Real estate blog entries tagged with interest rate trends by Mike Bjork (Evolve Bank & Trust)

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interest rate trends: Daily Market Report 1/26/21 - 01/26/21 10:00 AM

http://MikesDailyMarketReport.com: Today, we have a few Home Price Indexes gauging Home Appreciation on a Year over Year basis. The Case Shiller HPI rose from 8.0% in October to 9.1% in November; and the FHFA HPI rose from 10.3% in October to 11.0% in November. Also, Consumer Confidence rose from 87.1 in December to 89.3 in January. Stocks are lightly trading, while the 3 indexes tip toe back and forth in Positive and Negative Territory; so, they're currently in Mixed Territory. Today, they're reviewing Q4 Corporate Earnings Reports and watching for any news of more Stimulus, which some reports are coming out … (1 comments)

interest rate trends: Daily Market Report 1/25/21 - 01/25/21 08:50 AM

http://MikesDailyMarketReport.com: We don't have any economic data to report today; and Stocks are in the Red this morning. Investors are watching for Q4 Earnings Reports being released this week, which we have a few large cap companies reporting (this week). Also, Investors will be watching for any signs on the additional Stimulus that were promised during the elections. Meanwhile, MBS is benefitting from Stocks downside this morning, as they rise above it's 100- and 50 DMA (currently Up 17bps). Mortgage Rates show improvement today. Also, Yields have broken lower (below it's dual floor of support and approaching it's 25 DMA). It … (1 comments)

interest rate trends: Daily Market Report 1/22/21 - 01/22/21 08:52 AM

http://MikesDailyMarketReport.com: The Markit Services Services PMI indicated growth in Januayr, as it rose from 54.8 in December to 57.5 in January; and it's counter-part, Markit Manufacturing PMI rose from 57.1 in December to 59.1 in January. Anything above 50 in these indices indicates expansion. Lastly, the Existing Home Sales rose from an seasonally adjusted 6.69 million units to 6.71 million in November and rose to 6.76 million in December. Overall, very good numbers! However, the Stock Market is Down today, as Investors can't justify more expansion when the coronavirus is still negatively affecting the Global Markets (more new cases; more lockdowns … (0 comments)

interest rate trends: Daily Market Report 1/21/21 - 01/21/21 10:08 AM

http://MikesDailyMarketReport.com: After yesterday's disappointing news on Home Builders Confidence, we receive good news on Housing Starts for December, as they jumped from a revised November number of 1.578 million seasonally adjusted data to 1.669 million for December; and Building Permits (future Housing Starts) also jumped up (from 1.635 million in November to 1.709 million in December). Manufacturing spiked in Philadelphia area this month, as the Philly Fed Index rose from 9.1 in December to 26.5 in January. Lastly, Initial Jobless Claims dropped last week to 900k people applying for first time unemployment benefits. It's a tepid number, as we saw this … (0 comments)

interest rate trends: Daily Market Report 1/20/21 - 01/20/21 08:28 AM

http://MikesDailyMarketReport.com: The NAHB Home Builders Index dropped from 86 to 83 in January. This index shows the Confidence level for Home Builders. Stocks are Up this morning, as we receive some of the Q4 Corporate Earnings Reports. The Geopolitical news have been more of an impact with the Markets, especially the Stimulus Package. Today is also the Inauguration Day, but isn't having much impact on the Markets. Biden has already reversed a few policies that were implemented under previous administration. MBS is Up 3bps. Mortgage Rates have been moving sides ways this week, thus far; so they have remained Unchanged. Yields … (2 comments)

interest rate trends: Daily Market Report 1/19/21 - 01/19/21 09:42 AM

http://MikesDailyMarketReport.com: There are no economic data to report today. Today is pretty quiet in the Markets. Stocks are Up this morning. Janet Yellen, whom will become the new Treasury Secretary, will be speaking before Senate today to encourage them in supporting a larger Stimulus Package. Tomorrow will be the inauguration. MBS has little changed from last Friday (down just 3bps), so pricing for Mortgage Rates remain unchanged from Friday's close. Yields are trending sideways, between 1.09% and 1.10%.
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interest rate trends: Daily Market Report 1/15/21 - 01/15/21 09:35 AM

http://MikesDailyMarketReport.com: We have a number of items on the Economic Calendar today, which we'll start with the Producer Price Index for the month of January. The PPI rose 0.3% in January; whereas it's Core PPI (excludes food and energy) rose 0.1% and it's YoY dropped from 1.4% to 1.2%. The PPI is inflation data for the Wholesale sector, so it doesn't have as much impact as the CPI or PCE. Retail Sales disappoint again, as it dropped 0.7% in December; and when you exclude Autos, it dropped 1.4%. Manufacturing continues to slow down in the NY region, as the Empire … (1 comments)

interest rate trends: Daily Market Report 1/14/21 - 01/14/21 08:55 AM

http://MikesDailyMarketReport.com: Initial Jobless Claims saw a very large spike in this week's report for people applying for first time benefits. It jumped up to 965k. Even the Continuing Claims rose by 200k+, as this was decreasing each week. Obviously, this is mostly due to renewed Lockdowns. However, Stocks are embracing the bad data and trading in Positive Territory this morning, as this may represent a bigger Stimulus Package (3.0). There was initial talk of a $1.3 Trillion package, but reports are coming out that it may be closer to $2.0 Trillion. There may be some pushback (even) within the Democratic Party … (3 comments)

interest rate trends: Daily Market Report 1/13/21 - 01/13/21 10:45 AM

http://MikesDailyMarketReport.com: Today, we have consumer inflation report by Consumer Price Index (CPI). The MoM data for December rose 0.4% and it's YoY rose from 1.2% to 1.4%. However, it's Core CPI (excludes volatility from food and energy; and holds more weight in impact to Markets) rose only 0.1% in December and it's YoY remained Unchanged at 1.6%. Stocks liked the inflation data and shows a lot of volatility in the Markets with current Political dramas, as the House is working on a second Impeachment process for President Trump; meanwhile, putting aside other matters, like the larger Stimulus checks they proposed prior … (0 comments)

interest rate trends: Daily Market Report 1/12/21 - 01/12/21 09:45 AM

http://MikesDailyMarketReport.com: We don't have any economic data to report today; however, there will be a 10 year Treasury Auction, which can impact the Markets especially; as Yields have been rising dramatically since last week amidst the big Selloff with no end yet in sight! Stocks are Down this morning on much of the same concerns as yesterday. Meanwhile, MBS continues it's heavy Selloff! It's off from it's earlier lows, but still Down 17bps. Lenders are already pricing Mortgage Rates higher. We're down approximately 1.5 points (or 150bps), which translates that No Point Loan last week will now cost you approximately 1.5 … (0 comments)

interest rate trends: Daily Market Report 1/11/21 - 01/11/21 09:14 AM

http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are Down today after last week's Rally Mode. After last week's Protests, Investors are a bit concerned that Congress will put the extra stimulus on hold in lieu of President Trump's Impeachment hearing, which may take hold this week. Meanwhile, MBS has continued their decline (currently Down 13bps), which will lead Lenders to come out with slightly higher Mortgage Rates this morning (compared to last Friday's close). Yields have continued it's rise, which it normally goes in opposite direction of MBS; and is currently sitting just a hair under 1.13%.
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interest rate trends: Daily Market Report 1/8/21 - 01/08/21 09:48 AM

http://MikesDailyMarketReport.com: Today, we receive the data from the Bureau of Labor Statistics (BLS) regarding Jobs data. We'll start off with the Average Earnings, which rose 0.8% in December. The Non-Farm Payrolls had a revision in November from 245k (initial report) higher to 336k; however, it reported a loss of 140k in December. The higher revision for November helped some, but it didn't cover all the losses in December. The Unemployment Rate remained the same at 6.7%. Wholesale Inventories remained Unchanged in the month of November. Stocks continue their rise today, as the indexes reach new Milestones. Meanwhile, MBS is currently Down … (0 comments)

interest rate trends: Daily Market Report 1/7/21 - 01/07/21 11:07 AM

http://MikesDailyMarketReport.com: The Initial Jobless Claims technically dropped by 3k to 787k people applying for Unemployment because last week's report was revised higher by the same amount. Also, we're still seeing a positive trend that Continuing Claims is declining each week. The ISM Non-Manufacturing PMI came in a little hotter in December, as it reported a 57.2 on it's index (up from 55.9 in November). Forecasts were calling for 54.6. Stocks are Up on the Congressional Confirmation of Biden's election results and was boosted by the positive reading in the Services Sector. They're treading new Milestones. MBS is Down 11bps and testing … (0 comments)

interest rate trends: Daily Market Report 1/6/21 - 01/06/21 08:48 AM

http://MikesDailyMarketReport.com: The ADP reported a decline of 123k jobs in the Private Sector for the month of December. This is the first decline since the lockdowns began in March. However, Factory Orders rose by 1.0% in November. Stocks are Up this morning on news that there may be a Blue Sweep in the Georgia Runoffs. Results are not yet final, but it's appearing that there may be a sweep. The Uncertainty kept Stocks at bay for the past 2 months. MBS is way down today; Down 31bps (dropping below it's 25- and 50 DMA and approaching it's 100 DMA). Yields broke … (1 comments)

interest rate trends: Daily Market Report 1/5/21 - 01/05/21 09:20 AM

http://MikesDailyMarketReport.com: The ISM Manufacturing PMI rose to 60.7 in December (beating forecasts). Stocks are Up this morning, as Investors watch the Georgia runoff today; and determine which Political Party will control the Senate. This is having the most impact with the Markets today. The NYSE delisted 3 Chinese Telecoms today, which may have implications with US relations with China. A few Fed Members made comments that had some impact with the Bond Markets, such as Fed's Bostic mentioning that if the vaccines and pickup in economy happens, then the Fed may "recalibrate" it's Asset Purchases. This comment led to a bit … (0 comments)

interest rate trends: Daily Market Report 1/4/21 - 01/04/21 07:47 AM

http://MikesDailyMarketReport.com: Construction Spending is the only economic data released this morning, which was slightly lower than forecasts at 0.9% for November. We'll see jobs data this week. Stocks are Down this morning, as we begin the first trading day of the year. Investors are watching news on the Georgia Runoff, which we should receive results this week. This will help to determine political power and what policies to be expected. MBS started the morning higher, then it turned much lower; however, currently, it's just Down 2bps from our close last Thursday. So, Mortgage Rates remain Unchanged. Yields have slightly risen to … (1 comments)

interest rate trends: Daily Market Report 12/31/20 - 12/31/20 08:29 AM

http://MikesDailyMarketReport.com: Initial Jobless Claims dropped this week to 787k from last week's revised report of 806k. We're also seeing Continuing Claims continue to decline, which is good news! Stocks are facing razor thin trading today, as Markets will close early today for New Year's Eve. S&P is the only index in positive territory. MBS is currently Up 11bps so far this morning. If you couple that with yesterday's gains, then you should find slightly better pricing fom Lenders today. Yields have slid down to it's 25 DMA (just under 0.92%). Well within it's trading range!
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interest rate trends: Daily Market Report 12/30/20 - 12/30/20 08:16 AM

http://MikesDailyMarketReport.com: Manufacturing in the Chicago region improved in December, as the Chicago PMI rose from 58.2 November to 59.5 in December. Pending Home Sales continued it's decline into November, as it dipped another 2.6%. Stocks are trading in Positive Territory this morning. As expected, the Senate rejected the change in the Stimulus package that would have increased the $600 to $2k check to the people. MBS lost some ground yesterday, but still remained above the 25 DMA. This morning, it's re-tracing it's previous gains and is Up 5bps. Mortgage Rates remain Unchanged from yesterday. Yields also remain Unchanged, as it remains … (0 comments)

interest rate trends: Daily Market Report 12/29/20 - 12/29/20 09:14 AM

http://MikesDailyMarketReport.com: The Case Shiller HPI showed a spike in Home Appreciation in October, when it jumped Up from 6.6% YoY appreciation to 7.9%. Stocks are in Mixed Territory, as trading continues to be light during the Holidays. The House brought up a measure to increase the Stimulus payout to Americans from $600 to $2,000, which President Trump touted. However, it's now up to the Senate to vote. Mitch McConnell is set to speak today, and everybody is expecting him to state whether or not, this measure will come to a vote in the Senate; so, stay tuned! MBS started the morning … (1 comments)

interest rate trends: Daily Market Report 12/28/20 - 12/28/20 09:06 AM

http://MikesDailyMarketReport.com: There's no economic data to report today and this will be another light week in terms of Market Trading, as we continue thru the holidays. Stocks are Up this morning on President Trump's reversal on his stance of vetoing the Stimulus Bills, which contain a lot of money to other countries and entities than the American Consumer, which he wanted to get more funds to them. So, now the Brexit and Stimulus Package has certainty; then the next items that Investors will watch will be the Georgia runoff and the COVID numbers. MBS started the morning off much lower (just … (0 comments)

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