Daily Market Report 7/18/22

 http://MikesDailyMarketReport.com:  NAHB Housing Market Index dramatically dropped from 67 in June to 55 in July.  This index gauges the confidence level for Home Builders, which is extremely low in July, as this will most likely lead to a dramatic drop in Permits and New Home Sales, as Home Builders lose confidence.  However, Investors are happy with the Q2 Corporate Earnings, so Stocks are Up again today.  This week will mostly show Housing data and the most impactful will the ECB meeting on Thursday when they're expected to hike rates for the first time in 11 years.  MBS started the morning way down (down about 30+ bps), but have pulled back after testing the 25 DMA floor; and is now currently Down 9bps.  Mortgage Rates were worse, but if this improvement trend continues, then we may find Lenders to re-price their ratesheets for the better and pull Mortgage Rates closer to the same pricing as found at the close of Friday.  Yields are off from earlier highs when they tested it's 50 DMA and is currently at 2.97%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/15/22

 http://MikesDailyMarketReport.com:  Retail Sales grew by 1.0% in June.  A report that we don't normally pay much attention is the Import Prices, which showed an increase of 0.2%.  I'm looking at it now because the Fed will be convening for their 2 day event in about 1.5 weeks and could show inflation data.  This was very tame, so it's good news.  To move on, we got more good news with manufacturing in the NY region, as the Empire State Index rose to 11.1 in July (after a few months contracting).  But Industrial Production (of course, this is for June; as the previous is more current, but just a micro view) contracted by 0.2% in June.  The Consumer Sentiment slightly improved in July, as it rose from 50.0 to 51.1.  These are the lowest positioning in about 40 years.  This seems to be a result that consumers are feeling some slight improvement with inflation; and may be taking a "wait and see" approach".  Both Markets are reacting positively to the economic data.  Also, today's release of corporate earnings had a bit more positive note, so it's helping with stocks.  However, the possibility of a 100bps rate hike at the July FOMC was reduced; which did receive some help from comments by Fed Members.  Meanwhile, MBS is back above the 25 DMA and have been ranging between 14-19bps while doing this video.  Mortgage Rates did improve from yesterday's close, which should put our pricing closer to Wednesday's close (similar pricing).  Also, Yields have slid down to 2.93%, adding less pressure to MBS.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/14/22

 http://MikesDailyMarketReport.com:  Initial Jobless Claims continue to increase each week, as this week's report has 244k new filings for benefits.  However, the Continuing Claims did shrink from last week.  The Producer Price Index (PPI), which measures inflation on the Wholesale side, reported a 1.1% increase in June.  However, the Core PPI (excludes food & energy) rose only 0.4% and it's YoY dropped from 8.5% in May to 8.2% in June.  Both Markets are down today!  The concern that the Fed may increase it's rate hike from 75 bps to 100 bps increased to 75% chance and is having a negative reaction with the Markets.  There were a few Fed Members speaking today, but none of them dismissed the sentiment; and indicated that they will review data between now and then before making any final decisions.  Also, today is the first day for Q2 Corporate Earnings to be reported, which didn't go well for many of the large US Banks.  MBS is currently Down 20bps and sitting south of the 25 DMA.  Mortgage Rates are a little worse today (vs yesterday's close).  However, it did improve some because the Market was down much more earlier on; and since then, it subsided a bit, which led Lenders to reprice for the better, but not enough to be unchanged or better than yesterday's pricing.  Yields had spiked to 3.03%, but has since come down to 2.96%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/13/22

 http://MikesDailyMarketReport.com:  The CPI report came out a bit hotter for June than expected.  The CPI (headline number) went up 1.3% (higher than the 1.1% forecasts); and it's YoY jumped from 8.6% in May to 9.1% in June.  However, the Core CPI (excluding food & energy) rose 0.7%; but it's YoY dropped from 6.0% in May to 5.9% in June.  This was considered the BIG impactful report for this week, as it sent both Markets last month into a tailspin.  Stocks are still in Negative Territory; however, MBS and Treasuries have rebounded from it's initial reaction.  MBS was below it's 25 DMA and down 58bps, only to rebound to currently Up 2bps (and back above the 25 DMA).  This has led Lenders to reprice for the better; however, the better pricing brings us to Unchanged pricing from yesterday's close (as we had worse pricing early on this morning).  Similarly, Treasuries are off of earlier highs (3.07%) to currently 2.94%.  The rebound in pricing, as I'm hearing is that Investors are thinking that inflation has peaked, which the YoY drop in Core CPI may have provided this assurance.  The Investors will watch for the upcoming (starting tomorrow) Q2 Corporate Earnings reports, which will have major implications with the Markets.  Also, to note, that Investors raised the odds of the Fed raising the Fed Funds rate by 100 bps at it's July meeting from 6% to 42%.  It's currently expected to be at 75bps, but the inflation data may have altered those plans!  Another reason for the sentiment with Investors is they know the Fed will continue to raise interest rates in 2022, but they also feel that the Fed will reverse course in 2023, as the economy will slow and chances of a recession is a strong possibility.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/12/22

 http://MikesDailyMarketReport.com:  The NFIB Small Business Index continued it descent to 89.5 for June.  This is lowest since the height of the Pandemic; and prior it was just after the Great Recession in 2013.  Inflation is the biggest concern for Small Businesses.  This index is important because Small Businesses make up the bulk of employment in the US; and if they don't have confidence, then there will be less jobs available.  The 10 year Treasury Auction was much weaker than expected, so the Bond Market quickly changed it's direction.  MBS was up around 20bps early on, but is now down to about 3bps.  It's currently sitting between it's 25 DMA and 50 DMA.  Mortgage Rates were better earlier on this morning, but many Lenders are repricing for the worse to Unchanged levels (from yesterday's close).  Yields are off from it's lows (2.90%) to about 2.96% now.  Tomorrow, the CPI report will be released and will have a big impact with the Markets.  Investors are hoping to see inflation peak.  Last month, it was hotter than expected and both Markets tanked, as a result.  Then on Thursday, we'll get inflation data on the wholesale sector (PPI) and first release of Corporate Earnings Reports for Q2.  Investors will be closely watching these reports.  So, stay tuned!

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/11/22

 http://MikesDailyMarketReport.com:  There are no economic data to report for today, but the most impactful data to be reported this week will be the CPI report on Wednesday.  The last report didn't bode well for the Markets; but the PCE came in a bit tamer (and is the Fed's favorite gauge for inflation) the other week, so it will be interesting to see if the CPI report will come in a bit tamer too.  Renewed concerns over global supply issues and inflation arose today, as China announces more lockdowns for areas with a pickup in COVID cases, as they aim for 0 tolerance.  They make up approximately 25% of global manufacturing, so this will most likely hurt global supplies and push inflation a bit further.  Stocks are down today, as investment dollars flow over into Bonds/Treasuries.  This is also a bit of a spill over from the EU Markets as their Bond Market rallied a bit today too.  MBS is currently Up 33bps, as Mortgage Rates show some improvement over Friday's close.  They move back above the 25 DMA after closing below it on Friday.  Similarly, Yields dropped below 3.00% and currently sit at 2.99%.  On Friday, it touch the 25 DMA, but remained below it.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/8/22

 http://MikesDailyMarketReport.com:  The waiting is over for this week's big report, Non-Farm Payrolls (from the Bureau of Labor Statistics, or also referred as BLS).  The Non-Farm Payrolls came in much hotter than expected to 372k in June, as forecasts were calling for 268k.  Unemployment Rate remained Unchanged at 3.6%.  Average Earnings rose 0.3% while Average Workweek Hours remained Unchanged at 34.5 hours.  Lastly, the Wholesale Inventories rose 1.8% in May.  Both Stocks and Bonds are reacting negatively to the released data today.  Stocks are down because it means the Fed will most likely continue down the path aggressively to fight inflation, which in cause will slow the economy (possibly recession).  For Bonds, it's 2 fold.  Generally, good data is bad for bonds, as it's typically a flight to safety for investment dollars (when economy is bad, then money moves over into the Bond Market); and the path for the Fed Policy being the other.  MBS is currently Down 33bps, so Mortgage Rates take another negative hit today.  We lost much of the ground that was gained last week, as MBS is now breaking below it's 25 DMA.  Similarly, but inversely, Yields have climbed all the way to just below 3.10% (as it touched off 2.75% earlier this week).  It's touching off, just below it's 25 DMA currently.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/7/22

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims rose by 4k from last week's number to 235k.  Also, the Continued Claims picked up a bit; and the Challenger Layoff (announced upcoming layoffs) spiked by almost 12k from last report.  Tomorrow will be the Jobs data from the Bureau of Labor Statistics, which will carry a bit of weight this week.  Investors will be watching fairly closely tomorrow, as there is a lot of concern of a possible recession.  Today, they're feeling a bit more optimistic, as investment dollars move over to equities.  As a result, MBS is currently Down 11bps, but was down by approximately 19bps.  Pricing for Mortgage Rates will be a little worse compared to yesterday's.  The good news is that the 25 DMA seems to be holding as a floor for us, which can bode well for Mortgage Rates.  Meanwhile, Yields jumped up to just under 3.01%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/6/22

 http://MikesDailyMarketReport.com:  The ISM Non-Manufacturing PMI dropped to 55.3, which was better than the forecast of 54.3.  Anything above 50 with this index indicates expansion.  The FOMC Minutes from it's June meeting were released today.  It basically reiterated what the Fed has been saying all along.  The 50 or 75 bps rate hike is on the table for it's July meeting.  Also, if inflation persists, then they may take more restrictive measures.  Both Stocks and Bonds were in negative territory prior to the release of the Minutes, but Stocks started to improve after the release, while Bonds sank further.  This was mostly to due liquidity issues with the Bond Market, as investment dollars flowed back into the Equities Market.  MBS is currently Down 61bps, so Mortgage Rates worsened today; and is now sitting near it's 25 DMA again (after touching on it's 50 DMA).  Yields jumped up to 2.91% (after being down to around 2.75%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/5/22

 http://MikesDailyMarketReport.com:  Factory Orders rose 1.6% in May; and it's April number was revised higher, from 0.3% to 0.7%.  This will be interesting to follow, as much of the manufacturing data have been contracting.  This week will feature Jobs data; however, one Jobs report will be placed on hold for a bit, as they retool it.  That will be the ADP Private Payrolls, which is typically the first of the Jobs data and released on Wednesday.  MBS is benefitting from a shift in investment dollars from the Equities Market, as Investors are concerned over recession fears.  The price of oil dropped below $100 and the US Dollar is stronger than the Euro.  So, MBS is currently Up 28bps and challenging it's 50 DMA now.  This improvement means there is improvement for Mortgage Rates, as they improve by approximately 0.125% to the rate.   Yields have slid down to 2.82% now and it's now approaching it's 100 DMA.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/1/22

 http://MikesDailyMarketReport.com:  Construction Spending dropped 0.1% in May; however, it's April data was revised higher, from 0.2% to 0.8%.  The ISM Manufacturing PMI dropped from 56.1 in May to 53.0 in June; coming in under forecasts of 54.9.  Anything above 50 with this index indicates expansion.  So, many PMIs were released globally (Asia and Europe) today, which seems to be a global trend that these are slowing down (some even contracted).  This has Investors worried, as the Fed is on trajectory with a very hawkish policy path, which they feel will lead us into a recession (if we're not already in one, as some believe).  As a result, investment dollars are flowing back into Bonds/Treasuries for safe keeping (or "flight to safety").  MBS closed Up 42bps (off from earlier highs), which set them up above the 25 DMA, but below 50 DMA (which they challenged earlier on).  This means that we could see an improvement of approximately a 0.25% to our Mortgage Rates today.  Yields settled in just under 2.89%; and off from it's earlier lows.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/30/22

 http://MikesDailyMarketReport.com:  The Personal Consumption Expenditure (PCE) released it's inflation data today.  This index is the Fed's favorite gauge for inflation, so it holds a lot of weight (in terms of impact with Markets).  The PCE rose 0.6% in May, while it's YoY remained Unchanged at 6.3%.  The Core PCE (excluding food and energy; and the data that the Fed uses) rose 0.3% while it's YoY dropped 0.2% to 4.7% in May.  Personal Income rose 0.5% in May; and Consumer Spending rose only 0.2%.  Jobless Claims rose 2k last week to 231k while the Continued Claims rise, as well.  Lastly, the Chicago PMI, which measures manufacturing in Chicago region, dropped from 60.3 in May to 56.0 in June.  The Inflation data was good news for the Markets, as it may indicate it may have peaked.  We're seeing a slowdown in the economy, as Jobs are dwindling and manufacturing is dropping.  These are all signs of a possible recessionary period coming, if we're not already there.  MBS was very pleased with the inflation data, as it finally hits the 25 DMA and is currently Up about 33bps.  This translates to improved pricing for Mortgage Rates today.  Yields dipped below the 3.0% level and is currently just under 2.98%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/29/22

 http://MikesDailyMarketReport.com:  The Q1 GDP released it's final revision, which dropped another .1% from the previous revision; and the final is a drop of 1.6% for Q1.  MBS is Up today, which it was around 17bps in the beginning of the video, then it jumped up to 25bps.  If this continues, then we could see more price improvements; but overall, Mortgage Rates improved from yesterday.  Speaking of yesterday, it rebounded late in the day to closing up 3bps, after being in negative territory all day.  Improved inflation data out of Germany started a little rally with Euro Bonds, which trickled over to the US.  Sentiment is feeling optimistic ahead of the PCE release tomorrow; however, the CPI sorely disappointed about 2 weeks ago.  This report will have greater impact, as it's the Fed's favorites gauge for consumer inflation.  Meanwhile, many of the global central bankers are speaking at a Forum (including Powell from US and Lagarde from the EU) have the Markets in a better mood too, as they discuss how they're handling the global inflation.  Yields have slid all the way down to 3.11% and coming closer to it's 25 DMA again.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/28/22

 http://MikesDailyMarketReport.com:  The Case Shiller Home Price Index (HPI), which measures home prices in the 20 largest metros in US, rose 1.8% in April while it's YoY rose to 21.2% (after March lower revision from 21.2% to 21.1%).  The FHFA HPI, which follows conforming loans, rose 1.6% in April while it's YoY dipped to 18.8% (from 19.1%).  Lastly, the Consumer Confidence continues to drop, as it dipped all the way to 98.7 in June.  This is important because if Consumers aren't feeling good about the economy, then they will stop buying, which in turn helps the economy to continue to move along; but the high inflation (namely food and energy) are eating away at many peoples' ability to buy any of the extras in their life (and thus not feeling good about it).  Stocks started up earlier on news from China on more loosening of COVID restriction; however, that changed after the US data were released.  NY Fed Williams noted that he feels the economy will slowdown, but won't go to recession.  However, there are some economists already stating that we may already be in a recession; and many more are concerned with those very prospects possibly happening.  MBS started lower today, but seemed to maintain between -8 and -11bps for mid-day; and toward end of the day has slightly improved to -5bps.  We may not see any changes with Mortgage Rates today, but there may be some changes with the pricing.  The 3.20% seem to be holding the Yields and is currently just under 3.19%.  Remember, the  PCE report will be released on Thursday.  The CPI report that was released a few weeks ago have a severely negative effect with the Markets.  The PCE carries a bit more weight, as it's the Fed's favorite gauge for Consumer inflation.  So, be prepared ahead of time!

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/27/22

 http://MikesDailyMarketReport.com:  Durable Goods Orders rose 0.7% in May, exceeding expectations of 0.1%.  Pending Home Sales broke it streak of declines in May, as it rose by 0.7% to 99.9k annualized units.  There are a number of important data to watch this week, but none more important than Thursday's PCE release.  PCE is the Fed's favorite gauge for inflation, which carries a bit more weight than the CPI, which the Markets reacted quite negatively a few weeks ago with it's release.  Both Markets are Down today, as MBS started the morning down around 30bps, then it subsided, but when the poor auction results were released around 10am PST for the 5 year Treasury, then it dropped back down toward the lows of the day (about -30bps), as Mortgage Rates worsen by approximately .125% to the rate.  Yields are testing a 3.17% ceiling, as they're currently just under 3.20%, which is another ceiling.  Let's hope this holds!

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/24/22

 http://MikesDailyMarketReport.com:  New Homes Sales beat expectations for May, as it jumped up 10.7% to 696k seasonally adjusted units.  However, Consumer Sentiment dipped down to 50.0 in June.  A few bits that we don't normally look at, but Fed Chair Powell made a comment about it, which raised it's importance this week.  The comment was regarding the Consumer Sentiment toward inflation, or outlook of inflation over a 1 year and 5 year period.  Both were recently lower in June, compared to May's outlook.  The 1 year went from 5.4% to 5.3%; and the 5 year went from 3.3% to 3.1%.  This helped to ease concerns for many investors, as Stocks improved yesterday and have continued this trend today.  As a result, money has flowed over to Equities from Bonds.  Yesterday, MBS was up 77bps, and closed only up 25bps.  Pricing for Mortgage Rates improved yesterday (from Wednesday's ratesheet), but did lose some of the better pricing, as the Market deteriorated.  Today, MBS is currently Down about 17bps, so again Mortgage Rates worsened (compared to yesterday's close).  Meanwhile, Yields spiked upwards to just under 3.13%.  Yesterday, it was down to around 3.03%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/23/22

 http://MikesDailyMarketReport.com:  The weekly Initial Jobless Claims dipped to 229k last week, after last week's report was revised higher, from 229k to 231k.  Also, there was a slight increase to the Continuing Claims from last week.  The Markit PMI released their 2 reports (Manufacturing and Services) for the month of June, which anything above 50 is considered expansion.  The Markit Services PMI dropped from 53.4 in May to 51.6 in June; and the Markit Manufacturing PMI dropped from 57.0 in May to 52.4 in June.  Fed Chair Powell wraps up his 2 day testimony before the House Committee today.  Investors continue to be concerned that the hawkish Fed policy will force the economy into a recession.  There have been recent signs that the economy may not be as strong as the Fed has been stating.  And the Investors recognize this.  Meanwhile, MBS received a boost early on after poor PMI data from Europe sparked some Bond buying in Europe, which trickled over to the US.  We're currently down from earlier highs (over the past hour), which was up to 77bps; however, while I was doing this video, we were ranging between Up 33bps to 50bps.  Overall, pricing for Mortgage Rates are doing better than yesterday, which closed up 45bps.  We're getting closer to getting back to the 25 DMA in both the MBS and Yields.  Yields dropped down to just under 3.05%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/22/22

 http://MikesDailyMarketReport.com:  There's no notable items on the Economic Calendar today, but there was some positive from the MBA's Mortgage Loan Activity, which reported an increase of Mortgage Loan Origination with Purchase Transactions.  Fed Chair Powell begins his 2 day Congressional Testimony today.  His statements are pretty much the same.  He is talking very hawkish, but also trying to assure the Markets that the economy is doing well and it can handle higher rates.  Meanwhile, Investors are still concerned over the possibility of an upcoming recession due to the Fed Policy Path.  Stocks are down today, as the Money is flowing back into the Bond Market, as a Flight to Safety.  The price of oil has recently subsided dramatically.  It was around $122/barrel about a week ago and now it's down to about $106/barrel today.  Part of this is chatter with the Whitehouse regarding the possibility of suspending the federal gas tax for 3 months and encouraging state level to do so, as well.  MBS closed yesterday in almost Unchanged levels (down 3bps) after being deeper in the red for most of the day.  Today, it's Up about 48bps (off a little from earlier highs); so, Morgage Rates have improved today.  Also, Yields dropped a bit too, as it's sitting around 3.16%.  It closed yesterday at 3.28%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/21/22

 http://MikesDailyMarketReport.com:  Existing Home Sales dipped 3.4% in May to 5.41 million seasonally adjusted units.  There's not a lot of data being released this week on the Economic Calendar, so most impact will come from headline/geopolitical news or investor sentiment.  Stocks are Up today, as investment dollars continued to flow from Bonds to Equities.  MBS started the morning down much lower and is currently Down 16bps, as Lender ratesheets have worsened since Friday's Market close.  Yields have shot up to just under 3.30% today.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/17/22

 http://MikesDailyMarketReport.com:  Industrial Production only increased by 0.2% in May, below forecast of 0.4%.  Also, Leading Indicators contracted by 0.4% in May, which sets off 2 months in a row with contraction.  Stocks are Up today, as Investors are buying on the dip; and money is flowing out of Bonds, as a result.  Investors are trying to acclimate to a new environment, which easy money will be gone; and Fed is being aggressive with their attempts to reduce Inflation back down to 2% level.  Meanwhile, mixed data shows that maybe economy might head into a recession.  As a result, we're currently seeing MBS Down 25bps, after seesawing earlier on.  This means that Mortgage Rates worsened a little bit in comparisons to those being quoted after the Market's close yesterday.  Yesterday, the Market ended up closing Up 5bps, after trading in Negative territory for most of day.  Yields slid quite a bit yesterday, as they're currently hanging around the 3.24% level today.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me 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.