Daily Market Report 1/11/19

By
Mortgage and Lending with American Pacific Mortgage NMLS #275652/1850

http://MikesDailyMarketReport.com: Today, only the Consumer Price Index data was released on the Economic Calendar for the month of December. CPI dropped 0.1% from November, and it's YoY dropped from 2.2% to 1.9% due to the drop in Oil prices. The Core CPI (removing food and energy) rose 0.2%, which it's YoY remained unchanged at 2.2%. This report is important to the Fed when gauging inflation on the consumer level, even though the PCE is favored more so. This is the data that helps to determine if they continue with their rate hikes. They like to see that the YoY level to keep at the 2.0% level, which is healthy for the economy. Stocks are rising off their earlier lows this morning (still in negative territory at the time this was created). MBS is benefitting from the "flight to safety", as investment dollars are moving from Equities to Bonds. It's currently up 17bps, which is an improvement in Mortgage Rates. Yields have slide down to 2.70%.

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Topic:
Mortgage / Finance
Location:
California Los Angeles County Redondo Beach
Groups:
South Bay Realtors
Tags:
interest rates
mortgages
home buying
home loans
refinance
interest rate trends

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