Daily Market Report 7/12/19

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

http://MikesDailyMarketReport.com: Wholesale Inflation remains moderate in June, as it rose 0.1%, and it's YoY dropped from 1.8% to 1.7%. But if you remove uncontrollable variables, as food and energy, the we have the Core PPI, which carries more weight. It rose 0.3% in June, however, it's YoY remained at 2.3%. Stocks continue their Upward trend this morning, after Investors were satisfied with staements made by Fed Chair Powell during the past 2 days of Congressional Testimony. A bad 30 year Bond Auction yesterday afternoon sank the Bonds/MBS, as it closed down 34 bps, and led Lenders to reprice for higher Mortgage Rates. This morning, we're Up 9bps, so Mortgage Rates remain Unchanged from yesterday afternoon's repricing. Yields have climbed up to 2.12% now. Both have broken their Trend lines, which will create a Short-Term Speed Bump before we see further improvements in our Mortgage Rates. We may see a little more worsening before it gets better in the Short-Term.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

Check out my Facebook page for Real Estate Agents at FreeHelpForCARealEstateAgents

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
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

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
761,509

Mike Bjork

Ask me a question
*
*
*
*
Spam prevention

Additional Information