Daily Market Report 9/12/19

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

http://MikesDailyMarketReport.com: Weekly Jobless Claims came in strong last week, which only 204k people applied for first time benefits. The Consumer Price Index (CPI) rose only 0.1% in August, which it's YoY dropped from 1.8% to 1.7%. However, it's Core CPI rose 0.3% in August, and it's YoY rose from 2.2% to 2.4%. Stocks are in Positive Territory on news that the US will delay Tariffs on $250 Billion Chinese goods from October 1st to October 15th as a gesture of good will. Also, the ECB announced further rate cuts, which they reduced their depository rates by 10bps, so they went from -0.4% to -0.5%. They also announced that they will start buying Government Bonds in November in blocks of $20 Billion Euros until they deem necessary. Meanwhile, MBS started the morning much higher, but has since fizzled and is currently Up only 3bps, so Mortgage Rates remain the same. Yields faced the same type of volatility, as they currently sit at 1.75%. Both lines held yesterday and are starting to be challenged again this morning.

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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 an up to date. Best of luck!

Sep 12, 2019 10:35 AM #1
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Rainmaker
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Mike Bjork

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