Daily Market Report 6/7/19

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Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: Nonfarm Payroll really disappointed in May, as only 75k new jobs were created. Also, there were revisions from the previous 2 months, which were lowered by 75k combined. Unemployment remained unchanged at 3.6%. Average Hourly Earnings rose 0.2% in May. Wholesale Inventories rose 0.8% in April. Stocks are trading in Positive Territory, as today's Bad News (in terms of disappointing Job Numbers) is feeling like Good News because the sentiment is the Fed will cut Interest Rates sooner than later (possibly this summer). There's been some progress made on the talks with Mexico to help curb the influx of people trying to cross the US Borders. Not sure if it's enough progress for President Trump to halt the Tariffs on Monday. Not much has been changed between US and China. The People's Bank of China was commented that they have enough tools to be able to stimulate their economy even during a Trade Spat with the US. MBS is Up 17bps, so Mortgage Rates Improved today. Yields continue their decline, as they reach 2.07%.

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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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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

Bad is good in this market. Terrible job numbers will hopefully lead to a rate cut. At least that's what the market is signaling today.

Jun 07, 2019 12:23 PM #1
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Mike Bjork

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