Daily Market Report 3/31/22

 http://MikesDailyMarketReport.com:  Today is Day 2 of March Jobs Data, which the Initial Jobless Claims rose back above 200k, at 202k last week.  Also, The Challenger Layoffs (Job Layoff Announcements) jumped up by approximately 6 million.  Something we'll need to watch, as that's a pretty big spike with job losses.  Tomorrow will be the Jobs data from the Bureau of Labor Statistics (BLS).  Personal Income rose by 0.5% in February, which Consumer Spending rose only 0.2%.  Probably our biggest impactful data this week is the Personal Consumption Expenditure (PCE).  The Core PCE is the Fed's favorite gauge for inflation, which gives it such an high impact; especially when one of the biggest concerns with the Markets has been high inflation.  The PCE rose by 0.6% in February, while it's YoY rose to 6.4%.  The Core PCE rose 0.4%, while it's YoY rose to 5.4% (slightly below forecasts).  Because this settled in slightly below forecasts, the Market is reacting ok with the news.  Lastly, the manufacturing in the Chicago region spiked in March, as the Chicago PMI reported that it jumped from 56.3 in February to 62.9 in March.  Investors are reviewing the poor Q1 in the Stock Market, along with the high inflation data; war between Ukraine/Russia; and the renewed lockdowns in China.  However, one piece of news has helped a little bit, and that is the announcement that the US will release about 31% of their reserved oil supply to reduce the gas prices.  Stocks are in Negative Territory; however, this is helping MBS today, which is Up about 5bps.  Mortgage Rates remain Unchanged from yesterday's close, but this helped in the manner that it might help against inflation.  Meanwhile, Yields have slid down to about 2.32% today.

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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.

Daily Market Report 3/30/22

 http://MikesDailyMarketReport.com:  The ADP report came out better than expected for March, which reported 455k new jobs in the Private Sector; and it's February data was revised higher, from 475k to 486k.  However, the final revision for the Q4 GDP came in a bit lower, at 6.9%, which we can expect it to come down a bit, as it was propped up due to high demand in Housing, which is expected to slow a bit with higher rates.  Also, much of it was built up from COVID Lockdowns (like a dam bursting).  Yesterday, it was reported that Russia will "fundamentally" move it's attacks away from Kyiv and another city nearby; however, it appears that may have been short-lived, as there appears to be fresh attacks.  There was hope for Peace (and the hope continues) yesterday, which the Markets positively reacted (MBS closed +48bps).  Today, Stocks are down and MBS is Up 25-27bps, as Mortgage Rates have another day of improvement.  This may be short-lived, as tomorrow, the PCE will be released.  This is the Fed's favorite gauge for inflation.  Another hot number could hurt MBS tomorrow!  Meanwhile, Yields have slid down to the 2.35% range.

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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.

Daily Market Report 3/29/22

 http://MikesDailyMarketReport.com:  The Case Shiller Home Price Index (HPI), which measures the 20 largest Markets rose by 1.8% in January to 19.1% YoY.  Likewise, the FHFA HPI rose by 1.6% and it' YoY rose to 18.2%.  Funny thing, Consumer Confidence data for February was reduced from it's initial number of 110.5 to 105.7 -a pretty steep decline.  For March, it came in at 107.2; so, before revision, then it would have dropped; however, because of the revision, then it rose.  Later, we could have some impact with the MBS/Yields Markets with the 7 year Treasuries Auction.  The 5 year did fairly well yesterday, which helped the Market for a little bit.  When we did the video yesterday, then we were at approximately Up 5bps and shot up to 17bps after Auction, only to settle in at 9bps.  Today, MBS started lower, but quickly spiked on reports of possible Peace Settlement between Russia and Ukraine.  MBS is currently Up 34bps, which has led to some better pricing for Mortgage Rates.  This led to a drop in Oil prices (below $100/barrel) and hopefully can address some of the supply chain issues that may lead to potential food shortages here domestically (wheat out of Ukraine and soil out of Russia).  Yields are have slid down to 2.39% (coming closer to pre-Ukraine conflict levels).

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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.

Daily Market Report 3/28/22

 http://MikesDailyMarketReport.com:  There is nothing on the economic calendar today; however, there will be some important data being released this week, which include the Fed's favorite gauge for inflation (PCE); Jobs data; GDP for Q4; and Home Price Indices.  There is not much new news of late, as we still have conflict in Ukraine with Russia and China continued with more Lockdowns due to Covid.  Oil Prices have settled down a little bit with China's lockdowns, as there will be less consumption/demand in the short-term.  Stocks are a bit mixed today, as NASDAQ is still dealing with high Yields (currently at 2.48%), which cuts into many of their Growth Stocks' profits.  MBS are still having trouble garnering interest from Investors, whom are worried about the thoughts of our economy going into a Stagflation period (based on rising rates and continued high inflation).  If you're not aware, then inflation is the enemy to bonds (MBS), as it erode it's investment dollars over it's life (30 year duration).  MBS is currently Up 5bps, but it had closed Down 80bps on Friday, so Mortgage Rates remain Unchanged from pricing found after Friday's close.  If you haven't seen the news yet, but rates have already spiked to the (near) 5% range last week.

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.

Daily Market Report 3/25/22

 http://MikesDailyMarketReport.com:  Pending Home Sales dropped by 4.1% in February to 104.9k seasonally adjusted units.  Meanwhile, Consumer Sentiment dropped by 0.3 to 59.4 in March, as Consumers watch Fed Hikes, Inflation, Ukraine/Russia Conflict unfold.  Markets are reacting to very hawkish comments from Fed Members this entire week and are pricing for worst case scenario, that they will implement multiple 0.5% rate hikes this year (in lieu of the normal 0.25% increments).  Also, there was a report out that Russia may be satisfied with less than full control of Ukraine, which has the Markets shifting investment dollars from Treasuries and Bonds back to Equities.  Stocks are Mixed, as NASDAQ continues to get hurt by the higher Yields, which are now up to 2.48%.  Meanwhile, we've experienced several repricing for the worse with MBS today, as they continue to decline.  MBS is currently Down 73bps, as Mortgage Rates continue to worsen.

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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.

Daily Market Report 3/24/22

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims dropped below the 200k for the first time since the beginning of the Pandemic.  It came in at 187k; and the Continuing Claims declined, as well.  However, the Durable Goods Orders dropped by 2.2% in February.  Markit PMI released both their Services and Manufacturing data for March, which anything above 50 is considered expansion.  The Services went up to 58.9, while the Manufacturing rose to 58.5.  Both sectors had forecasts of regression for March, but they had improved.  There were a few different Fed Speakers today, which all pretty much feel there will be 7 rate hikes this year; and they're looking to get the Fed Funds rate to the 2.75% - 3.00% range.  Meanwhile, NATO leaders meet and added more sanctions against Russia, as they continue to wage war with Ukraine.  Investors reversed course with their investment dollars today and Stocks are Up, but MBS is currently Down about 27bps.  It was lower earlier on and subsided some; leading to many Lenders to reprice for the better.  However, our ratesheet still isn't as good as yesterday's, as we lost most of those gains today.  Yields have risen a bit today too, as it is currently around 2.35% now.  

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.

Daily Market Report 3/23/22

 http://MikesDailyMarketReport.com:  New Home Sales dropped 2.0% in February to 772k seasonally adjusted units due to spike in Mortgage Rates, as affordability continues to decline.  The hawkish talk from other Fed Members continues, as the Markets adjust to the Fed's policy changes, which include ramping up on rate hikes (may include higher than 0.25% hike increments) and balance sheet reduction.  As Yields have spiked to nearly 2.40%, then Investors have moved over some investment dollars to Bonds and Treasuries.  MBS has had a seesaw type of morning, as Investors bought early on, only to sell off, and appear to be buying again.  Currently, MBS is Up 20bps.  Mortgage Rates are showing some improvement from yesterday's close, after we saw 2 days of selloff.  Yields have come down to 2.34%.

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.

Daily Market Report 3/18/22

 http://MikesDailyMarketReport.com:  Existing Home Sales dropped 7.2% in February to 6.02 million seasonally adjusted units.  But, Leading Indicator Index rebounded in February to 0.3%, after a bit of a contraction (-0.5%) in January.  Investors continue to monitor the Ukraine/Russia situation, as it's being reported that Russia was bombing Lviv, which is a city near the Poland border.  Meanwhile, a few Fed Members, Waller and Bullard, both indicated that they'd like to see at least a 0.5% rate hike at one of the meetings, and possibly multiple times this year.  Waller would like to see the Fed Funds Rates at or above 2-2.25% and Bullard would like it at 3.0% by year end.  MBS was Up (+25bps) for a bit this morning and many Lenders repriced for the better; however, over the past 40 minutes, those gains have dwindled down to +8bps.  If this persists, then you may see Lenders reprice for the worse.  Pricing will look more like yesterday's close, or Unchanged.  Yields took a step lower today, and currently around 2.15%.

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.

Daily Market Report 3/17/22

 http://MikesDailyMarketReport.com:  Housing Starts rose by 6.8% in February to 1.769 million seasonally adjusted units; however, Building Permits (future Housing Starts) dropped 1.9% to 1.859 million.  This matches the drop in Home Builder Confidence, which is mostly attributed to the higher Mortgage Rates and lower Affordability.  Meanwhile, the Philly Fed Index surpassed forecasts in March to 27.4.  This index measures manufacturing in the Philadelphia region.  This improvement is a vastly different view than what we saw from the NY region earlier this week which contracted.  The Initial Jobless Claims dropped down to 214k last week; and Continued Claims dropped too.  Lastly, the Industrial Production rose 0.5% in March.  The Bank of England hiked their rates today, like our Fed yesterday, but the rest of their announcement was rather Dovish; so, the Markets didn't really react to it.  As you know the Fed hiked the Fed Funds Rate yesterday by 0.25% and announced there will be more to come (approximately 6 more) this year.  They also, mentioned that they may begin discussion of the Balance sheet at the next FOMC.  So, prepare for more choppiness in the Markets.  Yesterday, was a bit like a seesaw, as we saw MBS really drop after the announcement (like -63bps), only to close Down 39bps.  Today, Investors are buying on the Dip and Mortgage Rates are slightly better than yesterdays close, as MBS are currently Up 19bps.  Yields have come down a little as a result too, as it's now around 2.16%.

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.

Daily Market Report 3/16/22

 http://MikesDailyMarketReport.com:  Retail Sales only rose 0.3% in February after a hot January, which rose (revised higher) 4.9%.  The NAHB Home Builders Index declined again in March to 79.  This index measures the confidence with Home Builders.  This is mostly attributed to higher Mortgage Rates and lower Affordability.  Next up, is the Fed's Announcement at 11:15 am PST, which they're expecting to announce a rate hike.  Investors will review it's change in policy, especially with new events (Ukraine/Russia and lockdowns in China).  They will also look toward the Dot Plot for estimates on future rate hikes, which many are projecting between 5-7 this year.  Markets are positioning ahead of the Announcement.  Stocks are currently Up with news of progress with cease fire talks.  MBS is losing investment dollars to stocks and are Down 25bps, so Mortgage Rates have worsened by approximately an 0.125% to the rate of quarter of a point in fee from yesterday's ratesheet.  Yields continue to run higher, as they hit 2.19%.

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.

Daily Market Report 3/15/22

 http://MikesDailyMarketReport.com:  The headline news for Producers Price Index (PPI), which measures inflation for Wholesalers, rose 0.8% in February; whereas, it's Core PPI (excludes food and energy) rose only 0.2%.  The Core PPI dropped to 8.4% YoY from a higher revision to 8.5% in January.  Normally, this data wouldn't have as much impact with the Markets, but the Markets are inflation focus, so any inflationary data will be heavily impactful.  Lastly, the Empire State Index contracted by 11.8% in March.  This index measures the manufacturing in the NY region.  Today is the start of the 2 day FOMC, whom will announce their (expected) rate hike to the Fed Funds Rate by 0.25%.  Investors are still watching the war in Russia/Ukraine and the new lockdowns happening in China.  Stocks are Up today and have been gaining steam!  MBS started the day Up much higher, but have since reversed and is Down 8bps.  Lenders (back East) had to reprice for the worse; the price changes were mostly reflecting nearly Unchanged levels from yesterday's close.  However, we may see the Market continue to worsen for more worse price changes.  Yields were down to 2.08%, but also reversed directions to 2.15%.

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.

Daily Market Report 3/14/22

 http://MikesDailyMarketReport.com:  There are no economic data to report today; however, there will be some important data being reported this week.  Tomorrow, we'll receive inflationary data on the wholesale sector with the PPI report.  Typically, this report isn't high impact, but because of our current inflation focus, it will have a much greater impact.  Also, tomorrow will be the start of the 2 day FOMC, which it's expected that the Fed will announce they'll hike the Fed Funds Rate by 0.25% on Wednesday.  The Markets are reacting to a rumor of some optimism that peace talks between Russia and Ukraine has Stocks in Mixed Territory; where NASDAQ is the lone index in the Red.  This is mostly due to the spike in Treasuries, which has skyrocketed to 2.13% (new recent highs).  This is due to their high growth stocks, which are impacted by higher borrowing costs, which is represented by Treasuries.  Also, China is locking down Shenzhen region due to spike in COVID, which is worrying because it will negatively impact the supply chain; and this will further increase inflation.  We moved the MBS coupon to the 3.5% coupon, as mortgage rates have spiked to the 4% range.  We're currently Down 63bps, which concludes that Mortgage Rates today are higher than Friday's close.

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.

Daily Market Report 3/11/22

 http://MikesDailyMarketReport.com:  Consumer Sentiment dropped a little lower than expectations for March to 59.7, as Consumers are faced with the Russia/Ukraine conflict and rapidly rising inflation and gas prices.  There were reports out there that Putin commented to Belarussian counter-parts that there have been progress made in talks with Ukraine.  The Markets reacted more favorably, as stocks have moved in Mixed Territory.  Also, the Fed announced the completion of their tapering today.  MBS moved lower after the announcements, as Lenders may be repricing for the worse.  Mortgage Rates are in the range of Unchanged to maybe a little worse today.  Yields have been keeping to a range between 2.00% and 1.99%.

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.

Daily Market Report 3/10/22

 http://MikesDailyMarketReport.com:  Today is the week's biggest report, which is the Consumer Price Index (CPI), which measures Consumer Inflation.  The Headline number rose 0.8% in February and it's YoY rose to 7.9%; but if you excluded the Food and Energy, which is the Core CPI, the it rose 0.5% in February and it's YoY rose to 6.4%.  Of course, these are 40 year highs!  Meanwhile, the Initial Jobless Claims rose to 227k last week with more people Continuing Claims.  The Markets started in the Red early this morning after the ECB announcement.  The ECB announced that they (like our Fed did earlier) will speed up their Bond Purchases due to rampant inflation.  Currently MBS is Down 42bps and had an earlier price change for the worse; so Mortgage Rates are again worse today.  However, a possible bright spot happened with the 30 year Bond Auction, which went very well.  This Auction may have topped off the MBS decline (at least for today).  It's been moving sideways since the Auction results.  Also, Yields have spiked back up to the 2.00% level again!

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.

Daily Market Report 3/9/22

 http://MikesDailyMarketReport.com:  There are no economic data to report today; however, later this morning, the 10 year Treasury Auction will take place.  This could potentially move the Markets a bit, depending upon it's success, or lack thereof.  Meanwhile, Ukraine and Russian Ministers meet in Turkey to discuss possible detente and Market is reacting positively to the news.  Also, many US companies are announcing their move from Russia, as the war continues.  Unfortunately, for MBS, the investment dollars are leaving and flowing back to equities again today.  MBS started the morning much lower, but has subsided a bit to being Down 23bsp.  So far for the week, we're down about 100bps, or about a 1 point.  Not a good week for Mortgage Rates!  Yields continue to rise and are currently Up to 1.91%.

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.

Daily Market Report 3/8/22

 http://MikesDailyMarketReport.com:  Wholesale Inventories rose 0.8% in January, which came in as expected.  Later this morning, there will be a 3 year Treasury Auction, but it shouldn't impact the Markets much, but tomorrow's 10 year will have more of an impact.  Stocks are Up, especially the Energy sector, as they buy on the dip and as the energy prices rise, so are their profits.  Similarly, when the interest rates begin to rise, then the financial sector will profit more too.  The US officially decided to ban energy products from Russia to add more pressure on them.  Meanwhile, this is sending shock waves to energy prices, along with higher prices with metals, wheat, etc... (the trickle down effect).  The inflation concerns has MBS Down 42bps today (after closing down 43bps yesterday).  Mortgage Rates continue to worsen based on these concerns.  Meanwhile, Yields spiked about 10 points and are currently up to 1.87%.

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.

Daily Market Report 3/7/22

 http://MikesDailyMarketReport.com:  Today, there are no economic data to report; and this week will be very light, with the exception of Thursday, which will contain inflation data (CPI).  Markets are taking it's queue from the 12th day of Ukraine/Russia war, as oil reaches $130/barrel and US, along with it's allies, consider banning Russian energy products.  Their allies will be more adversely affected, if they act on this consideration, as it makes up 45% of their energy imports; and the US is probably less than 3%.  Investors are worrying about Stagflation, as signals appear.  Today, the flight to safety moved to gold, as investment dollars are being shuffled over; and concerns of stagflation weigh on the Markets.  MBS is currently Down 16bps, as Mortgage Rates worsened slightly from Friday's pricing.  Yields have come back down to the 1.74% range.

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.

Daily Market Report 3/4/22

 http://MikesDailyMarketReport.com:  Today, we receive the Jobs data from the Bureau of Labor Statistics (BLS), which is the data we've been waiting on.  We'll start with the Average Work Week for February, which rose by 0.1 hrs to 34.7 hrs.  Average Earnings remained Unchanged for February, which is good news for our inflation data.  The Unemployment Rate dropped from 4.0% in January to 3.8% in February.  Lastly, there were 678k new jobs created in February.  Even though, we got great economic data, Stocks are Down on the latest from Ukraine, as it was being reported that a large Nuclear reactor was on fire.  The concerns are obvious!  Again, there is a "flight to safety", which is benefitting MBS, which is currently Up 31bps.  However, it's off from it's earlier highs.  Pricing for Mortgage Rates are better compared to yesterday's close.  We could see some price changes for the worse, as we are off from our highs to a level that may push Lenders to act; but the pricing will still be better than yesterday's close.  Yields have slid all the way down to 1.74% now.

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.

Daily Market Report 3/3/22

 http://MikesDailyMarketReport.com:  We're seeing improvement with Jobs, as Challenger Layoffs dropped nearly 5 million in February to 15.245.  These are announced layoffs.  The second Jobs data for this week is the Weekly Initial Jobless Claims, which dropped down to 215k for last week.  However, we didn't see much movement on Continued Claims.  They were mostly Unchanged.  Unfortunately, Labor Costs were revised much higher from it's initial reading of 0.3% for the Q4, and came in at it's final number of 0.9%.  This is important because it is inflationary.  Higher Labor Costs lead to higher costs to products and services; thus, passing that onto the Consumer.  Productivity remained Unchanged at 6.6% for it final Q4 reading.  Factory Orders are doing much better than anticipated.  It's December data was revised from -0.4% to +0.7%.  It's forecast for January was 0.7%, and it came in at 1.4%.  Unfortunately, the Services Sector didn't fair as well as the other data, as the ISM Non-Manufacturing PMI reported that it dropped from 59.9 in January to 56.5 in February.  Anything above 50.0 is considered expansion/growth.  Fed Chair Powell is in his second day speaking before Congress (today with the Senate Committee).  We learned yesterday that the Fed intends to hike rates at it's March FOMC by only 0.25%, in lieu of many reports of a 0.5% hike.  Today, he mentioned that the Fed will proceed slow and steady, as it will allow some flexibility due to the Ukraine/Russia War.  It's being speculated that it means approximately 3 rate hikes over the next few FOMCs and possibly take a break at it's June meeting to decide any further direction.  Both Stocks an Bonds have been Up and Down today, like a seesaw.  MBS had seen some price improvements earlier on; however, it had deteriorated to nearly Unchanged levels.  We could possibly see Lenders reprice for the worse, which will put pricing back to Unchanged from yesterday's close.  Unfortunately, we closed Down 93bps yesterday; so, all the gains made on Monday and Tuesday were wiped out from yesterday's Market reactions.  Yields are currently at 1.85%.

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.

Daily Market Report 3/2/22

 http://MikesDailyMarketReport.com:  The ADP released their data today, which is the first jobs data for this week.  The January data had a HUGE revision upwards, after last month disrupting the Market, as it was revised from being Down 301k to being Up 509k.  800k MISS!!!!  Can't understand that big of a miss!  Any ways, February reported better than expected at 475k.  Today is the start of Fed Chair Powell's testimony before Congress, which he is speaking with the House today and the Senate tomorrow.  One good nugget that came away is he addressed the first rate hike to be announced on March 16th, which will be the usual 0.25%; and not the larger 0.5% hike that many were starting to expect.  Stocks are taking a break from the "flight to safety" today and buying on the dip.  Money is flowing back from Bonds/Treasuries to Equities.  As such, MBS is Down 68bps today, as Mortgage Rates worsen from yesterday's rate sheet.  Yields spiked higher today, as it reached 1.84%.

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.

Daily Market Report 3/1/22

 http://MikesDailyMarketReport.com:  The ISM Manufacturing PMI rose to 58.6 in February.  Anything above 50 is considered expansion/growing.  Construction Spending had a big revision for it's December data, which was revised from 0.2% to 0.8%; and it's January's data came in up 1.3%.  This latter data doesn't hold much impact with the Markets, however.  Meanwhile, Investors continue to be concerned over the impact with the Ukraine/Russia war, as they continue with the "flight to safety", as Stocks drop and investment dollars flow over to Bonds/Treasuries.  MBS is currently Up about 45bps, after it closed Up 63bps yesterday.  This means that over a 2 day period that Mortgage Rates improved by approximately a point; so, a rate that was quoted at 1 point on Friday, then should be at No Points today.  It's also, at least approximately .5% better in the rate too.  Meanwhile, Yields dramatically dropped down to 1.72%.  This is after it touched on the 2.0% level about a week ago.

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.