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Daily Market Report 8/14/20
http://MikesDailyMarketReport.com: Retail Sales disappointed in July, as it came in at 1.2%, after a 7.5% jump in June. When you exclude Autos, it went up 1.9% in July. Productivity rose by 7.3% in Q2 and Unit Labor Costs rose by 12.2%. Industrial Production continues to progress, as it rose 3.0% in July. Capacity Utilization rose from 68.5% in June to 70.6% in July. Consumer Sentiment rose to 72.8%, after forecasts called for a drop. Business Inventories continue to decline, as they declined 1.1% in June. Stocks are Mixed again today, but this time, NASDAQ is lone index in Red. Not much news on Congressional negotiations for new Stimulus package, COVID-19 or tensions with China, as they've been our main headlines for awhile now. However, Lenders repriced for the worse during the afternoon yesterday, and closed down 9bps. This morning, we're currently Up 3bps, so Mortgage Rates are Unchanged from pricing after yesterday's close (but lower than yesterday's start). Also, for those whom are refinancing with conventional loans and received a rate quote from Wednesday or later, then now your looking at a 0.5% increase to the fee of the rate you were quoted. So, if you have a $300k loan and ... more

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