home loans: Daily Market Report 11/23/20
- 11/23/20 09:23 AM
http://MikesDailyMarketReport.com: Today, we received reports from the IHS Markit PMI, which they show Manufacturing rising from 53.4 in October to 56.7 in November; and Services rose from 56.9 in October to 57.7 in November. Overall, a very good report! Stocks are Mixed this morning on light trading, as this is a short Holiday week. NASDAQ is the lone index in the Red this morning. The Headline news mostly covers some optimism for COVID related news on vaccines and Health Officials okaying experimental drugs to help with COVID patients, as numbers rise; and worries about it spreading more during the Holiday season, … (1 comments)
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home loans: Daily Market Report 11/20/20
- 11/20/20 10:13 AM
http://MikesDailyMarketReport.com: We don't have any economic data to report today. Today is the last full week prior to Thanksgiving, as many of the large Hedge funds will be out all of next week for vacation, so it could get a little choppy due to the smaller investors. Currently, the Stock Market is Mixed, as the NASDAQ is the lone index in Positive Territory. All week, investors have been deliberating back-and-forth between optimism with the vaccines and the current status of the rising cases. We had a surprise announcement by the Treasury today when Mnuchin requested the balance of the unused funds … (0 comments)
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home loans: Daily Market Report 11/19/20
- 11/19/20 09:54 AM
http://MikesDailyMarketReport.com: The Manufacturing in the Philadelphia region dipped a bit in November, as the Philly Fed Index shows it went from 32.3 in October to 26.3 in November. This is still a relatively high number, but we'll watch this trend. However, the Initial Jobless Claims jumped up to 742k last week, after we were seeing approximately 4 weeks in a row with declining data. On a positive note, Existing Home Sales jumped up from 6.54 million annualized units in September to 6.85 million in October. Also, the Leading Economic Indicator continued it's trend of rising 0.7% in October. Stocks are in … (0 comments)
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home loans: Daily Market Report 11/18/20
- 11/18/20 08:40 AM
http://MikesDailyMarketReport.com: Housing Starts rose from 1.415 million annualized units in September to 1.530 million in October; however, Building Permits remained Unchanged at 1.530 million. Stocks are trading in Positive Territory, as Investors go back-and-forth with corona virus cases rising and soon to be released vaccines. Pfizer announced their final testing came in at 95% and will be applying for the vaccines. Meanwhile, MBS is Down 8bps and appear to be losing more ground as this report is being completed. We had a price improvement yesterday and closed Up 25bps, which was Up from +13bps when I did yesterday morning's report. This … (0 comments)
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home loans: Daily Market Report 11/17/20
- 11/17/20 09:11 AM
http://MikesDailyMarketReport.com: Import Prices dropped by 0.1% in October. The Retail Sales report indicated it's lowest MoM increase since the Pandemic with a 0.3% in October; but if you exclude Autos, then it was only 0.2% increase. The Retail Sales has become a more important data point to Investors, as they watch Consumer activity; whereas, they already see that Jobs aren't returning as fast as one would wish. Capacity Utilization increased to 72.8% in October. Industrial Production increased by 1.1% in October. The NAHB Housing Market Index rose from 85 in September to 90 in October. Lastly, Business Inventories rose 0.7% in … (0 comments)
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home loans: Daily Market Report 11/16/20
- 11/16/20 08:51 AM
http://MikesDailyMarketReport.com: There are no economic data to report today. The main headline affecting the Markets is Moderna's announcement that their vaccine has 94.5% efficacy (higher than Pfizer's report last week). Stocks are Up this morning on the news; however, a bit more moderate compared to last Monday's report, which settled down a bit throughout the remaining week. MBS is Unchanged from Friday's close, so Mortgage Rates also remain Unchanged. Yields have risen to just under 0.91%.
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home loans: Daily Market Report 11/13/20
- 11/13/20 09:07 AM
http://MikesDailyMarketReport.com: The inflation on the Wholesale side of the economy (also, as we had CPI yesterday) pull back in October, as the Core PPI rose only 0.1% in October, and it's YoY dropped from 1.2% to 1.1%. The headline PPI, however, rose 0.2% for MoM in October. Consumer Sentiment dropped in it's mid-readings in November from 81.8 in October's final reading to 77.0 so far in November. Much of this has to do with renewed concerns over rising cases of coronavirus and talk of more lockdowns. Stocks are Up this morning on primarily due to good reports from Disney, Cisco and … (0 comments)
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home loans: Daily Market Report 11/12/20
- 11/12/20 09:56 AM
http://MikesDailyMarketReport.com: The CPI and Core CPI were flat in the month of October; so, both of their YoY results dropped. The CPI dropped from 1.4% to 1.2% and Core CPI dropped from 1.7% to 1.6% in October. Also, we have good news on Jobs; whereas, the Initial Jobless Claims continue to decline, which only 709k people applied for first time benefits last week. Another important factor to consider is the continuing jobless claims dropped below 7 million for the first time since this whole Pandemic began (6.786 million). Stocks are in Mixed Territory, as NASDAQ is the lone Index in Positive … (0 comments)
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home loans: Daily Market Report 11/10/20
- 11/10/20 09:50 AM
http://MikesDailyMarketReport.com: No economic data to report today. Market will be closed tomorrow, so next report will be Thursday. Stocks are in Mixed Trading, as the NASDAQ being the lone index in the Red. Investors are re-evaluating their positions in the Market, as cases of COVID are increasing in many areas. The vaccine was good news, however, it will take months for it to be accessable. Meanwhile, MBS had a Bond Rollover, which occurs monthly. This is why it appears lower on the chart, but pricing hasn't been affected. It's simply a reset for MBS. MBS pulled back yesterday, as it faced … (0 comments)
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home loans: Daily Market Report 11/9/20
- 11/09/20 10:46 AM
http://MikesDailyMarketReport.com: There are no economic data to report. There's only some Treasury Auctions scheduled for today. Most of the data will be reported on Thursday and Friday of this week. The Market will be closed on Wednesday, due to Veterans Day. Stocks are WAY Up this morning, as the DOW has topped 1k. The Market is being driven primarily due to updates on COVID-19 vaccinations, as Pfizer and BIO N Tech reported high success rates on their late stage testing. I believe Pfizer reported 90%, which 50% is considered ok. Also, many pundits are counting the elections to Biden, as these … (0 comments)
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home loans: Daily Market Report 11/6/20
- 11/06/20 11:25 AM
http://MikesDailyMarketReport.com: Today is the big day for Jobs Data, which the Bureau of Labor Statistics released thier reports. The Average Earnings modestly rose 0.1% in October. The Non-Farm Payrolls rose by 638k new jobs, while the Unemployment Rate dropped from 7.9% in September to 6.9% in October. This can be a little misleading, as we saw an uptick in people leaving Unemployment for part-time work. We saw some of this after the Credit Crisis. Lastly, the Wholesale Inventories rose by 0.4% in September. Stocks are Up again today, as we go thru more Election saga. The Fed provided their announcement yesterday, … (0 comments)
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home loans: Daily Market Report 11/5/20
- 11/05/20 08:32 AM
http://MikesDailyMarketReport.com: Last week's Jobless Claims were revised higher by 7k (758k), and this week's report came in at the same as last week's initial number of 751k. Productivity for Q3 preliminary numbers show a 4.9% increase. Q2 had a revision to 10.6%, from 10.1%. Q3 Labor Costs had preliminary numbers reflecting a loss of 8.9%; after it's Q2 was revised lower from 9.0% to 8.5%. Stocks continue their Positive run, as more investors sink in more investment dollars that sat on the sideline due to Uncertainty in the Markets, but it seems to becoming a bit clearer now, as more states … (0 comments)
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home loans: Daily Market Report 11/4/20
- 11/04/20 10:14 AM
http://MikesDailyMarketReport.com: This week, we'll see Jobs data from Octobers numbers. Today, we have the ADP Payroll, which (very much) underwhelmed us with 365k new jobs in the Private Sector. This is after 749k was reported in September; and forecasts called for 650k in October. The ISM Non-Manufacturing PMI Index dropped from 57.8 in September to 56.6 in October. The Markit Services showed a completely different story, but we didn't have it on our calendar to report the actual number; but, it indicated that it rose in October. The ISM is a more closely watched index, compared to the Markit index. Stocks … (0 comments)
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home loans: Daily Market Report 11/3/20
- 11/03/20 12:21 PM
http://MikesDailyMarketReport.com: Factory Orders rose by 1.1% in September. Stocks are Up on upcoming US Election today and Q3 Corporate Earnings continue to go well. MBS is Down 8bps so far this morning, after losing it's momentum yesterday. Lenders repriced for the worse yesterday and have reported even worse pricing than yesterday's close. One silver lining is the possibility of a contested election results, which will create uncertainty in the Market. This could potentially help Mortgage Rates, at least temporarily. We'll watch for the election results. Meanwhile, Yields are pushing against another Technical Level, which we haven't seen since March. It's sitting … (1 comments)
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home loans: Daily Market Report 11/2/20
- 11/02/20 08:57 AM
http://MikesDailyMarketReport.com: The ISM Manufacturing finished October at 59.3 (vs. September at 55.4). Quite a Jump! And great news for Manufacturing sector! However, Construction Spending came in only Up .3% (wich forecasts calling for 1.0% increase). Investment Dollars appear to be coming back into the Markets, after last week's selloff. Stocks are Up this morning on the ISM report and Q3 Corporate Earnings. Elections are tomorrow, and have Investors worried over a delayed winner. This could lead to a drop in stocks in the coming days, if this occurs; however, this may help MBS and Mortgage Rates! Currently, MBS is Up 16bps … (0 comments)
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home loans: Daily Market Report 10/30/20
- 10/30/20 09:12 AM
http://MikesDailyMarketReport.com: Consumer Spending rose by 1.5% MoM in September, while Personal Income rose by 0.9%. Employment Costs, for Q3, rose by 0.5%. We received data on the Fed's favorite gauge for inflation, the Personal Consumption Expenditur (PCE); actually it's Core PCE is what they view, as it removes the volatility of food and energy. Both the PCE and Core PCE rose by 0.2% MoM in October; however, the PCE remained Unchanged at 1.4%, while the Core PCE dropped from 1.6% in September to 1.5% YoY. Manufacturing in Chicago region dipped a little bit, when the Chicago PMI reported it went from … (0 comments)
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home loans: Daily Market Report 10/29/20
- 10/29/20 09:14 AM
http://MikesDailyMarketReport.com: Q3 GDP rose 33.1% after a loss of 31.4% in Q2. Of course, these numbers are a bit skewed due to lockdowns and Government Stimulus. However, they do look promising! Another promising report came out in the Initial Jobless Claims, which (again) was lower than the previous week. Only 751k applied for benefits last week! Unfortunately, the Pending Home Sales didn't get the memo, as it showed a drop of 2.2% in September. Stocks are Up this morning based on the economic data, but they are still a bit jittery over the increase in virus cases and possible lockdowns/restrictions, as … (0 comments)
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home loans: Daily Market Report 10/28/20
- 10/28/20 09:43 AM
http://MikesDailyMarketReport.com: There are no economic of "note" to report today. We did receive data on Mortgage Applications, which were up last week for both purchase and refinance. Stocks are in Negative Territory, as new cases for COVID rise across US and Europe. Investors are concerned over possible new lockdowns, which will further harm the global economy. Also, the election is less than a week away; so, we'll see how the Market reacts to it's results. MBS are Down 5bps and testing it's 25 DMA. Mortgage Rates remain Unchanged from yesterday's pricing. Yields have also fallen some, as it broke beneath an … (0 comments)
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home loans: Daily Market Report 10/27/22
- 10/27/20 08:33 AM
http://MikesDailyMarketReport.com: Durable Goods jumped up 1.9% in September (greater than 0.5% forecasts). When you exclude "big ticket" items, like Transportation, it went up 0.8%. Case Shiller jumped from 3.9% YoY in July to 5.2% in August. Huge Increase! However, Consumer Confidence dipped a little bit, from 101.8 in September to 100.9 in October. Stocks are trading in Mixed Territory, as the DOW continues it's decline; S&P dipping it's toes back and forth between positive and negative territory; and NASDAQ is in Positive Territory. A Merger between AMD and Xillinix was announced, which is helping to prop up the NASDAQ, along with … (1 comments)
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home loans: Daily Market Report 10/26/20
- 10/26/20 09:02 AM
http://MikesDailyMarketReport.com: New Home Sales dropped in September from 1.011 million annualized units in August to 959k. Forecasts were calling for an increase to 1.025 million. Stocks are Down, as COVID related cases spike in the US. Europe has started to lock down again, which worries Investors that the US will do the same, as we're trying to bring the economy and jobs back. There are more Q3 Earnings Reports coming out this week, which will have some notable High Tech Corporations releasing their's (namely Microsoft and Alphabet). MBS has jumped Up 17bps and is testing it's 50- and 25 DMA ceiling. … (1 comments)
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http://MikesDailyMarketReport.com: Today, we received reports from the IHS Markit PMI, which they show Manufacturing rising from 53.4 in October to 56.7 in November; and Services rose from 56.9 in October to 57.7 in November. Overall, a very good report! Stocks are Mixed this morning on light trading, as this is a short Holiday week. NASDAQ is the lone index in the Red this morning. The Headline news mostly covers some optimism for COVID related news on vaccines and Health Officials okaying experimental drugs to help with COVID patients, as numbers rise; and worries about it spreading more during the Holiday season, … (1 comments)
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