Daily Market Report 7/7/22

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims rose by 4k from last week's number to 235k.  Also, the Continued Claims picked up a bit; and the Challenger Layoff (announced upcoming layoffs) spiked by almost 12k from last report.  Tomorrow will be the Jobs data from the Bureau of Labor Statistics, which will carry a bit of weight this week.  Investors will be watching fairly closely tomorrow, as there is a lot of concern of a possible recession.  Today, they're feeling a bit more optimistic, as investment dollars move over to equities.  As a result, MBS is currently Down 11bps, but was down by approximately 19bps.  Pricing for Mortgage Rates will be a little worse compared to yesterday's.  The good news is that the 25 DMA seems to be holding as a floor for us, which can bode well for Mortgage Rates.  Meanwhile, Yields jumped up to just under 3.01%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/6/22

 http://MikesDailyMarketReport.com:  The ISM Non-Manufacturing PMI dropped to 55.3, which was better than the forecast of 54.3.  Anything above 50 with this index indicates expansion.  The FOMC Minutes from it's June meeting were released today.  It basically reiterated what the Fed has been saying all along.  The 50 or 75 bps rate hike is on the table for it's July meeting.  Also, if inflation persists, then they may take more restrictive measures.  Both Stocks and Bonds were in negative territory prior to the release of the Minutes, but Stocks started to improve after the release, while Bonds sank further.  This was mostly to due liquidity issues with the Bond Market, as investment dollars flowed back into the Equities Market.  MBS is currently Down 61bps, so Mortgage Rates worsened today; and is now sitting near it's 25 DMA again (after touching on it's 50 DMA).  Yields jumped up to 2.91% (after being down to around 2.75%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/5/22

 http://MikesDailyMarketReport.com:  Factory Orders rose 1.6% in May; and it's April number was revised higher, from 0.3% to 0.7%.  This will be interesting to follow, as much of the manufacturing data have been contracting.  This week will feature Jobs data; however, one Jobs report will be placed on hold for a bit, as they retool it.  That will be the ADP Private Payrolls, which is typically the first of the Jobs data and released on Wednesday.  MBS is benefitting from a shift in investment dollars from the Equities Market, as Investors are concerned over recession fears.  The price of oil dropped below $100 and the US Dollar is stronger than the Euro.  So, MBS is currently Up 28bps and challenging it's 50 DMA now.  This improvement means there is improvement for Mortgage Rates, as they improve by approximately 0.125% to the rate.   Yields have slid down to 2.82% now and it's now approaching it's 100 DMA.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 7/1/22

 http://MikesDailyMarketReport.com:  Construction Spending dropped 0.1% in May; however, it's April data was revised higher, from 0.2% to 0.8%.  The ISM Manufacturing PMI dropped from 56.1 in May to 53.0 in June; coming in under forecasts of 54.9.  Anything above 50 with this index indicates expansion.  So, many PMIs were released globally (Asia and Europe) today, which seems to be a global trend that these are slowing down (some even contracted).  This has Investors worried, as the Fed is on trajectory with a very hawkish policy path, which they feel will lead us into a recession (if we're not already in one, as some believe).  As a result, investment dollars are flowing back into Bonds/Treasuries for safe keeping (or "flight to safety").  MBS closed Up 42bps (off from earlier highs), which set them up above the 25 DMA, but below 50 DMA (which they challenged earlier on).  This means that we could see an improvement of approximately a 0.25% to our Mortgage Rates today.  Yields settled in just under 2.89%; and off from it's earlier lows.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/30/22

 http://MikesDailyMarketReport.com:  The Personal Consumption Expenditure (PCE) released it's inflation data today.  This index is the Fed's favorite gauge for inflation, so it holds a lot of weight (in terms of impact with Markets).  The PCE rose 0.6% in May, while it's YoY remained Unchanged at 6.3%.  The Core PCE (excluding food and energy; and the data that the Fed uses) rose 0.3% while it's YoY dropped 0.2% to 4.7% in May.  Personal Income rose 0.5% in May; and Consumer Spending rose only 0.2%.  Jobless Claims rose 2k last week to 231k while the Continued Claims rise, as well.  Lastly, the Chicago PMI, which measures manufacturing in Chicago region, dropped from 60.3 in May to 56.0 in June.  The Inflation data was good news for the Markets, as it may indicate it may have peaked.  We're seeing a slowdown in the economy, as Jobs are dwindling and manufacturing is dropping.  These are all signs of a possible recessionary period coming, if we're not already there.  MBS was very pleased with the inflation data, as it finally hits the 25 DMA and is currently Up about 33bps.  This translates to improved pricing for Mortgage Rates today.  Yields dipped below the 3.0% level and is currently just under 2.98%.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/29/22

 http://MikesDailyMarketReport.com:  The Q1 GDP released it's final revision, which dropped another .1% from the previous revision; and the final is a drop of 1.6% for Q1.  MBS is Up today, which it was around 17bps in the beginning of the video, then it jumped up to 25bps.  If this continues, then we could see more price improvements; but overall, Mortgage Rates improved from yesterday.  Speaking of yesterday, it rebounded late in the day to closing up 3bps, after being in negative territory all day.  Improved inflation data out of Germany started a little rally with Euro Bonds, which trickled over to the US.  Sentiment is feeling optimistic ahead of the PCE release tomorrow; however, the CPI sorely disappointed about 2 weeks ago.  This report will have greater impact, as it's the Fed's favorites gauge for consumer inflation.  Meanwhile, many of the global central bankers are speaking at a Forum (including Powell from US and Lagarde from the EU) have the Markets in a better mood too, as they discuss how they're handling the global inflation.  Yields have slid all the way down to 3.11% and coming closer to it's 25 DMA again.

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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 6/28/22

 http://MikesDailyMarketReport.com:  The Case Shiller Home Price Index (HPI), which measures home prices in the 20 largest metros in US, rose 1.8% in April while it's YoY rose to 21.2% (after March lower revision from 21.2% to 21.1%).  The FHFA HPI, which follows conforming loans, rose 1.6% in April while it's YoY dipped to 18.8% (from 19.1%).  Lastly, the Consumer Confidence continues to drop, as it dipped all the way to 98.7 in June.  This is important because if Consumers aren't feeling good about the economy, then they will stop buying, which in turn helps the economy to continue to move along; but the high inflation (namely food and energy) are eating away at many peoples' ability to buy any of the extras in their life (and thus not feeling good about it).  Stocks started up earlier on news from China on more loosening of COVID restriction; however, that changed after the US data were released.  NY Fed Williams noted that he feels the economy will slowdown, but won't go to recession.  However, there are some economists already stating that we may already be in a recession; and many more are concerned with those very prospects possibly happening.  MBS started lower today, but seemed to maintain between -8 and -11bps for mid-day; and toward end of the day has slightly improved to -5bps.  We may not see any changes with Mortgage Rates today, but there may be some changes with the pricing.  The 3.20% seem to be holding the Yields and is currently just under 3.19%.  Remember, the  PCE report will be released on Thursday.  The CPI report that was released a few weeks ago have a severely negative effect with the Markets.  The PCE carries a bit more weight, as it's the Fed's favorite gauge for Consumer inflation.  So, be prepared ahead of time!

**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client.  Contact me today!**

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.