Daily Market Report 1/17/19

Mortgage and Lending with Pinnacle Home Loan NMLS #275652/1820

http://MikesDailyMarketReport.com: Housing Starts and Building Reports data will be delayed due to the Gov't Shutdown. Today, we have the Weekly Jobless Claims, which came in at 213k. Today's number is important because it represents the "Sample" number for the BLS' Jobs Report for January, which should look strong based on this number. Also, Manufacturing improved in the Philly area, which the Philly Fed Index increased from 9.1 to 17. This was on the heels of a disappointing number for the NY area yesterday. Stocks started trade in the Red, but have since improved to Mixed. Banks continue to disappoint in Q4, as Morgan Stanley missed, and comments by French Bank Societe Generale, only reinforced what most Banks are stating is a poor Capital Markets is dragging their numbers down. MBS is currently down 6bps and testing the floor of support again. Yields have risen to 2.74%. Mortgage Rates have remained steady most of this week, as it trades in a sideways pattern.

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interest rates
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