Daily Market Report 9/29/20

 http://MikesDailyMarketReport.com: The Case Shiller Home Price Index jumped from 4.3% YoY appreciation in June to 4.8% in July.  Nice spike!  Also, Consumer Confidence jumped from 86.3 in it's previous report to 101.8 in it's September report.  Stock indices are all in Negative Territory, as Investors pull back from last 2 days of buying, and before tonights US Presidential Debates.  Meanwhile, Congress is still working toward another Stimulus round.  The Democrats released $2.2 Trillion plan, which is meeting some resistance from Senate, as many want it scaled back a bit.  Mnuchin and Pelosi continue dialogue that will hopefully find a bill that will benefit the people and the economy.  MBS is currently Up 6pbs.  It's had it's ups and downs this morning, per the wicks in the candles indications.  Lenders may price a little better today for Mortgage Rates; but some, may play it more safe and keep it Unchanged.  Yields are challenging it's 25 DMA and sitting at 0.64%.

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 9/28/20

 http://MikesDailyMarketReport.com: There are no economic data to report today; but this week's Jobs Reports will be our Primary focus.  Stocks are Up this morning.  It's partly due to buyers coming back into the Market after several days (last week) of selling and some optimism for a 2nd Stimulus Package, based on recent comments by Nancy Pelosi.  China reported increased profits in their Industrial Sector, which is generating better sentiment to improving global economy.  Also, a Federal Judge blocked the ban on TikTok, as US and China have been facing rising tensions.  MBS started the day lower; however, it's currently Up 3bps.  Mortgage Rates remain Unchaged from Friday's pricing.  Yields showed some movement toward it's 100 DMA, but has pulled back between 100- and 25 DMA.  It's currently at 0.66%.

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 9/25/20

 http://MikesDailyMarketReport.com: Durable Goods Orders' MoM for August disappointed, as it only represented 0.4% growth; after a 11.7% for July.  The CapEx rose 1.8%, which wasn't too bad.  This is the data for Durable Goods Orders without the big ticket items (like transportation, defense, air planes), which can make the numbers a bit lopsided.  Stocks are trading in Positive Territory this morning without much headline news to report.  Investors are still looking toward some resolution for another Stimulus Package from Congress.  MBS is Up 13bps, breaking above it's double-layer of resistance (25- and 50 DMA).  This has led Lenders to provide better pricing today for Mortgage Rates.  Yields are slipping below it's 100 DMA, and sitting just a bit higher than 0.65%.

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 9/24/20

 http://MikesDailyMarketReport.com:  Weekly Jobless Claims were revised higher by 6k in last week's report; and came in about 4k higher this week from the revised number, at 870k.  A silver lining is New Home Sales, as they jump to 1.01 million annual units for August.  This is the first time since 2006 since they've topped the 1 million mark!  Stocks have been tip-toeing back-and-forth between positive and negative territory this morning; however, as I did this video, all 3 indices were in Positive Territory.  The Market is being influenced by the gridlock with Congress on a 2nd CARES plan and worries over a possibly long drawn out legal battle over the  upcoming US Presidential elections.  Treasury Secretary Mnuchin and Fed Chair Powell continue with their 3rd day of testimony before Congress; as they sit before a Senate Committee today.  Also, there are a number of Fed Members speaking today.  We don't anticipate any market movement from these latter Fed talk.  MBS is challenging it's 25 DMA and just below it's 50 DMA, as it tries to break above.  It's currently Up 9bps.  Mortgage Rates will be a little better priced today, as the Market had slight improvement yesterday, along with the current movement.  Yields are still trending between it's 100- and 50- DMA, as it sits just a hair below 0.67%.

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 9/23/20

 http://MikesDailyMarketReport.com: We have reports from Markit PMI for the month of September to report today.  The Market Manufacturing PMI rose from 53.1 to 53.5; and the Markit Services dipped from 55.0 to 54.6.  These are MoM from August to September numbers; and anything above 50 represents expansion.  Stocks are Down, even though they initially started positive, this morning.  It's a culmination of a variety of headline news, which has Treasury Secretary Mnuchin and Fed Chair Powell testifying for the 2nd day before another subcomittee in the House.  Johnson & Johnson becomes the 4th manufacturer to begin the final stage for COVID vaccination testing.  US and China are showing some more tit for tat type of behaviors, as President Trump calls out China for their role in the spread of the Coronavirus Pandemic; and China is considering blocking the sale of TikTok to US companies.  Investors are also concerns over possible legal hurdles that may take place after the US elections, as both parties fight for control.  There are a number of Fed members speaking today, which we don't anticipate any surprises, as the FOMC made their announcement last week.  MBS is currently Up 2bps, so Mortgage Rates continue to move sideways and remain Unchanged.  Yields are testing their 25 DMA and another Technical level; and currently sit near 0.68%.

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 9/22/20

 http://MikesDailyMarketReport.com:  Existing Home Sales improved from 5.86 million annualized units in July to 6.00 million in August.  Meanwhile, Stocks are trading in Mixed Territory, as the DOW is lone index in the Red.  Some of the sentiment from yesterday is continuing into today's trading.  Investors are watching for possible renewed lockdown measures in Europe; and the heated debates between the 2 political parties regarding the replacement of RBG and any stimulus packages.  Treasury Mnuchin and Fed Powell are testifying before House Finance Committee this morning.  MBS is only Up 2bps, so Mortgage Rates remain Unchanged today.  Yields having swings that challenge both it's 25- and 100 DMA is currently sitting between the 2 lines (around 0.67%).

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 9/21/20

 http://MikesDailyMarketReport.com:  There are no economic data to report today, so Markets are looking to the headlines today.  Stocks are WAY Down this morning on concerns of more restrictions in Europe, as they saw some of their COVID Cases rise.  Also, a major news article from Buzzfeed, which other outlets followed, on some Major Banks working with some very notorious people (not in a good way) on Money Laundering schemes.  Also, Investors are seeing if there is any impact on the death of US Justice Ginsberg and possible replacement, as politics heats up.  They're also watching for any news on an Stimulus package, which they still view as being necessary in a recovery.  MBS is currently Up 13bps, so Mortgage Rates are improved from Friday's close.  We should be on par with pricing found last Wednesday.  Yields are Down (below both it's 25- and 100 DMA) to just under 0.66%.

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