Daily Market Report 8/26/19

By
Mortgage and Lending with Pinnacle Home Loan NMLS #275652/1820

http://MikesDailyMarketReport.com: Durable Goods Orders rose 2.1% in July, up from 1.8% in June. However, when you exclude the Autos, then it dropped 0.4% in July. Stocks are Up this morning on news that President Trump stated that China contacted him twice over the weekend to return back to negotiations. This has flipped the Investors sentiment from Friday's tit-for-tat tariff talk between US and China. A Business Survey in Germany reported that Business Confidence is at it's lowest point since 2009, and is greatly concerned that it's quickly approaching recessionary levels. MBS is Up 8bps, which isn't enough for any price improvement since Friday's close, so Mortgage Rates remain Unchanged. Yields started the morning sitting on it's Floor of Support (about the 1.48% level) and is now up to 1.51%.

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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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