Daily Market Report 6/28/19

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

http://MikesDailyMarketReport.com: A lot on the Economic Calendar today! Starting off with the Personal Income for the month of May, which was up 0.5%; whereas, Consumer Spending was up 0.4% in May. Personal Consumption Expenditure was Up 0.2%, as was the Core PCE (also called Core Inflation) Up 0.2%, for May. However, the PCE's YoY dropped from 1.6% to 1.5%; and the Core PCE remained Unchanged at 1.6%. The Fed has a target rate of 2.0%, so this is well below it's target rate. Could be another reason for Fed to cut Rates in July. Manufacturing contracted in the Chicago Region, as the Chicago PMI dropped from 54.2 to 49.7 in June. The final number for the Consumer Sentiment rose from 97.9 in May to 98.2 in June. Stocks are Trading in Positive Territory this morning, but it's light trading. For the week, they may close Unchanged, similar to MBS. Investors are waiting on the meeting of President Trump and President Xi, which is tomorrow. Nobody expects a deal to be completed, but looking to see if US holds off on additional Tariffs and get back to the table. MBS are mostly unchanged, as they are Up only 2bps, and Mortgage Rates remain Unchanged from yesterday's pricing. Yields are currently at 2.0%.

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Location:
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Groups:
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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

Tomorrow's meeting with Xi at the G20 will set the tone for the markets next week. Should be interesting.

Jun 28, 2019 12:00 PM #1
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