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Daily Market Report 5/22/19

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Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com: The only item on the Economic Calendar today is the FOMC Minutes, which will be released at 11:15am PST. Investors are eager to review the Minutes of the Feds' last meeting and look for clues on their thoughts on the economy, rate movement and US/China. Stocks are Down, as they await the FOMC Minutes. Also, both China and US appear to be readying themselves to dig in for the long haul, as tensions continue to escalate between the two. MBS is UP 8bps, but Mortgage Rates remain Unchanged. Yields are currently sitting at 2.40%.

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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, ABR,CNE,CRS,ePro,PSA,RENE,SRS

Thank you for keeping us posted and up to date. Best of luck!

May 22, 2019 12:34 PM
Mike Bjork

Thanks, Jeremy!

May 23, 2019 08:56 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

It was reassuring that even if the economy improves the Fed will keep a hands-off approach.

May 22, 2019 02:25 PM
Mike Bjork

I agree!  There's not much more they can do, other than possibly cut rates.  The whole issue with China will be interesting, as that may not only slow down the economy, but possibly create higher inflation, as much of the cost for consumer goods will rise.  The Fed will need to tread very carefully, as they won't want to let inflation get out of control, but also need to keep economy moving along.

May 23, 2019 08:59 AM
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