Wednesday, March 16, 2022

Daily Market Report 3/16/22  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%.

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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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