Daily Market Report 5/10/19

Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: Consumer Price Index rose 0.3% in April, as it's YoY increased from 1.9% to 2.0%. When you remove the volatile and uncontrolled substance, as Food and Energy, then you have the Core CPI, which rose 0.1%; and it's YoY rose from 2.0% to 2.1%. As have the week went, Stocks have been reacting on the news on the tensions surrounding the China/US Trade Talks. The 25% Tariff on $200 Billion of Goods went into effect at 12:01am today. However, there will be a slight grace period, as the goods in transit will still be under the 10% Tariffs. It takes approximately 2 weeks for transits to cross the ocean. Meanwhile, China has promised to retaliate. President Trump has also brought up adding the 25% Tariffs on the remaining $325 Billion Goods that will typically come across, so it will be 25% across the board. Negotiations were brief yesterday, so they're hoping to get back on track today. There's not much movement with MBS, as they're only Up 2bps, so Lenders kept Mortgage Rates Unchanged. Yields are up to 2.44% now.

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hopefully the tariff issue will get resolved before those goods leaving China don't get taxed by the time they arrive in the US. Then all bets are off.

May 10, 2019 02:12 PM #1
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