Monday, March 28, 2022

Daily Market Report 3/28/22  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.

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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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