http://MikesDailyMarketReport.com: Housing Starts dropped a bit in February, going from 1.624 million annualized units in January to 1.599 million. Also, Building Permits, which is our outlook for Housing Starts, dropped in February, going from 1.550 million in January to 1.464 million. Stocks are way down today (DOW was down approximately 1500), as Investors have concerns on how long of an impact the coronavirus will have on the global economy and it's effects on small businesses. It's expected that the US Gov't will roll out a Stimulus package to help both businesses and consumers during this crisis, which may lead up to $1.3 Trillion in new debt. This is having a large impact on MBS and Treasuries, as Treasuries surge to 1.13% due to the sudden increase in debt, while demand to purchase it is not there. MBS has dropped 89bps and is testing it's 25 DMA again. As you may have guessed, Mortgage Rates have dramatically jumped up again!
Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt
Check out and "Like" my Facebook page for Real Estate Agents at FreeHelpForCARealEstateAgents
Comments(0)