home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 9/2/20
- 09/02/20 09:00 AM
http://MikesDailyMarketReport.com: ADP Payroll reported a positive revision to their July data, from 167k to 212k. They reported that August had 428k new jobs, which is well below the forecast of 950k. Factory Orders had a positive revision in June, which they had a MoM improvement from 6.2% to 6.4%; which they maintained that same pace in July, as it jumped up 6.4% again in July. Stocks are trading in Positive Territory this morning. Bloomberg reported that Treasury Secretary Mnuchin and Nancy Pelosi are resuming talks regarding Stimulus Package, which is viewed as a necessity to get the economy back in order. … (1 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 9/1/20
- 09/01/20 09:21 AM
http://MikesDailyMarketReport.com: The IHS Markit Manufacturing PMI rose from 50.9 in July to 53.1 in August. The ISM Manufacturing PMI rose from 54.2% in July to 56.0% in August. This is the highest reading since January 2019 for ISM. Any number above 50 is considered growth, expansion. Globally, we're seeing improvements with China and Europe too. Construction Spending only increased 0.1% in July. Stocks are Up this morning, as the Technology Sector continues it's lead in the Markets. Investors are beginning to reevaluate their positions in the Market, which we could see some corrections in the near future, as much of the … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/31/20
- 08/31/20 09:27 AM
http://MikesDailyMarketReport.com: There are no data to report from economic report. This week will provide us Jobs data from the month of August. Meanwhile, Stocks are in Mixed Territory, as the NASDAQ is the only index in Positive Territory; and the DOW is currently Down 200+ points. The FDA provided some optimism, as we approach the final stages for a few Pharmaceuticals' vaccinations research; which they stated the possibility to safely expedite the process of getting the vaccines out to the public. A few Fed Officials were speaking today; and Richard Clarida reiterated his support for the Fed's announcement last week to … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/28/20
- 08/28/20 11:59 AM
http://MikesDailyMarketReport.com: Inflation rose a little bit in the month of July, as the Personal Consumption Expenditure rose 0.3% MoM; and increased it's YoY from 0.9% to 1.0%. When you remove the Food and Energy, then you have the Core PCE (the Fed's favorite measure for inflation), which also rose 0.3% in July; and it's YoY rose from 1.1% to 1.3%. The Consumer Spending rose 1.9% in July, as it's counter-part, Personal Income, rose 0.4%. The Chicago PMI, which measures the manufacturing in the Chicago region, had a slight dip in August, as it went from 51.9 in July to 51.2 in … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/27/20
- 08/27/20 10:14 AM
http://MikesDailyMarketReport.com: Initial Jobless Claims improved from last week's report to 1.006 million people applying for Unemployment for the first time. The second look of Q2 GDP dropped from -32.9% to -31.7%. The final revision will come next month. Pending Home Sales continue to show a robust Market, as it increased 5.9% in July (MoM). Stocks were in Positive Territory early on, even after Fed Chair Jerome Powell presented his speech during the Jackson Hole Summit. However, it just started to become mixed, as much of the Market left it's earlier highs and NASDAQ dipped into the Red. I believe the Market … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/26/20
- 08/26/20 09:53 AM
http://MikesDailyMarketReport.com: The Durable Goods Orders surprised to the positive side today, as it jumped up from June to July by 11.2%; however, when you remove Transportation, it only jumped up by 2.4%. Stocks are (again) in Mixed Territory, as DOW continues it's recent path in the Red. There hasn't been any catalysts to really dictate the Markets, so Investors will be watching tomorrow's speech by Fed Chair Jerome Powell. Typically, they'd be in Jackson Hole, WY; but due to the recent events, it will be viewed online. This will be especially important for Mortgages because he has recently talked about letting … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/25/20
- 08/25/20 09:05 AM
http://MikesDailyMarketReport.com: The Case Shiller Home Price Index rose 4.3% in June. Consumer Confidence dropped from 91.7 in July to 84.8 in August. However, we do have a silver-lining with New Home Sales, as it jumped from 791k in June to 901k in July. Stocks are in Mixed Territory this morning, as the DOW is the lone index in Red today. It's down a little more than 100 points. The US and Chinese counter-parts finally connected to review the Phase One Agreement, which was being reported as being constructive and went well. Also, the DOW elected to shift some of it's weighted … (1 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/24/20
- 08/24/20 09:31 AM
http://MikesDailyMarketReport.com: There are no economic data to report today, but there will be some important data to be reporte the remaining parts of this week. Stocks are Up this morning, as we approach closer to some treatments and vaccinations for COVID-19. The FDA is approving the use of Plasma for treatment of COVID -19 patients; and President Trump is opening the door for the possibility of Astra Zaneca's vaccination to be approved to be used in the US. Meanwhile, MBS is hovering around it's 25 DMA still and testing it. It's currently Up 5bps; so Mortgage Rates continue to move more … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/21/20
- 08/21/20 11:32 AM
http://MikesDailyMarketReport.com: The Markit Manufacturing PMI improved from 50.9 in July to 53.6 in August. The Markit Services PMI improved from 50.0 in July to 54.8 in August. So, according to Markit PMI, both the Manufacturing and the Services Sectors of our economy show signs of improving. Also, Existing Home Sales topped June's record of 4.70 million annualized units to 5.86 million in July. This is due to new trends of people leaving the urban areas to suburbs and rural areas, as many realize they don't need to live in the urban areas to work, as they can work remotely. Stocks are … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/20/20
- 08/20/20 11:16 AM
http://MikesDailyMarketReport.com: The Initial Jobless Claims reported today was a bit of a disappointed after last week's (revised) 971k people applying for first time unemployment benefits, jumped back above the 1 million mark at 1.11 million for last week. The Manufacturing in the Philadelphia dropped a little in August, but remains relatively good, as the Philly Fed Index dropped from 24.1 to 17.2. Also, the Leading Indicators show more regression in the upcoming months, as it went from 3.0% in June to 1.4% in July. Stocks are Up a bit this morning, but Investors are still worried that an Stimulus Packages hasn't … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/19/20
- 08/19/20 09:52 AM
http://MikesDailyMarketReport.com: The only economic data being reported today is the FOMC Minutes from the Fed's Meeting last month. This will be released a little later this morning, and there are no expectations of anything being of surprised, as the Fed has been very transparent of their thoughts. Stocks are Up today, as Investors preview earnings from Retail Sector; and Target and Lowes had reported better than expected results. The Markets are taking it's queue from these reports today. Investors are still watching for any compromise between the Republicans and Democrats on a bill to help those adversely affected from the Pandemic. … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/18/20
- 08/18/20 10:50 AM
http://MikesDailyMarketReport.com: We had very good numbers in Housing today, as indicated by the higher Home Builders Confidence. In Housing Starts for July, they jumped from 1.220 million seasonally adjusted units in June to 1.496 million in July. The Building Permits (future housing starts) also, jumped from 1.258 million seasonally adjusted units in June to 1.45 million in July. Stocks are in Mixed Territory this morning, as the DOW is again trading in the Red. Tension grew some more between US and China, as President Trump posed more restrictions on Hauwei, which he commented that the company's products are "spyware" for China. … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/17/20
- 08/17/20 09:51 AM
http://MikesDailyMarketReport.com: The Manufacturing data disappointed in August, after July's 17.2, was followed by 3.7 in August. However, the NAHB Home Builders Index rose from 72 in July to 78 in August, as the migration from Urban areas are leading those to the suburbs and New Homes. Stocks are in MIxed Territory this morning, as the DOW is the lone index in the Red. Investors are watching the different components on a Market Recovery, and have come to the conclusion that a V shaped recovery won't happen; but are hopeful that they will see signs that it will continue to pick up. … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/14/20
- 08/14/20 11:27 AM
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 … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/13/20
- 08/13/20 09:46 AM
http://MikesDailyMarketReport.com: The Initial Jobless Claims finally dropped below 1 million since the Pandemic, as it reported 963k people applying for unemployment benefits for first time; which last week's number was 1.19 million. Stocks are Mixed today, as the DOW remained the lone index in Red. Not much else is new, as Congress continues to blame one another for not coming to a resolution to a new Stimulus package and numbers are subsiding with COVID-19 cases. There was one surprise last night that will affect people, whom are looking to refinance their conventional loans (Fannie Mae and Freddie Mac), which they announced … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/12/20
- 08/12/20 10:54 AM
http://MikesDailyMarketReport.com: The Consumer Price Index rose 0.6% in July, which it's YoY jumped up from 0.6% to 1.0%. The Core CPI (excluding food and energy) also rose 0.6% in July, and it's YoY increased from 1.2% to 1.6%. Stocks are Up this morning on overall good sentiment regarding the improving economic trends and progress in COVID-19 between vaccinations coming out soon and cases dropping. MBS dropped a bit further yesterday (closed down 34bps), so pricing worsened yesterday; and this morning, it was down further, but it's currently Down 3bps. This worsening trend will push Lenders to come out with a little … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/11/20
- 08/11/20 10:22 AM
http://MikesDailyMarketReport.com: The NFIB Small Business Index dropped from 100.6 in June to 98.8 in July, as many states reconstituted some form of lockdowns. The Wholesale Inflation data rose in July, as the Producer Price Index rose by 0.6% in July; and the Core PPI (excluding Food and Energy) rose by 0.5%. Stocks are Mixed this morning, as the NASDAQ again is the lone index in the Red. Congress reconvenes their negotiations with another Stimulus Package. Russia becomes the first to release COVID-19 vaccines. Mortgage Rates worsened a little bit today, as the MBS is currently Down 17bps. Meanwhile, Yields have skyrocketed … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/10/20
- 08/10/20 11:48 AM
http://MikesDailyMarketReport.com: No economic data to report today. Stocks are Mixed, as the NASDAQ is lone index in Red. President signed Executive Order to extend portions of the Pandemic Stimulus, including unemployment benefits and assisting renters. There may be legal proceedings to block it. Also, tensions continue to escalate between US and China. China counters US' 45 day warning of ban on dealings with BytDance and Tencent by restrictions on more people and companies whom support them over criticisms of China. MBS is currently Up 6bps, so Mortgage Rates remain Unchanged from Friday's close. Yields are widely fluctuating, as they test it's … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/7/20
- 08/07/20 09:50 AM
http://MikesDailyMarketReport.com: The Non Farm Payrolls rose by 1.76 million in July, as it exceeded it's forecast of 1.68 million. Also, the Unemployment dropped from 11.1% in June to 10.2% in July (almost a full percent). The Average Hourly Earnings, also, exceeded it's forecast of -0.5% in July by reporting +0.2%. The Wholesale Inventories dropped by 1.4% in June. Stocks are Down this morning, as Job creations have slowed, which makes a Stimulus Package even more dire, in the minds of the Investors. President Trump issued a 45 day window for Tech Companies to stop doing business with Chinese Companies, TikTok and … (0 comments)
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home buying home loans interest rate trends interest rates mortgages refinance: Daily Market Report 8/6/20
- 08/06/20 08:49 AM
http://MikesDailyMarketReport.com: Initial Jobless Claims improved this week, as 1.19 million people applied for first time benefits. This is down from last week's 1.44 million; and lower than forecast of 1.40 million. Stocks are Down this morning after a sharp rally yesterday. Not much news, as Congress is still far apart on any Stimulus negotiations and Corona virus numbers continue to rise. MBS is Up 13bps reclaiming quite a bit of yesterday's (-19bps) loss. Mortgage Rates are priced a little better today. Yields are sitting just under 0.52% currently.
As I mentioned in the video, these views do not represent anybody else, but … (1 comments)
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http://MikesDailyMarketReport.com: ADP Payroll reported a positive revision to their July data, from 167k to 212k. They reported that August had 428k new jobs, which is well below the forecast of 950k. Factory Orders had a positive revision in June, which they had a MoM improvement from 6.2% to 6.4%; which they maintained that same pace in July, as it jumped up 6.4% again in July. Stocks are trading in Positive Territory this morning. Bloomberg reported that Treasury Secretary Mnuchin and Nancy Pelosi are resuming talks regarding Stimulus Package, which is viewed as a necessity to get the economy back in order. … (1 comments)
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