Daily Market Report 7/9/19

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Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: The NFIB Small Business Index dropped from 105.0 in May to 103.3 in June. This index is a gauge with the Small Business sector's confidence. Job Openings shrunk from 7.4 million in April to 7.3 million in May. Stocks are trading in Mixed Territory, as NASDAQ remains the lone index in Positive Territory. Jerome Powell is speaking on Stress Tests on Banks today, but will be meeting with Congress on Wednesday and Thursday. Trading will expect to be volatile over the next 2 days, as investors weigh thoughts on rate cuts in July. Right now, as stocks seem a bit risky, they're being dropped a bit to minimize their risk. There were Preliminary Tariff discussion proposed on Steel from Mexico and China, as counter-measures to Anti-Dumping. Also, trade tensions are heating up between S Korea and Japan that may affect Electronic Makers, like Apple and Huawei. The dispute stems from a recent Court ruling in S Korea that favors retribution on Nippon Steel to pay for it's forced labor during the early 1900's. Japan is upset that the Gov't didn't intervene, as they felt the retribution was paid and resolved in 1965. Meanwhile, MBS is down 3bps and drifting toward it's 25 DMA. Currently, there's No Change to Mortgage Rates; however, we want to watch this! If we drop below the 25 DMA, then it's next support is about 50bps lower at the 50 DMA. Yields are adding to the pressure, as they are pushing up against it's 25 DMA and sitting at 2.04%.

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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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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted and up to date. Best of luck!

Jul 09, 2019 12:45 PM #1
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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

The bond market is predicting a 100% chance of a rate cut. Powell & Co have quite the decision to make.

Jul 09, 2019 02:49 PM #2
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Rainmaker
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Mike Bjork

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