Daily Market Report 6/26/19

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Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: Durable Goods Orders are still dragging, as Boeing's (737 Max) woes continue to bring down those numbers. April's numbers were revised lower, as the revision led from -2.1% to -2.8%; and it declined 1.3% in May. However, if you remove Transportation, then it improved from 0.0% in April to 0.3% in May. Stocks are in a good mood today, as comments by Steven Mnuchin on CNBC were the US and China Negotiations are 90% completed. However, that hasn't changed prior to the stall in the negotiations, as we were 90% completed at that point. President Trump and Jinping plan to meet Saturday at the G20 Summit in Japan, as they discuss bridging the gap between the two nations. As a result of the positive news for stocks, this is creating more pressure for MBS, as they are currently down 11bps. This has resulted in a slight worse in pricing for Mortgage Rates. Yields are clawing their way back to the (newly turned) Ceiling of Resistance at 2.03%.

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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

It's starting to look like a trade agreement has been priced into the market. Any slip up this weekend could have some damaging effects next week.

Jun 26, 2019 01:03 PM #1
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Mike Bjork

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