http://MikesDailyMarketReport.com: Housing Starts dropped from 1.265 million annualized units in May to 1.253 million in June. Building Permits dropped from 1.299 million annualized units in May to 1.220 million in June. The Fed Beige Book, which reports the Fed's economic view of the various regions around the US, will be released at 11am PST. Stocks are in Mixed Territory this morning, as more Corporate Earnings Reports are being released. B of A seems to be getting the brunt of it today even though it appeared that it had a lot of positive aspects to it's report. Also, President Trump tweeted yesterday that the US and China are still a long ways off from reaching an agreement, and the Tariffs are still on the table. Investors are concerned and the sentiment is still reeling in today's Market. As I mentioned in the video, I created this video early in the day, which the Market is just starting, so a lot can change since I created this. Currently MBS is Up 11bps, which appears to be trending upward this morning, and sitting between the 25 DMA and the Fibonacci level. This can lead to better pricing on Mortgage Rates this morning, as Lenders on the West Coast have not yet released their pricing. Yields have slid down to 2.09%.
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