Daily Market Report 7/1/19

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Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: Markit Manufacturing PMI rose from 50.1 in May to 50.7 in June. ISM Manufacturing Index dropped from 52.1% in May to 51.7% in June. Globally, many countries (like China, Japan and Germany) are contracting in Manufacturing. Constructions Spending dropped 0.8% in May. This is much lower than it's forecasts of +0.3%. Stocks are trading well into the Positive Territory, as they are feeling good after the meeting between President Trump and President Xi. Apparently, there's a truce, and they'll pretty much go back to negotiations from where they left off. The restrictions on Huawei will be lifted somewhat and China will buy large amounts of Farm goods from US. Not much details have been released about the talks. MBS is currently Up 3bps, so there's no change to Mortgage Rates today. Yields are trying to rise again, which they're currently sitting at 2.01%.

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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
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Mike,  Good job on the market report and also what is going on in the world.  

Jul 01, 2019 08:54 AM #1
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Rainmaker
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Mike Bjork

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