Daily Market Report 7/8/19

Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: There's no economic news scheduled on the Calendar today. Stocks are trading in the Red this morning, as Investors are repositioning their thoughts on the upcoming FOMC at the end of the month. The Jobs data on Friday were better than expected, which thwarted any notion of a 0.5% Rate Cut; however, I do think the Fed still may cut (by 0.25%) at it's upcoming meeting. Fed Chair Jerome Powell is scheduled to speaki 3 times, so Investors will be listening to him very carefully of any clues. MBS is currently Up 6bps, after it pulled back from earlier gains, so I don't think you'll see any change in Lender Pricing for Mortgage Rates this morning. Yields are currently hanging just beneath it's Ceiling of Resistance at 2.03%.

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