Daily Market Report 9/3/19

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

http://MikesDailyMarketReport.com: ISM Manufacturing contracted in August to it's lowest level (49.1%) in approximately 3 years. Construction Spending slighly rebounded in July by rising 0.1%. Investors are a bit uneasy with the Manufacturing data today, along with the Tariffs that were implemented on Sunday (by the US and China, alike). Stocks are down quite a bit on this uneasy feeling. MBS seem to be gaining some more steam and may have found it's catalyst after moving sideways for the past month by breaking above it's Ceiling of Resistance is currently Up 9bps. Earlier, it did test the former Ceiling, which will become it's Floor of Support on the Candles Chart. I'd say that Mortgage Rates are currently the same as Fridays, but this may change if the Candles continue to rise (better pricing). Yields have dropped below it's Floor of Support and are approaching it's lowest level ever. It's currently sitting at 1.45%.

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Mortgage / Finance
California Los Angeles County Redondo Beach
South Bay Realtors
interest rates
home buying
home loans
interest rate trends

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Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Thank you for letting us know about what is happening in your market.

Sep 03, 2019 01:04 PM #1
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