mortgages: Daily Market Report 10/13/20
- 10/13/20 08:40 AM
http://MikesDailyMarketReport.com: The Consumer Price Index, or CPI, rose only 0.2% in September, as did it's Core CPI; however, it's YoY rose from 1.3% to 1.4% and it's Core remained Unchanged at 1.7% YoY. Stocks started the Morning in Positive Territory, as Q3 Corporate Earnings Reports begin to be released. Today, we're seeing a lot of Banks and Financial Institutions releasing their's. Johnson & Johnson paused their vaccine trials, as they experienced some issues. Apple and Amazon begin their special events today, as Apple is set to announce their new 5G capable iPhones and Amazon begins their 2 day Sales Event, Prime … (0 comments)
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mortgages: Daily Market Report 10/9/20
- 10/09/20 09:35 AM
http://MikesDailyMarketReport.com: The Wholesale Inventories rose 0.4% in August. Stocks are in Positive Trading on continued optimism of another Stimulus package. The talks are ongoing and seem to be mixed; however, this isn't affecting the optimism by the Investors. MBS opened below the 25- and 50 DMA and have crept up higher, but it's still Down 2bps from yesterday's close. Yesterday, the MBS lost more ground and closed just above it's 25 DMA. This combined loss of support has led Lenders to price Mortgage Rates a bit higher today. Yields are testing both it's floor and ceiling and moving within it's range. … (0 comments)
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mortgages: Daily Market Report 10/8/20
- 10/08/20 08:42 AM
http://MikesDailyMarketReport.com: Initial Jobless Claims rose this week to 840k; up from last week's initial of 837k, which was revised a bit higher to 849k. Stocks are in Positive Territory, as Investors are feeling more renewed optimism on some sort of Stimulus package coming sooner, than later. MBS started the morning higher, but has pulled back some; and is Down 2bps. Mortgage Rates remain Unchanged. There are some possible positive signs developing for some improvement (see video on that). Also, Yields are being held in check with it's Technical level (just under) the 0.79%; and it's currently at 0.77%.
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mortgages: Daily Market Report 10/7/20
- 10/07/20 08:52 AM
http://MikesDailyMarketReport.com: The only economic data to report will come out at 11am PST, which is the Meeting Minutes from the FOMC last month. Stocks rebounded from yesterday's close; and are currently Up today. Last night, about an hour before Market close, President Trump tweeted out that he instructed the Republican Senate to halt negotiations with the Democrats on a second Stimulus package until after the election; and accused them of dealing in bad faith. However, a few hours later (after Market close), he tweeted that he'd be more than willing to send out individual Stimulus components (including the $1200 individual checks, … (0 comments)
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mortgages: Daily Market Report 10/6/20
- 10/06/20 09:30 AM
http://MikesDailyMarketReport.com: This week is light for economic data, which we have none to share today. Stocks are currently in Negative Territory, as Fed Chair Powell presented a speech this morning and reiterated the Fed's stance on more stimulus being needed from Congress; and it's better to give too much, than not enough. Otherwise, the economy will grow more slowly compared to receiving more stimulus; and more businesses may close and/or file for bankruptcy. MBS is fighting to stay above it's double floor of support (25- and 50 DMA); and currently Up 2bps. There's a lot of uncertainty in the Market, as … (1 comments)
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mortgages: Daily Market Report 10/5/20
- 10/05/20 10:17 AM
http://MikesDailyMarketReport.com: The ISM Non-Manufacturing PMI dipped a little in September, as it went from 57.8 to 56.9. This is still in expansion territory! Stocks are Up, as it is being reported on President Trump's recovery from COVID is improving, and he may be released from Walter Reed today. Investors are reviewing the Election Polls and any hope for a Stimulus Package to be done soon. Meanwhile, MBS has Dropped 22bps and have been testing it's double-layer of support (25- and 50 DMA). This will tend to lead to a little bit higher Mortgage Rates today (usually about 0.125% to the rate). … (0 comments)
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mortgages: Daily Market Report 10/2/20
- 10/02/20 10:59 AM
http://MikesDailyMarketReport.com: The Jobs data was a bit disappointing today, as the BLS reported that only 661k jobs were created in September. Even though, the Unemployment Rate dropped down to 7.9%, the numbers indicated that fewer people are participating in the Labor Market, as the Labor Participation Rate dropped a bit. The Average Work Week slightly gained from 34.6 hours per week, to 34.7 in September; and the Average Hourly Earnings rose only 0.1%. However, Consumer Sentiment rose from 78.9 to 80.4 in September. Lastly, Factory Orders rose 0.7% in August. Stocks are Down on the news of POTUS and FLOTUS' recent … (0 comments)
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mortgages: Daily Market Report 9/29/20
- 09/29/20 09:08 AM
http://MikesDailyMarketReport.com: The Case Shiller Home Price Index jumped from 4.3% YoY appreciation in June to 4.8% in July. Nice spike! Also, Consumer Confidence jumped from 86.3 in it's previous report to 101.8 in it's September report. Stock indices are all in Negative Territory, as Investors pull back from last 2 days of buying, and before tonights US Presidential Debates. Meanwhile, Congress is still working toward another Stimulus round. The Democrats released $2.2 Trillion plan, which is meeting some resistance from Senate, as many want it scaled back a bit. Mnuchin and Pelosi continue dialogue that will hopefully find a bill that … (0 comments)
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mortgages: Daily Market Report 9/28/20
- 09/28/20 09:40 AM
http://MikesDailyMarketReport.com: There are no economic data to report today; but this week's Jobs Reports will be our Primary focus. Stocks are Up this morning. It's partly due to buyers coming back into the Market after several days (last week) of selling and some optimism for a 2nd Stimulus Package, based on recent comments by Nancy Pelosi. China reported increased profits in their Industrial Sector, which is generating better sentiment to improving global economy. Also, a Federal Judge blocked the ban on TikTok, as US and China have been facing rising tensions. MBS started the day lower; however, it's currently Up 3bps. … (0 comments)
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mortgages: Daily Market Report 9/25/20
- 09/25/20 09:38 AM
http://MikesDailyMarketReport.com: Durable Goods Orders' MoM for August disappointed, as it only represented 0.4% growth; after a 11.7% for July. The CapEx rose 1.8%, which wasn't too bad. This is the data for Durable Goods Orders without the big ticket items (like transportation, defense, air planes), which can make the numbers a bit lopsided. Stocks are trading in Positive Territory this morning without much headline news to report. Investors are still looking toward some resolution for another Stimulus Package from Congress. MBS is Up 13bps, breaking above it's double-layer of resistance (25- and 50 DMA). This has led Lenders to provide better … (0 comments)
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mortgages: Daily Market Report 9/24/20
- 09/24/20 09:25 AM
http://MikesDailyMarketReport.com: Weekly Jobless Claims were revised higher by 6k in last week's report; and came in about 4k higher this week from the revised number, at 870k. A silver lining is New Home Sales, as they jump to 1.01 million annual units for August. This is the first time since 2006 since they've topped the 1 million mark! Stocks have been tip-toeing back-and-forth between positive and negative territory this morning; however, as I did this video, all 3 indices were in Positive Territory. The Market is being influenced by the gridlock with Congress on a 2nd CARES plan and worries over … (0 comments)
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mortgages: Daily Market Report 9/23/20
- 09/23/20 09:46 AM
http://MikesDailyMarketReport.com: We have reports from Markit PMI for the month of September to report today. The Market Manufacturing PMI rose from 53.1 to 53.5; and the Markit Services dipped from 55.0 to 54.6. These are MoM from August to September numbers; and anything above 50 represents expansion. Stocks are Down, even though they initially started positive, this morning. It's a culmination of a variety of headline news, which has Treasury Secretary Mnuchin and Fed Chair Powell testifying for the 2nd day before another subcomittee in the House. Johnson & Johnson becomes the 4th manufacturer to begin the final stage for COVID … (0 comments)
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mortgages: Daily Market Report 9/22/20
- 09/22/20 08:49 AM
http://MikesDailyMarketReport.com: Existing Home Sales improved from 5.86 million annualized units in July to 6.00 million in August. Meanwhile, Stocks are trading in Mixed Territory, as the DOW is lone index in the Red. Some of the sentiment from yesterday is continuing into today's trading. Investors are watching for possible renewed lockdown measures in Europe; and the heated debates between the 2 political parties regarding the replacement of RBG and any stimulus packages. Treasury Mnuchin and Fed Powell are testifying before House Finance Committee this morning. MBS is only Up 2bps, so Mortgage Rates remain Unchanged today. Yields having swings that challenge … (1 comments)
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mortgages: Daily Market Report 9/21/20
- 09/21/20 09:31 AM
http://MikesDailyMarketReport.com: There are no economic data to report today, so Markets are looking to the headlines today. Stocks are WAY Down this morning on concerns of more restrictions in Europe, as they saw some of their COVID Cases rise. Also, a major news article from Buzzfeed, which other outlets followed, on some Major Banks working with some very notorious people (not in a good way) on Money Laundering schemes. Also, Investors are seeing if there is any impact on the death of US Justice Ginsberg and possible replacement, as politics heats up. They're also watching for any news on an Stimulus … (0 comments)
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mortgages: Daily Market Report 9/18/20
- 09/18/20 09:41 AM
http://MikesDailyMarketReport.com: The Consumer Sentiment improved so far in September, as it jumped to 78.9 from August's 74.1. The Leading Economic Indicator had a positive revision in July, going from 1.4% to 2.0%; however, it dropped to 1.2% in August. Stocks are all in the Red this morning, threatening to ruin this week's gains in the Market. There is a Quadruple Witching in today's trading action, which will create a lot of this volatility in the Stock Market. We had a few Fed Speakers speak today, which are having some impact, especially with the Bond Market, as Fed Member Bullard discussed possibilities … (0 comments)
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mortgages: Daily Market Report 9/17/20
- 09/17/20 09:23 AM
http://MikesDailyMarketReport.com: The initial Jobless Claims reported 860k people applying for first time unemployment last week, which is down from 893k in it's previous report. Housing Starts pulled back in August, as it went from 1.49 million annualized units in July to 1.42 million in August. Also, Building Permits dropped from 1.48 million in July to 1.47 million in August. Manfacturing in Philadelphia region was down a little bit, but still in decent territory, in it's September report for Philly Fed Manufacturing, as it came in at 15.0. Stocks are Down this morning, as Investors' mood were less optimistic of a quick … (3 comments)
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mortgages: Daily Market Report 9/16/20
- 09/16/20 09:06 AM
http://MikesDailyMarketReport.com: Retail Sales MoM of 0.6% was a bit of disappointment for Investors this morning; and when you exclude Autos, it only went up 0.7% for August. Not to be surprised, but NAHB Home Builders Index rose from 78 to 83 in September, as confidence is rising among Home Builders. Business Inventories only increased by 0.1% in July. Stocks have been in Mixed Territory, but have since moved in Positive Territory, as it awaits the FOMC Announcement and it's Press Hearing. This will be a very interesting Press Hearing after the Fed announced a "Big" change to their policy about 2.5 … (0 comments)
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mortgages: Daily Market Report 9/15/20
- 09/15/20 10:08 AM
http://MikesDailyMarketReport.com: The Manufacturing in the NY region spiked in September, as the Empire State Index reports it went from 3.7 in August to 17.0 in September. Industrial Production Index reported an increase of 0.4% in August; while Capacity Utilization improved from 71.1% in July to 71.4% in August. Stocks are Up this morning on some Tech News, as some Mergers being announced (like NVidia's announcement); and Apple will present some of their new product lines today. The FOMC begins their 2 day meeting today and provide their announcement tomorrow. This will be an interesting meeting, as media and investors have a … (0 comments)
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mortgages: Daily Market Report 9/14/20
- 09/14/20 09:07 AM
http://MikesDailyMarketReport.com: We don't have any Economic Data to report today, but the rest of the week (starting tomorrow) will be full of reports. Today, Stocks are taking their queues from the headline news (namely reported over the weekend). Astra Zeneca announced they'll be re-starting their vaccine trials, after a pause when one of the patients mysteriously became ill. Pfizer reported that they're near end of trials and may have vaccines out by end of year. Also, it appears that Oracle may have become the winner of the TikTok sweepstakes, as several US companies were competing for it's rights. It was facing … (0 comments)
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mortgages: Daily Market Report 9/11/20
- 09/11/20 09:54 AM
http://MikesDailyMarketReport.com: Today, we received data on inflation for Consumers with the Consumer Price Index, which had a MoM of 0.4% in Aug.; as did it's Core CPI (excluding food and energy). The Core CPI's YoY rose from 1.6% to 1.7%. We'll keep an eye on this data, as we'll want it to plateau at some point, and not go out of control. Meanwhile, there is light trading today in Stocks, which are all currently in Positive Territory. There is still some correction/re-balancing going on (especially with Tech Stocks); and Investors are growing pessimistic on a new Stimulus Bill prior to the … (1 comments)
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http://MikesDailyMarketReport.com: The Consumer Price Index, or CPI, rose only 0.2% in September, as did it's Core CPI; however, it's YoY rose from 1.3% to 1.4% and it's Core remained Unchanged at 1.7% YoY. Stocks started the Morning in Positive Territory, as Q3 Corporate Earnings Reports begin to be released. Today, we're seeing a lot of Banks and Financial Institutions releasing their's. Johnson & Johnson paused their vaccine trials, as they experienced some issues. Apple and Amazon begin their special events today, as Apple is set to announce their new 5G capable iPhones and Amazon begins their 2 day Sales Event, Prime … (0 comments)
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