Daily Market Report 11/10/20

 http://MikesDailyMarketReport.com:  No economic data to report today.  Market will be closed tomorrow, so next report will be Thursday.  Stocks are in Mixed Trading, as the NASDAQ being the lone index in the Red.  Investors are re-evaluating their positions in the Market, as cases of COVID are increasing in many areas.  The vaccine was good news, however, it will take months for it to be accessable.  Meanwhile, MBS had a Bond Rollover, which occurs monthly.  This is why it appears lower on the chart, but pricing hasn't been affected.  It's simply a reset for MBS.  MBS pulled back yesterday, as it faced -63bps, then it closed -44bps.  Most lenders didn't change their pricing, but you may see that slight improvement today.  We're currently Up 5bps; and on the chart, sitting just below it's 100 DMA.  Yields are trying to break above it's next Technical Level, but it seems to be holding.  It's currently sitting at 0.95%.

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

Daily Market Report 11/9/20

 http://MikesDailyMarketReport.com: There are no economic data to report.  There's only some Treasury Auctions scheduled for today.  Most of the data will be reported on Thursday and Friday of this week.  The Market will be closed on Wednesday, due to Veterans Day.  Stocks are WAY Up this morning, as the DOW has topped 1k.  The Market is being driven primarily due to updates on COVID-19 vaccinations, as Pfizer and BIO N Tech reported high success rates on their late stage testing.  I believe Pfizer reported 90%, which 50% is considered ok.  Also, many pundits are counting the elections to Biden, as these are just the forecasts, not the actual certifications.  We'll most likely see the outcome in a few months, assuming it will go to the Supreme Court.  Meanwhile, the Stocks big surge has pulled investment dollars from Bonds, as MBS is Down 63bps; which means that Mortgage Rates has seen worse pricing today.  Yields have shot all the way Up to .95%.

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 11/6/20

 http://MikesDailyMarketReport.com: Today is the big day for Jobs Data, which the Bureau of Labor Statistics released thier reports.  The Average Earnings modestly rose 0.1% in October.  The Non-Farm Payrolls rose by 638k new jobs, while the Unemployment Rate dropped from 7.9% in September to 6.9% in October.  This can be a little misleading, as we saw an uptick in people leaving Unemployment for part-time work.  We saw some of this after the Credit Crisis.  Lastly, the Wholesale Inventories rose by 0.4% in September.  Stocks are Up again today, as we go thru more Election saga.  The Fed provided their announcement yesterday, which didn't change much, but they did reiterate the necessity of rolling out another Stimulus program, as many people are really struggling.  MBS is currently Down 16bps, so Mortgage Rates have worsened (about an 0.125% to the rate).  While Yields skyrocketed past it's 25 DMA and next Technical level to 0.82%.

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 11/5/20

 http://MikesDailyMarketReport.com: Last week's Jobless Claims were revised higher by 7k (758k), and this week's report came in at the same as last week's initial number of 751k.  Productivity for Q3 preliminary numbers show a 4.9% increase.  Q2 had a revision to 10.6%, from 10.1%.  Q3 Labor Costs had preliminary numbers reflecting a loss of 8.9%; after it's Q2 was revised lower from 9.0% to 8.5%.  Stocks continue their Positive run, as more investors sink in more investment dollars that sat on the sideline due to Uncertainty in the Markets, but it seems to becoming a bit clearer now, as more states reveal their tallies; however, we do expect a final announcement to be delayed, as these results will be contested in the courts.  The Fed will be wrapping up their FOMC today and provide their announcement later today.  We don't expect any movement from them at this time.  More focus has been placed on the election results.  MBS continue it's rise, as it's Up 13bps currently.  Mortgage Rates will look a little nicer today!  Yields started lower, but has risen a little bit today; and is currently sitting at 0.76%.

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 11/4/20

 http://MikesDailyMarketReport.com: This week, we'll see Jobs data from Octobers numbers.  Today, we have the ADP Payroll, which (very much) underwhelmed us with 365k new jobs in the Private Sector.  This is after 749k was reported in September; and forecasts called for 650k in October.  The ISM Non-Manufacturing PMI Index dropped from 57.8 in September to 56.6 in October.  The Markit Services showed a completely different story, but we didn't have it on our calendar to report the actual number; but, it indicated that it rose in October.  The ISM is a more closely watched index, compared to the Markit index.  Stocks are WAY Up this morning, as Investors become clearer on possibility of economic stimulus; but there's some Uncertainty, as to whom will win the Presidential race.  The Senate seems to be intact with Republican control (even when they lost one seat).  This has been the stalemate for a much larger stimulus package, as the Senate wants a smaller package.  This has created more certainty for the Markets.  The House appears to still be under control by Democrats (even though they lost a few seats).  The counts are too close to call for a number of states for the Presidential election, so it will take longer to get any results; and this will most likely result in legal battles, which will delay the results of a winner.  Meanwhile, we are still receiving Corporate Earnings Reports, which have been decent; but nothing of note to report in this video.  The Fed begins their 2 day meeting, which was delayed by a day, due to the Election yesterday.  The FOMC will provide their announcement tomorrow, which we don't anticipate anything new from them.  MBS has leaped UP 56bps on the election results, which means that you'll find a fairly nice improvement in the Mortgage Rates today.  Yields have fallen considerably, Down to 0.77%, which they were Up to approximately 0.90%.  This is mostly the result of the election on the Senate seats, as it will appear that the next Stimulus won't be as large as what the House was offering.  Having less debt, is lowering the yields!

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 11/3/20

 http://MikesDailyMarketReport.com: Factory Orders rose by 1.1% in September.  Stocks are Up on upcoming US Election today and Q3 Corporate Earnings continue to go well.  MBS is Down 8bps so far this morning, after losing it's momentum yesterday.  Lenders repriced for the worse yesterday and have reported even worse pricing than yesterday's close.  One silver lining is the possibility of a contested election results, which will create uncertainty in the Market.  This could potentially help Mortgage Rates, at least temporarily.  We'll watch for the election results.  Meanwhile, Yields are pushing against another Technical Level, which we haven't seen since March.  It's sitting around 0.89% now.

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 11/2/20

 http://MikesDailyMarketReport.com: The ISM Manufacturing finished October at 59.3 (vs. September at 55.4).  Quite a Jump!  And great news for Manufacturing sector!  However, Construction Spending came in only Up .3% (wich forecasts calling for 1.0% increase).  Investment Dollars appear to be coming back into the Markets, after last week's selloff.  Stocks are Up this morning on the ISM report and Q3 Corporate Earnings.  Elections are tomorrow, and have Investors worried over a delayed winner.  This could lead to a drop in stocks in the coming days, if this occurs; however, this may help MBS and Mortgage Rates!  Currently, MBS is Up 16bps (topping both it's 25- and 50 DMA).  Lenders will provide better pricing for Mortgage Rates this morning!  Yields have fallen Down to 0.83%.

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