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.
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