Daily Market Report 10/13/20

 http://MikesDailyMarketReport.com: The Consumer Price Index, or CPI, rose only 0.2% in September, as did it's Core CPI; however, it's YoY rose from 1.3% to 1.4% and it's Core remained Unchanged at 1.7% YoY. Stocks started the Morning in Positive Territory, as Q3 Corporate Earnings Reports begin to be released.  Today, we're seeing a lot of Banks and Financial Institutions releasing their's.  Johnson & Johnson paused their vaccine trials, as they experienced some issues.  Apple and Amazon begin their special events today, as Apple is set to announce their new 5G capable iPhones and Amazon begins their 2 day Sales Event, Prime Day!  MBS had a Bond Rollover on Friday, which is why the chart looks like it worsened; but in reality, it improved by 18bps so far this morning.  The Rollover is simply a reset in pricing, as October's MBS are packaged to be sold in the Market; and now we begin November's batch of MBS.  Yields have slipped below it's Technical level and approaching the next level below it.  It currently sits just under 0.74%.

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 either direct message me, or visit http://michaelb.swmcretail.com

Daily Market Report 10/9/20

 http://MikesDailyMarketReport.com: The Wholesale Inventories rose 0.4% in August.  Stocks are in Positive Trading on continued optimism of another Stimulus package.  The talks are ongoing and seem to be mixed; however, this isn't affecting the optimism by the Investors.  MBS opened below the 25- and 50 DMA and have crept up higher, but it's still Down 2bps from yesterday's close.  Yesterday, the MBS lost more ground and closed just above it's 25 DMA.  This combined loss of support has led Lenders to price Mortgage Rates a bit higher today.  Yields are testing both it's floor and ceiling and moving within it's range.  It's currently at 0.77%.

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 either direct message me, or visit http://michaelb.swmcretail.com

Daily Market Report 10/8/20

 http://MikesDailyMarketReport.com: Initial Jobless Claims rose this week to 840k; up from last week's initial of 837k, which was revised a bit higher to 849k.  Stocks are in Positive Territory, as Investors are feeling more renewed optimism on some sort of Stimulus package coming sooner, than later.  MBS started the morning higher, but has pulled back some; and is Down 2bps.  Mortgage Rates remain Unchanged.  There are some possible positive signs developing for some improvement (see video on that).  Also, Yields are being held in check with it's Technical level (just under) the 0.79%; and it's currently at 0.77%.

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 either direct message me, or visit http://michaelb.swmcretail.com

Daily Market Report 10/7/20

 http://MikesDailyMarketReport.com: The only economic data to report will come out at 11am PST, which is the Meeting Minutes from the FOMC last month.  Stocks rebounded from yesterday's close; and are currently Up today.  Last night, about an hour before Market close, President Trump tweeted out that he instructed the Republican Senate to halt negotiations with the Democrats on a second Stimulus package until after the election; and accused them of dealing in bad faith.  However, a few hours later (after Market close), he tweeted that he'd be more than willing to send out individual Stimulus components (including the $1200 individual checks, funds for airlines and replenishing PPP).  This reversed the Market Sentiment overnite to this morning's opening.  Also, Investors will be watching Big Tech (namely the FAANG) stocks, as a critical report was released by the House Judiciary Anti Trust, Commercial and Adminstrative Law Sub Committee regarding them as Monopolies.  MBS started the morning lower; however, it has improved to being Down 14bps from yesterday's close (yesterday, after the tweet, it jumped Up and closed +23bps).  So, Mortgage Rates remain Unchanged from yesterday's pricing, except for Lender improved pricing at the end of the day.  Meaning, Mortgage Rates are a bit higher from yesterday's close (after late Market improvement), but the same pricing we saw for most of the day yesterday.  Yields are back Up this morning too; and sit at 0.77%.

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 either direct message me, or visit http://michaelb.swmcretail.com

Daily Market Report 10/6/20

 http://MikesDailyMarketReport.com:  This week is light for economic data, which we have none to share today.  Stocks are currently in Negative Territory, as Fed Chair Powell presented a speech this morning and reiterated the Fed's stance on more stimulus being needed from Congress; and it's better to give too much, than not enough.  Otherwise, the economy will grow more slowly compared to receiving more stimulus; and more businesses may close and/or file for bankruptcy.  MBS is fighting to stay above it's double floor of support (25- and 50 DMA); and currently Up 2bps.  There's a lot of uncertainty in the Market, as the long wicks on both ends of the candle indicate.  Mortgage Rates remain Unchanged from yesterday's close.  Yields broke above a few Technical levels yesterday and sitting at 0.78%.

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 either direct message me, or visit http://michaelb.swmcretail.com

Daily Market Report 10/5/20

 http://MikesDailyMarketReport.com: The ISM Non-Manufacturing PMI dipped a little in September, as it went from 57.8 to 56.9.  This is still in expansion territory!  Stocks are Up, as it is being reported on President Trump's recovery from COVID is improving, and he may be released from Walter Reed today.  Investors are reviewing the Election Polls and any hope for a Stimulus Package to be done soon.  Meanwhile, MBS has Dropped 22bps and have been testing it's double-layer of support (25- and 50 DMA).  This will tend to lead to a little bit higher Mortgage Rates today (usually about 0.125% to the rate).  Yields have skyrocketed above another Technical level and sit at 0.76%.  We'll see if they can hold this level.

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 either direct message me, or visit http://michaelb.swmcretail.com

Daily Market Report 10/2/20

 http://MikesDailyMarketReport.com:  The Jobs data was a bit disappointing today, as the BLS reported that only 661k jobs were created in September.  Even though, the Unemployment Rate dropped down to 7.9%, the numbers indicated that fewer people are participating in the Labor Market, as the Labor Participation Rate dropped a bit.  The Average Work Week slightly gained from 34.6 hours per week, to 34.7 in September; and the Average Hourly Earnings rose only 0.1%.  However, Consumer Sentiment rose from 78.9 to 80.4 in September.  Lastly, Factory Orders rose 0.7% in August.  Stocks are Down on the news of POTUS and FLOTUS' recent diagnosis with COVID.  Investors will reevaluate if this might impact the upcoming election.  Also, they're still waiting for another Stimulus package to be agreed upon and implemented, in order to move the economy forward.  Meanwhile, MBS is Down 9bps.  They were up ealier in the day, so the East Coast Lenders may be poised to reprice for the worse; while the West Coast should remain Unchanged.  This shift happened as news broke about POTUS and FLOTUS.  Yields are climbing, and are currently sitting at 0.70%,

Sorry for being MIA the past few days.  Had some personal things to take care of.  I will continue these videos, but for the next week, they will be out a little later than normal.  Afterwards, it should go back to normal.  Sorry, for any inconveniences!

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 either direct message me, or visit http://michaelb.swmcretail.com