Tuesday, April 26, 2022

 http://MikesDailyMarketReport.com:  Durable Goods improved by 0.8% in March.  We have 2 Home Price Indexes (HPI) for February being released today.  The first is Case Shiller HPI, which measures the 20 largest Metros in the US, rose to 20.2% YoY; and the FHFA HPI, which measures homes with Conforming limits, rose to 19.4% YoY.  Consumer Confidence was revised from 107.2 to 107.6 in March, so it went down to 107.3 in April based on the revision.  Similarly, New Homes Sales revised their data from February from 772k seasonally adjusted units to 835k, which it dropped down to 763k in March (again, based on the higher revision from prior month).  Meanwhile, Investors continue to review the Q1 Corporate Earnings releases, which this week is pack full of large corporations, including many of the FAANG companies.  They're also, observing the current situation in China (with all the lockdowns), which will have a deep impact with the global economy.  Stocks are down today (after making  a big turn-around to positive territory yesterday).  MBS closed off from their highs yesterday to around +45bps; and currently their off from their earlier highs (around 16bps at time of this recording).  Mortgage Rates are showing some improvement from yesterday's rate sheet.  Yields just stepped down about a point to 2.76%.

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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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