home loans: Daily Market Report 12/23/20
- 12/23/20 08:57 AM
http://MikesDailyMarketReport.com: The Core PCE, which is Real Inflation and used by the Fed, remained Unchanged on it's YoY data at 1.4%. The Initial Jobless Claims revised last week's report from 885k to 892k; however, this weeks report showed it declined to 803k. Durable Goods Orders revised their October data from 1.3% to 1.8%; however, it only rose 0.9% in October (suggesting a slowdown). New Home Sales revised their October data from 999k annualized units to 945k; and it's November data shows a significant drop to 841k. Consumer Sentiment is showing that Consumers are becoming more concerned, as it dropped from it's … (0 comments)
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home loans: Daily Market Report 12/22/20
- 12/22/20 09:14 AM
http://MikesDailyMarketReport.com: The Final Q3 GDP rose slightly from it's initial reading from 33.1% to 33.4%. Consumer Confidence digressed a bit in December, as the index dropped from 92.9 (revised lower from 96.1) in November to 88.6. Existing Home Sales dropped from 6.86 million annualized units (revised slightly higher from 6.85 million) in October to 6.69 million in November, as Supply reaches all time lows. Stocks are trading in Negative Territory this morning. Congress (both House and Senate) passed the $900 Billion Stimulus Package and $1.4 Trillion Spending Budget. The Bills will be sent to President Trump to be signed. MBS had … (1 comments)
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home loans: Daily Market Report 12/21/20
- 12/21/20 10:13 AM
http://MikesDailyMarketReport.com: There are no economic data to report from the calendar today. Stocks are taking their queue from headlines news; and are currently in the Red, as Investors begin concern over a possible new variant of the coronavirus, which is being labeled as more contagious. These are being reported in Britain and South Africa. On the brighter side is the long-awaited Congressional Agreement on a $900 Billion Stimulus package that is expected to be signed today. MBS started the morning much higher, but has dramatically dropped; currently Down 2bps. Currently, pricing for Mortgage Rates are on par with Friday's close; … (1 comments)
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home loans: Daily Market Report 12/18/20
- 12/18/20 08:51 AM
http://MikesDailyMarketReport.com: The Leading Economic Indicators Index rose 0.6% in November. Stocks are facing a lot of volatility today, as they face a Quadruple-Witching. Also, Congress is still working toward a Stimulus Package, along with a Government Spending Bill, in order to avoid a Government Shutdown. Meanwhile, MBS is currently Down 2bps and sitting just above it's 25 DMA. Yesterday, it worked itself back above the 25 DMA. Yields are still sitting in "No Mans Land" between it's 2 technical levels at just under 0.94%.
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home loans: Daily Market Report 12/17/20
- 12/17/20 11:00 AM
http://MikesDailyMarketReport.com: Housing Starts rose in November to 1.547 million annualized units (up from 1.528 million in October). It's counter-part, Building Permits, rose to 1.639 million annualized units in November (up from 1.544 million in October). The Philly Fed Index, which measures manufacturing in the Philadelphia region, dropped significantly, from 26.3 in November to 11.1 in December. Another very disappointing report, was the Initial Jobless Claims, as 885k people applied for first time benefits. However, Stocks are Up this morning, disregarding the Mixed economic data, on increasing likelihood of a Stimulus Package arriving sooner than later. MBS were up initially this morning; … (0 comments)
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home loans: Daily Market Report 12/16/20
- 12/16/20 10:12 AM
http://MikesDailyMarketReport.com: Retail Sales declined a second continuous month in December, as it declined by 1.1%; as it's November's numbers were revised from +0.3% to -0.1%. Markit Manufacturing PMI dropped from 56.7 in November to 56.5 December; and it's Markit Services PMI dropped from 58.4 to 55.3. The Services Industry took a pretty big hit with the renewed lockdowns, as the Markit report indicates. The NAHB Housing Market Index dropped from 90 in November to 86 in December. This report is a survey by Home Builders, which indicates their confidence in the economy. Lastly, the Business Inventories rose by 0.7% in October. … (0 comments)
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home loans: Daily Market Report 12/15/20
- 12/15/20 08:40 AM
http://MikesDailyMarketReport.com: The Empire State Index, which measures manufacturing in the NY region, came in at 4.9 on it's December index, after it posted a 6.3 previously. The Capacity Utilization improved from 72.8% in October to 73.3% in November; while Industrial Production had a revision in October from 1.1% to 0.9%. It's November data came in at 0.4% Stocks are Up this morning on increased talk on a new bipartisan stimulus package that will contain provisions from both factions. Als, the FDA will meet this week on the Moderna vaccine, which had a high efficacy rate. MBS are currently Down 5bps, which … (1 comments)
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home loans: Daily Market Report 12/14/20
- 12/14/20 08:58 AM
http://MikesDailyMarketReport.com: There are no economic data today to report. Stocks are Up this morning on news of vaccines beginning to be distributed across the US; and the UK PM and EU President announcing the scrapping of a deadline to work out a deal between the 2 entities. It is being reported that NYC Mayor De Blasio stated that NYC may want to prepare for a Full Shutdown, which is helping MBS this morning. MBS started the morning much lower, but has since went into positive territory (+5bps). The current pricing will lead Lenders whom priced the East Coast to better pricing, … (1 comments)
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home loans: Daily Market Report 12/11/20
- 12/11/20 09:50 AM
http://MikesDailyMarketReport.com: Both the Producer Price Index (PPI) and Core PPI rose 0.1% in November. This index gauges inflation in the Wholesale sector. The Core PPI's YoY rose sharply from 1.1% to 1.4%. Consumer Sentiment rose from 76.9 in November to the initial December data of 81.4. Stocks are Down primarily due to pessimism over a Stimulus package to be completed any time soon and an increased possibility of a "hard" Brexit, as talks between the UK's PM and EU's President appear not effective. FDA advised to move forward with the emergency vaccines by BioNTech and Pfizer. MBS is Up 12bps, so … (0 comments)
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home loans: Daily Market Report 12/10/20
- 12/10/20 10:13 AM
http://MikesDailyMarketReport.com: Both the Consumer Price Index (CPI) and Core CPI (excludes food and energy) rose 0.2% in November; however, it's YoY remained unchaged from previous month. The CP remained at 1.2% and Core CPI at 1.6%. Bad News with Jobs, which the Initial Jobless Claims spiked to 853k last week. We saw steady declines each week for the past month; and last week's report was 712k. This could be due to recently renewed Lockdowns around much of the US. Stocks are Mixed this Morning, as the NASDAQ remained the only index in Positive Territory. As we continue to see spikes in … (0 comments)
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home loans: Daily Market Report 12/9/20
- 12/09/20 09:30 AM
http://MikesDailyMarketReport.com: Wholesale Inventories rose 1.1% in October. Stocks are Down this morning. The big news today that's driving the Markets is the new proposal by Mnuchin and the White House on for new Stimulus, which is $916 billion. This proposal may have a bit more teeth, as it includes some of the components that the Democrats want in the package, along with the other needed components. Also, the FDA will be meeting tomorrow regarding the next steps to authorizing the release of the vaccines to the public. As mentioned yesterday, UK PM Boris Johnson will visit Belgium to meet the EC … (0 comments)
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home loans: Daily Market Report 12/8/20
- 12/08/20 10:10 AM
http://MikesDailyMarketReport.com: We received the final revision for the Q3 Labor Costs, which rose from -8.9% to -6.6%; and the final revision for Q3 Productivity dropped from 4.9% to 4.6%. However, Stocks are trading in Positive Territory this morning. A 90 year old woman in the UK received the first vaccine in the UK, as they begin vaccinations there. They're still working thru the regulations in the US in order to begin here. As we know, the numbers are still spiking. There's a bit of a divide in the Senate on a new Coronavirus Package, as some want a $908 billion joint … (1 comments)
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home loans: Daily Market Report 12/7/20
- 12/07/20 09:02 AM
http://MikesDailyMarketReport.com: There are no economic data to report today, so the Markets are looking at geopolitical events for their Movements today. Stocks are in Mixed Territory, as NASDAQ is currently the only index in Positive Territory, after many of the indexes setting new highs last Friday. Cases for COVID are rising, as are hospitalizations; and calls for more Stimulus are being pushed to Congress to act. Reuters is reporting that the Trump Administration is applying sanctions to a few additional Chinese officials for China's actions with recent Hong Kong events; and Russell index is expecting to drop a few Chinese companies … (1 comments)
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home loans: Daily Market Report 12/4/20
- 12/04/20 11:06 AM
http://MikesDailyMarketReport.com: Today, we receive data from the Bureau of Labor Statistics (BLS). We'll start off with Average Earnings for the month of November, which rose by 0.3%. The "biggie", which is the Non Farm Payrolls had a lower revision for October, which went from 638k to 610k; and November was a huge disappointment at 245k. Average Work Week Hours remained the same at 34.8 hours per week. The Unemployment Rate dropped from 6.9% in October to 6.7% in November. Lastly, the Factory Orders revised their September data from 1.1% to 1.3%; and it's October number rose 1.0%. This is 6 consecutive … (0 comments)
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home loans: Daily Market Report 12/3/20
- 12/03/20 09:36 AM
http://MikesDailyMarketReport.com: The Initial Jobless Claims reported fewer claims last week, which 712k people applied for first time benefits. Last week's report was revised higher, from 778k to 787k. Also, people are leaving the Unemployment, as Continuing Benefits dropped from approximately 6 million to 5.5 million. ISM Non Manufacturing shrunk from 56.6 to 55.9 in November. Stocks are Up this morning, as they review the good jobs data today. MBS is Up 3bps, so there wasn't any movement with Mortgage Rates from yesterday's pricing. Yields have dipped down to 0.92%.
Please subscribe to my YouTube Channel at MikesDailyMarketRpt
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home loans: Daily Market Report 12/2/20
- 12/02/20 09:19 AM
http://MikesDailyMarketReport.com: The ADP, which will be the first of 3 jobs data that we'll see this week, had a revision higher to last week's report. It was initially stated that 365k new jobs in the Private Sector were created for October; however, it was revised to 404k. It dipped to 307k in November on forecasts of 410k. Stocks are taking a breather after a very strong November and yesterday's rally. A few headline news includes the UK approving emergency vaccines from Pfizer and BioNTech; Stimulus negotiations hit a snag when Mitch McConnel reiterated his point on a "targeted stimulus" position in … (0 comments)
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home loans: Daily Market Report 12/1/20
- 12/01/20 10:44 AM
http://MikesDailyMarketReport.com: Construction Spending rose 1.3% in October. The ISM Manufacturing Index, like yesterday's Chicago PMI report, dipped from 59.3 to 57.5 in November. The ISM Manufacturing is considered the "Gold Standard" for the Manufacturing reports. Stocks are Up after a very big November. Congress is restarting Stimulus talks again. Mnuchin and Powell are testifying before Congress. Also, according to a report by Adobe Analytics, Cyber Monday broke another record at $10.8 Billion in online sales yesterday. However, MBS has lost their gains from yesterday, and are currently Down 23bps; so, Mortgage Rates have stepped up a little bit today. Also, Yields … (0 comments)
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home loans: Daily Market Report 11/30/20
- 11/30/20 11:13 AM
Hi All,
I'm not certain why I'm unable to copy/paste from my wordpad regarding the summary of my video, but here's a link to my other Blog site: Mikes Daily Market Report
Here's the video:
… (1 comments)
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home loans: Daily Market Report 11/25/20
- 11/25/20 09:47 AM
http://MikesDailyMarketReport.com: The 2nd reading for the Q3 GDP remained Unchanged at 33.1%. The Durable Goods Orders revised their September numbers from 0.5% to 2.1%, but it came in at 1.3% for October; when you exclude Transportation, then it rose 1.3% in October. Last week's Jobless Claims were revised higher from 742k to 748k, which this week's report came in at 748.5k. The Continued Claims have dropped by approximately 300k too. Personal Income was revised from 0.9% in September to 0.7%; however, it dropped 0.7% in October. Consumer Spending revised their September number of 1.4% to 1.2%, which October reported 0.5%. The … (0 comments)
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home loans: Daily Market Report 11/24/20
- 11/24/20 11:01 AM
http://MikesDailyMarketReport.com: The Case Shiller Home Price Index saw a big spike in home appreciation for the month of September, as it rose 6.6% YoY. Meanwhile, the Consumer Confidence dropped a bit in November to 93.1, from October's 100.9. Stocks are Up this morning, as the DOW hit another Milestone -trading over 30k for the first time! Even though cases have increased, Investors are feeling better about the vaccines and medical help to treat them. Meanwhile, Biden has tabbed former Fed Chair Janet Yellen to be his Treasurer once (or if ) he takes office. MBS is currently Down 3bps, but were … (0 comments)
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http://MikesDailyMarketReport.com: The Core PCE, which is Real Inflation and used by the Fed, remained Unchanged on it's YoY data at 1.4%. The Initial Jobless Claims revised last week's report from 885k to 892k; however, this weeks report showed it declined to 803k. Durable Goods Orders revised their October data from 1.3% to 1.8%; however, it only rose 0.9% in October (suggesting a slowdown). New Home Sales revised their October data from 999k annualized units to 945k; and it's November data shows a significant drop to 841k. Consumer Sentiment is showing that Consumers are becoming more concerned, as it dropped from it's … (0 comments)
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