Daily Market Report 1/12/21

 http://MikesDailyMarketReport.com:  We don't have any economic data to report today; however, there will be a 10 year Treasury Auction, which can impact the Markets especially; as Yields have been rising dramatically since last week amidst the big Selloff with no end yet in sight!  Stocks are Down this morning on much of the same concerns as yesterday.  Meanwhile, MBS continues it's heavy Selloff!  It's off from it's earlier lows, but still Down 17bps.  Lenders are already pricing Mortgage Rates higher.  We're down approximately 1.5 points (or 150bps), which translates that No Point Loan last week will now cost you approximately 1.5 % of the loan amount to obtain the same rate.  Yields continue their meteoric rise with no Technical levels slowing them down.  They're now up just under 1.18%.

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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.

Daily Market Report 1/11/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today.  Stocks are Down today after last week's Rally Mode.  After last week's Protests, Investors are a bit concerned that Congress will put the extra stimulus on hold in lieu of President Trump's Impeachment hearing, which  may take hold this week.  Meanwhile, MBS has continued their decline (currently Down 13bps), which will lead Lenders to come out with slightly higher Mortgage Rates this morning (compared to last Friday's close).  Yields have continued it's rise, which it normally goes in opposite direction of MBS; and is currently sitting just a hair under 1.13%.

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 1/8/21

 http://MikesDailyMarketReport.com: Today, we receive the data from the Bureau of Labor Statistics (BLS) regarding Jobs data.  We'll start off with the Average Earnings, which rose 0.8% in December.  The Non-Farm Payrolls had a revision in November from 245k (initial report) higher to 336k; however, it reported a loss of 140k in December.  The higher revision for November helped some, but it didn't cover all the losses in December.  The Unemployment Rate remained the same at 6.7%.  Wholesale Inventories remained Unchanged in the month of November.  Stocks continue their rise today, as the indexes reach new Milestones.  Meanwhile, MBS is currently Down 25bps because Bond Traders are concerned over the Jobs data and that it will represent more Stimulus packages, which means more Government debt to pay for them.  Mortgage Rates continue to rise, as the MBS broke beneath it's 100 DMA, which we hoped (yesterday) that it would provide some footing, but the trend continues.  Meanwhile, Yields continue it's rise (and breaking above more Technical ceiling along the way).  The 10 year is currently sitting at 1.011%.

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 1/7/21

 http://MikesDailyMarketReport.com: The Initial Jobless Claims technically dropped by 3k to 787k people applying for Unemployment because last week's report was revised higher by the same amount.  Also, we're still seeing a positive trend that Continuing Claims is declining each week.  The ISM Non-Manufacturing PMI came in a little hotter in December, as it reported a 57.2 on it's index (up from 55.9 in November).  Forecasts were calling for 54.6.  Stocks are Up on the Congressional Confirmation of Biden's election results and was boosted by the positive reading in the Services Sector.  They're treading new Milestones.  MBS is Down 11bps and testing it's 100 DMA.  Lenders will be pricing Mortgage Rates a bit higher, which should be the trend going forward due to the Georgia Runoff results.  Yields have continued to rise, just under 1.08% and testing it's next Technical Ceiling.  Yesterday's move above 1% was the first since the start of the lockdowns last March.

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 1/6/21

 http://MikesDailyMarketReport.com: The ADP reported a decline of 123k jobs in the Private Sector for the month of December.  This is the first decline since the lockdowns began in March.  However, Factory Orders rose by 1.0% in November.  Stocks are Up this morning on news that there may be a Blue Sweep in the Georgia Runoffs.  Results are not yet final, but it's appearing that there may be a sweep.  The Uncertainty kept Stocks at bay for the past 2 months.  MBS is way down today; Down 31bps (dropping below it's 25- and 50 DMA and approaching it's 100 DMA).  Yields broke the Technical Ceiling and have risen above 1.0% since last March's lockdowns.  What does this all mean for Mortgage Rates?  They have gone up!!!  This is due to a one party control, which will be able to pass their legislation without any checks and balances.  This means that more debt (bonds and MBS) will be issued (supply/demand) to pay for their spending and printing of money, which will lessen the value of the dollar and raise inflation (enemy to bonds/MBS, as it erodes their value over time).

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 1/5/21

 http://MikesDailyMarketReport.com: The ISM Manufacturing PMI rose to 60.7 in December (beating forecasts).  Stocks are Up this morning, as Investors watch the Georgia runoff today; and determine which Political Party will control the Senate.  This is having the most impact with the Markets today.  The NYSE delisted 3 Chinese Telecoms today, which may have implications with US relations with China.  A few Fed Members made comments that had some impact with the Bond Markets, such as Fed's Bostic mentioning that if the vaccines and pickup in economy happens, then the Fed may "recalibrate"  it's Asset Purchases.  This comment led to a bit of a selloff in the Bond Market.  However, Fed's Meester mentioned that the Fed could continue it's current purchase thru 2021.  MBS is currently Down 16bps, which has led Lenders to price Mortgage Rates a little worse today (compared to yesterday).  The Georgia runoff will have a major impact with MBS Markets too!  If Democrats win and take Majority, then it is expected they will spend (thus more debt) and Mortgage Rates will worsen.  Yields have risen to 0.95% and on it's way to testing it's Technical ceiling.

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 1/4/21

 http://MikesDailyMarketReport.com: Construction Spending is the only economic data released this morning, which was slightly lower than forecasts at 0.9% for November.  We'll see jobs data this week.  Stocks are Down this morning, as we begin the first trading day of the year.  Investors are watching news on the Georgia Runoff, which we should receive results this week.  This will help to determine political power and what policies to be expected.  MBS started the morning higher, then it turned much lower; however, currently, it's just Down 2bps from our close last Thursday.  So, Mortgage Rates remain Unchanged.  Yields have slightly risen to 0.93%.

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.