Daily Market Report 10/12/21

 http://MikesDailyMarketReport.com:  No Economic Data to report today.  We have some Treasury auctions, which the 10yr performed well, as I was providing the video presentation; so, we may see some improvement soon.  This week holds inflation data, which the CPI is released tomorrow and the PPI is released on Thursday.  Investors are watching inflation and any news on improvement in the supply chain and jobs data, as the IMF recently downgraded their forecasts for these very issues; and as a result, stocks are Down today.  Meanwhile, before the 10 year Treasury Auction, MBS was down 8bps and Unchanged levels; but this wasn't enough for any change in Mortgage Rates.  Yields had dipped below 1.60% to 1.58%.  We're hoping to see it break below the 1.56% technical floor, so there's less pressure on MBS and we can see some improvements in Mortgage Rate again soon!

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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 10/8/21

 http://MikesDailyMarketReport.com:  Today is the big jobs data from the Bureau of Labor Statistics (BLS).  The average earnings rose 0.6% in September, which average work week rose to 34.8 hrs/week.  However, the Non-Farm Payrolls disappointed again, as only 194k.  There was an expectation of approximately 500k.  But, the August numbers were revised higher, from 235k to 366k; but this is still a far miss from it's expection of around 700k-900k.  On the flip side, we saw a drop in the Unemployment Rate  from 5.2% to 4.8%.  I think October will be interesting, as companies begin to layoff non-vaccinated employees, whom won't be on the Unemployment data.  Lastly, wholesale inventories continued their 1.2% trend for the 2nd month in a row for August.  Investors are Uncertain about the Fed's stand, as the Jobs data disappointed with huge misses for 2 months in a row; and we're entering the fall/winter period when people will be more indoors.  This latter comment is the concern for the possibility of another uptick with the delta/corona virus numbers, which again, may slow down the economy.  Meanwhile, Congress temporarily avoided a shutdown/default on debts when the Senate passed a temporary increase to the Debt Ceiling, which will be good until Dec. 3rd.  Like the Equity Markets, MBS is taking a bit of a beating (again) today, as it's currently Down 16bps.  Mortgage Rates rose, as a result.  The increase in Mortgage Rates is approximately .125% to the rate.  Also, Yields are rising again, to levels last seen in June.  It's up to approximately 1.61%.  This is adding pressure to MBS.  Investors appear to be uncertain, so they're pulling investment dollars out of both markets for the time being.

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 10/7/21

 http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped down to 326k this past week, as fewer people apply for first time unemployment numbers.  As indicated, it will be interesting to view these numbers in the near future, as many folks are holding the line against vaccinations and being fired.  These folks won't be factored into the unemployment data, as they won't qualify to receive benefits.  However, if you look at the Challenger layoffs for Sept, then you see a spike from 15.723 million to 17.895 million; so, nearly 2 million planned layoffs.  Stocks like the lower Jobless Claims, but are liking the temporary solution for the Debt Ceiling Crisis; which Democrats and Republicans agreed to extend the deadline to December while raising it approximately $480 billion.  Meanwhile, Putin had eased the Markets regarding the energy issues facing Europe and Asia; however, oil prices are continuing to rise (now up approximately $78/barrel).  All of this, has pushed MBS lower today (currently Down approximately 16bps).  Mortgage Rates are Up approximately by an .125%.  Yields are pushing against an important technical ceiling (around 1.56%); and is currently just under 1.57%.  MBS and Treasuries are pretty much illiquid, as investors are more buoyed by equities.

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 10/6/21

 http://MikesDailyMarketReport.com:  The first of the September Job Data was reported this morning, as the ADP announced a better than expected 568k jobs in the private payrolls were created in September.  This has investors on Wall Street thinking more about the upcoming Taper talk, which Stocks are in Negative Territory today.  It will be interesting to see how they view those people whom lost their jobs because they don't want the vaccinne and won't show up on the unemployment numbers.  Most likely will be more noticeable on the Labor Participation and U6 number.  Investors are also watching energy prices continue to rise; and Europe and Asia facing a bit of a crunch.  Meanwhile, MBS has decided to drop a bit more today, as we're currently Down 6bps (after closing -30bps yesterday).  Most Lenders will price worse today in their Mortgage Rates.  They should be a little worse today, or their pricing (depending upon Lender) is a little worse.  Yields is flirting with another ceiling, but is currently sitting between it's 2 technicals at 1.53%.

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 10/5/21

http://MikesDailyMarketReport.com:  Today, we received data in the services sector by ISM Non-Manufacturing PMI for the month of September, which rose from 61.7 in August, to 61.9 for September.  Anything above 50 is considered expansion.  This is helping stocks gain more footing in today's trading.  Starting tomorrow, we'll start seeing jobs data for the month of September, which will be our catalyst for the week, so stay tuned!  After yesterday's big selloff with equities, Investors are back to buying (as they say in the street, "you buy on the dip").  Meanwhile, MBS Market has become a bit illiquid, so it's taking a bit of a beating today.  It's currently Down about 20bps, which has led Lenders to price in worse pricing on their ratesheets and Mortgage Rates have risen today.  Also, Yields have spiked higher and has tested a new ceiling.  It's currently residing around 1.52%.

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 10/4/21

 http://MikesDailyMarketReport.com:  Light day today, in terms of economic data, which Factory Orders is the only report.  It was reported that it rose by 1.2% in August.  Stocks are Down, mostly due to concerns over the Debt Ceiling Crisis in Washington.  A few items to note in the healines news were that Evergrande is talking about selling off pieces to cover their debt payments, which they're currenlty talking about their property management company.  Meanwhile, the CEO of BioNTech basically stated that the covid virus would continue to mutate to different forms, which will lead to further vaccinations in the future.  Some countries have already accepted that it's here to stay and have fully reopened back to normal (places like Norway and Singapore).  MBS closed Up 22bps on Friday, which helped to recapture some of the big losses over the previous week.  Today, we're Down about 6bps, but not enough to change Mortgage Rates, as they remain Unchanged from Friday's close.  Yields have been testing it's Technical floor and currently just above it at 1.48%.

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 10/1/21

 http://MikesDailyMarketReport.com:  There's a lot of data on the Economic Calendar today, which we'll start off with the Personal Income for August, which rose 0.2%; and the Consumer Spending rose 0.8 in August.  The biggie for this week is the PCE, which is the Consumer inflation data that is most heavily weighted by the Fed.  The consider it's Core PCE as "real inflation".  The PCE rose 0.4% in August, as it's YoY rose from 4.2% in July to 4.3%.  The Core PCE (excluding food and energy) rose 0.3 in August, which it's YoY remained Unchanged at 3.6%.  Manufacturing seems to be in good shape, as the ISM Manufacturing PMI rose to 61.1 in September.  Lastly, Consumer Sentiment rose to 72.8 in September.  Overall, decent numbers!  Stocks are Up this morning; and MBS is Up 14bps too.  Another day of improvement for Mortgage Rates.  However, the Yields seem to be stuck north of 1.48%, which is a technical level that we'd like to break, in order to allow Mortgage Rates to continue to improve.  Despite the hesitancy, MBS does seem to be outperforming it's counterpart.

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.