Daily Market Report 12/9/21

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims came at 184k last week, which is a new Pandemic low (and lowest since 1968); however, a word of caution, as like every Holiday season, there are lots of Temporary jobs that are created until end of the year.  This temporary position can distort the numbers somewhat.  Continuing Claims bumped up about 40k from previous week.  The Wholesale Inventories increased 2.3% MoM in October.  Later today, there will be a 30 year Bond Auction, which could play a significant role with MBS' positions.  Earlier in the week, the 10 year Treasury Auction went well, which MBS improved upon the news.  Hopefully, the same will occur today.  Unfortunately, tomorrow will be the CPI report, which may be the "wet blanket" for MBS, as it's expected to rise 0.7%.  The November report came in high (0.9%), which MBS reacted negatively.  Inflation erodes the value of bonds/MBS over time.  Stocks are down today, which is helping MBS, as the investment dollars flow from equities to bonds.  We do have some headline news, which are playing their parts today, but not really making too much impact.  The first is the comments by Pfizer about the possible need for a 4th booster shot; and the second, is Fitch downgrading China's Evergrande credit, as they officially defaulted on some payments to their creditors.  MBS is Up 9bps and in similar position as the last few days close periods; so, Mortgage Rate will be in line with the same pricing over past 3 days.  We might see some improvement, if we can get a good 30 year Bond Auction later today.  Most likely, we'll see  a cap at the 25 DMA, which has been capping MBS for the past month.  Meanwhile, Yields have slid back down to just under 1.49%.

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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 12/8/21

 http://MikesDailyMarketReport.com:  There are no economic data to report today; however, there was a 10 year Treasury, which went well and helped the MBS Market.  Earlier in the day, Pfizer and BioNTech reported that the 3rd shot greatly increases the vaccinated from deadly variants, including Omicron.  This helped to push stocks this morning, but at the expense of MBS/Treasuries.  However, the 10 year Treasury Auction went well; and then we saw some improvement with MBS and Yields.  MBS is currently Up 3bps, but was Down approximately approximately 17bps early on.  When ratesheets came out, they were at the lows of the day; so, Mortgage Rates will show worse pricing today.  However, with the recent developments (and if the Market convinces the Market it will stay up), then you may see more Lenders reprice for the better.  This should bring pricing back up to Unchanged levels from yesterday's close.  Also, Yields had spiked from approximately 1.48 ish range to 1.54 ish range.  Currently, it's back down to around 1.51% range.  Remember, Friday will be a very volatile day, as the CPI will be released; and there's a good chance we'll see another spike with inflation.  If this occurs, then we could see another negative reaction in the MBS/Treasury Markets!

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 12/7/21

 http://MikesDailyMarketReport.com:  Today, we get the final reading for both the Productivity and Labor Costs for the 3rd Quarter.  Productivity dropped 5.2%; and Labor Costs spiked upward to 9.6%.  The latter is an index closely watched by the Fed, whom have already indicated a shift in policy in their upcoming FOMC.  This new report will only add more incentive for the Fed to react quickly to stave off out of control inflation.  Tomorrow, we'll have the 10 year Treasury Auction, which can impact Mortgage Rates, as we watch for any appetite from Investors.  Currently, MBS is Down 16pbs, so Mortgage Rates have worsened again today, as Investors are shifting their investment funds away from Bonds back to Equities.  Yields are also rising as a result, as they are currently just under 1.47%.  One geopolitical area to watch is the tension growing with Ukraine, as Russia is piling up troops on the border.  This type of event could disrupt the Markets, if it continues to escalate.  Stay tuned!

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 12/6/21

 http://MikesDailyMarketReport.com:  There's no economic data released today, but the big report to watch for, will be on Friday, which is the CPI.  The last time CPI was reported, then there was a fairly big spike, which the Markets reacted very negatively.  So beware!  The Markets are taking their cues from the weekend's news, which includes recent reports on the the Omicron variant, which may appear to be more mild than past variants.  Also, China's PBOC reduced the reserve requirements for their banks; and Evergrande is coming clean that it may not be able to repay their creditors.  Currently, MBS is currently Down 16bps, as investment dollars leave bonds back to equities today.  Mortgage Rates have worsened slightly from Friday's close.  Yields have jumped up to just under 1.44%.

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 12/3/21

 http://MikesDailyMarketReport.com:  Today is the Big Jobs data by the Bureau of Labor Statistics (BLS)!  We'll start with the Average Earnings (MoM) for November, which rose 0.3%; while the Average Work Week increased by 0.1 to 34.8 hrs/week.  The Non-Farm Payrolls came in at 210k, which was WAY below it's forecast of 550k.  However, it's Unemployment Rate dropped from 4.6% in October to 4.2%.  Meanwhile, Factory Orders increased 1.0% in October; and the ISM Non-Manufacturing (Services sector) jumped up  to 69.1 (anything above 50 is expansion).  The Markets showed a lot of Uncertainty early in trading, as they didn't know how to respond to a low Jobs number, but also see a lower Unemployment number.  Currently, Stocks are selling.  Investors are concerned at the timing of the Fed's abrupt policy change to taper faster, then raise interest rates sooner approach, given the uncertainty of the new variant's impact with the Markets and economy, along with the low jobs number.  MBS was in Uncertain territory for much of the morning, but has shifted into positive territory, as more investment dollars leave the equities market to a "flight to safety". Currently, MBS is Up 13bps, so Mortgage Rates are improving.  They're more close to yesterday's start of the day, as we saw pricing deteriorate later in the day yesterday.  Also, we're seeing a very big drop in Yields, as it's now striking upon 1.38%.

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 12/2/21

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims rose back above the 200k level after (it was reported at 194k last week), which 222k applied for first time benefits last week.  Some good news, lies with the Challenger Layoff (announced layoffs), which dropped by nearly 8 million; and the Continuing Claims dropped below 2 million.  Tomorrow will be the BLS' Jobs data, which we'll see the  Non Farm Payrolls and Unemployment Rate.  Stocks are in positive territory today after a few days of beat downs.  As the old adage goes, buy on the dip!  There are a few Fed Members speaking today.  We already know that the Fed wants to taper faster, so they can raise rates sooner to stave off inflation.  Also, they're watching to see if any new lock downs will occur, as it was reported yesterday that the US (in California) the omicron made it's way here.  MBS is currently Down 33bps, which Mortgage Rates have worsened.  Pricing should be comparable to yesterday's open.  This is due to investment dollars moving from Bonds, back to Equities.  Meanwhile, Yields are rising a bit!  They're currently just under 1.46%, after touching 1.41% earlier.

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 12/1/21

 http://MikesDailyMarketReport.com:  ADP released their Private Payrolls for November today, which is the first of 3 sets of Jobs reports this week, came in a little better than expected with 534k new jobs.  The ISM Manufacturing PMI showed some improvement in November, when they announced it rising from 60.8 in October to 61.1 in November.  Lastly, Construction Spending rose by 0.2% in October.  The Markets are still watching for updates on the Omicron variant and the Testimony by Powell and Yellen before Congress.  Yesterday, the Markets were spooked by comments by Moderna's CEO regarding the new variant and comments by Powell that indicate new Fed Policy shifting at the next FOMC.  They were mostly surprised by the timing of the shift, as now the Markets are dealing with an unknown variant.  However, today, they're rebounding a bit in both Stocks and MBS.  MBS started lower this morning, but has recovered to approximately +9-11bps; and approaching the 25 DMA.  Yields started the day higher and even touched 1.50% before dropping back down to 1.44%.  Mortgage Rates should now be more comparable to yesterday's close; and maybe a little better priced (if it continues to improve).

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.