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Daily Market Report 4/15/21

By
Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com: We have a lot of Economic Data to go over from the Calendar today.  We'll start with Retail Sales, which received a big boost from the Stimulus checks that were recently sent out.  Retail Sales jumped 9.8% in March; and when you exclude Autos, then it jumped up 8.4%.  Manufacturing in the Philadelphia is still hot, while the Philly Fed Index came in at 50.2 for April; and in NY, it is still rising, as the Empire State Index rose 26.3.  Great News on the Jobs front, which Initial Jobless Claims came in with only 576k people applying for first time benefits last week, which is down from previous week's 744k.  Capacity Utilization improved to 74.4% in March and Industrial Production only rose 1.4% in that same period.  Business Inventories rose only 0.5% in February.  Lastly, the NAHB Home Builders Index rose to 83 in April, so we'll watch this index to see if the confidence from Home Builders begin to drop, as rising rates and home prices is shrinking Affordability for most home buyers.  Stocks are Up this morning on the strong data and very good Earnings Reports by Financial Companies, as they continue to report Q1 Earnings Reports.  Also, at various points of the day, there will be several Fed Members speaking.  Investors will be listening for anything being said differently from Fed Chair's Powell's comments.  MBS is also having a big rally today, as it approaches it's 50 DMA; and is Up 27bps.  Mortgage Rates will see improvement over yesterday's pricing.  Meanwhile, Yields has tumbled beneath a very strong floor of support and below another level, as it approaches it's 50 DMA.  It's currently sitting around 1.55%.  Both of these movements are more technical in nature.

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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.

 

Comments (2)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Mike and Thanks for your daily blogs with great information to share with us here in the Rain.

 

Apr 15, 2021 10:40 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Mike we over here in Phoenix are benifing from your rising Cali prices.  Whats that saying? A rising tide raises ALL boats. Great post! Thanks for sharing.  Make it an amazing Thursday.  Bill Salvatore 

Apr 15, 2021 03:23 PM