was badly affected by Omicron. The Manufacturing rose from 55.5 in January to 57.5 in February. The Services rose from 51.2 in January to 56.7 in February. Lastly, the Consumer Confidence dropped to 110.5 in February. Both Stocks and MBS are Down today based on yesterday's news (Russian advances into Pro-Russian sections of Ukraine). US and allies retaliate with sanctions. MBS is currently Down 17bps, which has Mortgage Rates priced a little worse today. Yields are currently sitting around the 1.93% level.
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