Daily Market Report 5/13/19

By
Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: No economic data to report today. The driving force behind the Markets is a continuation from last week's tension in Trade talks between US and China, which have become more heightened. After US raised Tariffs on $200 Billion of Chinese goods from 10% to 25%, the Chinese did the same on $60 Billion US goods. The US is threatening to tariff the remaining $325 Billion Chinese goods, if they continue to retaliate; whereas, China is coming back with other retaliation measures, such as dumping US Treasuries. Obviously, that could disrupt the Markets tremendously, as China is one of the largest holders of US debt. Stocks are taking a bloodbath, as the DOW is down more than 500 this morning. MBS is Up 9bps, so couples with last week's gains, will lead Lenders to better pricing for Mortgage Rates. Yields have slid down to 2.41%.

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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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Rainmaker
1,574,262
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Knowledge is King. Thank you for sharing this with us. Have a great week!

May 13, 2019 08:39 AM #1
Ambassador
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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

This trade war is a self inflective wound that could spiral out of control and negatively both economies for a long time to come.

May 13, 2019 01:47 PM #2
Rainmaker
749,292
Mike Bjork
CMG Financial - Redondo Beach, CA

We both will definitely be affected badly!  I guess time will tell, if this was worth it or not.

May 14, 2019 08:05 AM #3
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Rainmaker
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Mike Bjork

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