refinance: Daily Market Report 3/21/19
- 03/21/19 08:36 AM
http://MikesDailyMarketReport.com: Weekly Jobless Claims rebounded a bit from last week's numbers, going from 230k to 221k. Obviously, this is data we're watching to see if it continues to rise, as it will indicate a recession in the near future. Manufacturing in the Philadelphia region rebounded quite nicely in March, as it came back from -4.1 to +13.7. Also, Leading Indicators picked up 0.2% in February, which indicates economy improving. Stocks are Up on the Fed's very dovish announcement yesterday, as they indicated there will not be any rate hikes in 2019 and the Balance Sheet reduction will end in September. Also, … (0 comments)
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refinance: Daily Market Report 3/20/19
- 03/20/19 08:15 AM
http://MikesDailyMarketReport.com: The Fed wraps up their 2 day meeting today, as Fed Chair Jerome Powell will give his announcement around 11:15 am PST. Today's announement is expected to go similar to it's previous announcement; and Investors will seek clues on the Fed's forecasts and Balance Sheet unwind. Stocks are Down this morning ahead of this announcement. The US and China Trade Talks continue, as there was a report that China was pushing back on some of the US Demands. We're at the nitty gritty aspects of the final details, so these objections will be commonplace at this stage of negotiations. It's … (1 comments)
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refinance: Daily Market Report 3/19/19
- 03/19/19 08:18 AM
http://MikesDailyMarketReport.com: Factory Orders were up only 0.1% in January, off from it's forecast of 0.4%, and stronger hints of a slowing economy. Stocks are Up this morning, as the Fed begins it's 2 day meeting today. Tomorrow, Fed Chair Powell will give his announcement. It's expected to be very similar to January's announcement. MBS is Unchanged from yesterday, so Mortgage Rates are also Unchanged. Yields have risen a little bit to 2.62% now.
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refinance: Daily Market Report 3/18/19
- 03/18/19 07:47 AM
http://MikesDailyMarketReport.com: Home Builders Index, which gauges the confidence level with Home Builders, remained Unchanged from previous month in March. Stocks are trading in Positive Territory this morning, as Investors keep an eye on the Main Headlines over the past week: Federal Authorities investigating the Boeing 737 Max planes; reports have US/China Summit possibly being bumped to June now; and the FOMC will begin it's 2 day meeting tomorrow, as Fed Chief Powell gives his announcement on Wednesday. MBS is currently down 3bps, so Mortgage Rate remain Unchanged from Friday's pricing. Yields have climbed Up to 2.60%.
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refinance: Daily Market Report 3/15/19
- 03/15/19 08:21 AM
http://MikesDailyMarketReport.com: Manufacturing seems to be weakening, as we have 3 data points to view today. Starting with the Empire State Index (Manufacturing in the NY region) dropped from 8.8 to 3.7 in March, as most forecasts had it rising to approximately 10. Industrial Production rose only 0.1% in February, as most forecasts called for 0.4% increase. The Capacity Utilization dropped from 78.3% to 78.2% in February. Again, forecasts called for a higher number (78.5%). However, some better news, is Job Openings increased in January from 7.5 million to 7.6 million. Also, Consumer Sentiment rose from 93.8 to 97.8 in March. Stocks … (0 comments)
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refinance: Daily Market Report 3/14/19
- 03/14/19 08:40 AM
http://MikesDailyMarketReport.com: Initial Jobless Claims rose 6k from last week's number to 229k. New Home Sales came in at 607k annualized units for the month of January. Stocks are in Negative Territory on Geo-Political News, as more disappointing industrial output data comes out of China. Also, there seems to be a delay in the US/China Trade Talks, which have Investors a bit nervous. There is another Brexit vote today, which will be upon whether they delay the exit on the 29th or continue as on without a Trade Agreement with the EU. MBS is Unchanged from yesterday, as Mortgage Rates remain the … (0 comments)
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refinance: Daily Market Report 3/13/19
- 03/13/19 08:49 AM
http://MikesDailyMarketReport.com: We have a few items on the Economic Calendar today. We'll start with the Durable Goods Orders for January, which rose 0.4% on forecasts of it dropping 0.1%. The Core Capital Goods Orders broke it's pattern of declines over the past few months and rose 0.8% in January. This index gauges Businesses reinvesting in their own business. PPI rose only 0.1% in February. This is the inflation data from the Wholesale sector. Construction Spending rose 1.3% in January. Stocks are trading in positive territory this morning on the economic data, as they watch the Geo-Political news on the Brexit and … (2 comments)
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refinance: Daily Market Report 3/12/19
- 03/12/19 08:31 AM
http://MikesDailyMarketReport.com: Confidence with Small Business Owners gained some strength in February, as the NFIB Small Business Index climbed from 101.2 to 101.7. Consumer Inflation dropped a smidge in February. Consumer Price Index went up 0.2%, while it's YoY dropped from 1.6% to 1.5%. When you remove food and energy, then you have the Core CPI, which is what the Fed reviews more closely. The Core CPI rose only 0.1% in February, and it's YoY dropped from 2.2% to 2.1%. Stocks are Up again this morning, as the DOW again is still being weighed lower due to Boeings' stock loss. There is … (1 comments)
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refinance: Daily Market Report 3/11/19
- 03/11/19 08:37 AM
http://MikesDailyMarketReport.com: Retail Sales rebounded a bit in January, moving up 0.2%. Retail Sales, which excludes Autos, enjoyed more improvement, which went up 0.9%. These improvements were much needed after a very dismal December, which was the worst data in the last 10 years. Business Inventories rose 0.6% in December. Stocks are Up this morning on the data, even though the DOW is being weighed down abit by it's biggest component recipient, Boeing, after another Max 8 crashed in Ethiopa (2nd in past 6 months). Our thoughts and prayers goes out those families affected by the crash. MBS is down only 3bps … (0 comments)
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refinance: Daily Market Report 3/8/19
- 03/08/19 08:41 AM
http://MikesDailyMarketReport.com: Today is the BIG Day for Jobs Data! The Non-Farm Payroll surprised everyone with 20k new Jobs in February, whereas they were expecting it around 175k. A closer look at this report shows that the weakness came from the Hospitality and Construction Sectors, which can be heavily influenced by weather. If you remember correctly, we had some pretty extreme cold weather in February (even MN had -65 degrees at one point). So, this could be an anomaly, which we'll continue to monitor. Also, keep in mind we had a HUGE spike in January, whereas the Jobs came in at 311k, … (1 comments)
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refinance: Daily Market Report 3/7/19
- 03/07/19 08:32 AM
http://MikesDailyMarketReport.com: The Big Jobs Data will be released tomorrow, but today, we have the Weekly Jobless Claims. The Weekly Jobless Claims improved a little bit, going from 226k the previous week to 223k last week. Forecasts called for 225k. Productivity for the 4th Qtr also, improved slightly. It's 3rd Qtr was up 1.8%, while 4th Qtr grew at 1.9%. Unit Labor Costs also grew at 2.0%, up from from the 1.6% in the 3rd Qtr. Stocks are down as news of the ECB reducing their 2019 forecasts for the EC from 1.7% to 1.1% and trying their own stimulus for the … (0 comments)
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refinance: Daily Market Report 3/6/19
- 03/06/19 08:32 AM
http://MikesDailyMarketReport.com: The ADP, the first of the Jobs data this week, came in a little lower than forecasts for February. It came in at 183k new jobs in the Private Sector, while forecasts called for 187,500. Later today, the Fed Beige Book will be released. Stocks are down, as they're awaiting some catalyst to move it in one direction or another. There will be a few Fed Members speaking today. MBS is currently Up 2bps. Based on yesterday's rally, some Lenders may price their Mortgage Rates a bit better today; at worst, they're Unchanged. Yields had slid down to 2.70%.
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refinance: Daily Market Report 3/5/19
- 03/05/19 07:46 AM
http://MikesDailyMarketReport.com: We have mixed data for the Service Industries. The Markit Services PMI went from 56.2 to 56.0 in February; whereas, the ISM Non-Manufacturing went from 56.7% to 59.7%. New Home Sales improved from 599k annualized units sold in November to 621k annualized units sold in December. This was better than the 600k forecast. Stocks are down on news that China lowered their economic growth to the range of 6.0% to 6.5%. They announced a few additional stimulus measures to spike it's economy. We have a few Fed Members speaking today, which Fed Member Rosengren mentioned that the concern for the … (1 comments)
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refinance: Daily Market Report 3/4/19
- 03/04/19 08:48 AM
http://MikesDailyMarketReport.com: They released the Construction Spending for December, which is one of the delayed reports due to the Gov't Shutdown. It dropped 0.6% on forecasts of it going up 0.3%. Stocks started the day in Positive Territory on news of the US/China Trade Talks is near completion; however, it just recently turned to Negative Territory. MBS is up 6bps, which Mortgage Rates remain Unchanged from Friday's pricing. Also, Yields remain Unchanged at 2.75%.
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refinance: Daily Market Report 3/1/19
- 03/01/19 09:17 AM
http://MikesDailyMarketReport.com: We have a lot of data on the Economic Calendar today. We're still facing delays on much of the data due to the past Gov't Shutdown. Personal Income rose 1.0% in December; however, Consumer Spending dropped 0.5%. PCE rose only 0.1% in December, while it's YoY dropped from 1.8% to 1.7%. The Core Inflation rose 0.2%, while it's YoY remained at 1.9%. This is the Fed's favorite gauge for inflation and the Core is within it's 2.0% Target Rate. Markit Manufacturing PMI dropped from 53.7 to 53.0 in February, while the ISM Manufacturing dropped from 56.6% to 54.2%. Consumer Sentiment … (1 comments)
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refinance: Daily Market Report 2/28/19
- 02/28/19 09:01 AM
http://MikesDailyMarketReport.com: Initial Jobless Claims moved from 217k from previous week to 225k last week. It came in at forecast. GDP came in a bit hotter than expected. It came in at 2.6%, whereas, forecasts were calling 1.9%. This report was for the 4th Qtr of 2018. Manufacturing in Chicago improved in February, as well, which the Chicago PMI jumped from 56.7 to 64.7. Even though the Economic data came in very good, Stocks are still down. Geo-Political news is bringing it down. MBS is down 16bps, which Mortgage Rates rose a bit this morning from yesterday's pricing. Like it's counter-part, the … (1 comments)
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refinance: Daily Market Report 2/27/19
- 02/27/19 09:01 AM
http://MikesDailyMarketReport.com: Pending Home Sales jumped up 4.6% in January, as it points to a pretty strong Spring Home Buying Season. Factory Orders rose only 0.1% in December, which disappointed, as it was forecasted to rise 0.5%. Stocks are Down this morning, as they may be losing some steam (been in an Over-bought position since Mid-January). Fed Chair Powell is giving his 2nd Testimony to Congress today. Lighthizer is giving his Testimony to the House Ways & Means Committee regarding the Trade Talks with China. Presidents Trump and Un are meeting in Hanoi today. There appears to be some building tension between … (2 comments)
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refinance: Daily Market Report 2/26/19
- 02/26/19 08:40 AM
http://MikesDailyMarketReport.com: We have some housing data to report, which 2 of the items were from the delayed reports due to the Gov't Shutdown. Housing Starts dropped from 1.214 million annualized units to 1.078 million. However, the Building Permits rose from 1.322 million annualized units to 1.326 million. Case-Shiller Home Price Index dropped from 5.1% to 4.7% YoY in December. Consumer Confidence soared in February, going from 120.2 to 131.4. Fed Chair Jerome Powell is giving his Testimony before the Senate this morning, which provided a boost to Stocks. They began the morning in the Red after some disappointing Earnings results, but … (1 comments)
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refinance: Daily Market Report 2/25/19
- 02/25/19 09:28 AM
http://MikesDailyMarketReport.com: The only data to report from the Economic Calendar is from the delays due to the Gov't Shutdown. The Wholesale Inventories rose 1.1% in December. Stocks are Up due to recent activity/tweets regarding the US/China Trade Talks that continued throughout the weekend. President Trump tweeted that the March 1 deadline for the Tariffs have been lifted and a lot of progress has been made to warrant it. It's appearing like we're nearing a wrap up of talks, as President Trump mentioned that he and President Jinping would complete the deal at Mar-a-Largo once it's reached that point of completion. MBS … (1 comments)
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refinance: Daily Market Report 2/22/19
- 02/22/19 08:49 AM
http://MikesDailyMarketReport.com: There's no data scheduled on the Economic Calendar this morning; however, the day is fill with several Fed Speakers today. Stocks are rebounding after yesterday's losses. President Trump is scheduled to meet with the higher level Chinese delegation today, as signs point to progress being made on the Trade Talks. MBS is rebounding today, as well, as it's up 14bps. Mortgage Rates have improved a little bit today. Yields are now down to 2.66%.
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http://MikesDailyMarketReport.com: Weekly Jobless Claims rebounded a bit from last week's numbers, going from 230k to 221k. Obviously, this is data we're watching to see if it continues to rise, as it will indicate a recession in the near future. Manufacturing in the Philadelphia region rebounded quite nicely in March, as it came back from -4.1 to +13.7. Also, Leading Indicators picked up 0.2% in February, which indicates economy improving. Stocks are Up on the Fed's very dovish announcement yesterday, as they indicated there will not be any rate hikes in 2019 and the Balance Sheet reduction will end in September. Also, … (0 comments)
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