Wednesday, February 9, 2022

Daily Market Report 2/9/22

 http://MikesDailyMarketReport.com:  The Wholesale Inventory rose by 2.2% in December.  We're waiting on the results of the upcoming 10 year Treasury Auction today, which may have an impact with our MBS Market.  If there's a good appetite for them, as they've gone up since the last auction, then it could have a positive impact for Mortgage Rates.  Tomorrow will be the release of the CPI data, which Investors are awaiting it's release.  Today, Raphael Bostic, whom is a non-voting Fed Board Member mentioned that he expects the Fed to have 3 0.25% point hikes this year, with the possibility of a 4th; and wants to dramatically reduce the Balance sheet.  Meanwhile, Stocks are reviewing the Q4 Earnings Reports.  MBS has been in a fairly wide range within the past half hour of doing this video, which fluctuated between +8bps and -3bps; however, this fluctuation isn't enough to move Mortgage Rates, which has remained Unchanged from yesterday's close.  Yields settled back below it's Technical ceiling, which it broke yesterday; and is just under 1.93%.

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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.



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