Daily Market Report 9/13/19

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

http://MikesDailyMarketReport.com: Retail Sales jumped Up 0.4% in August; however, if you remove Autos from that data, then it was completely flat. Consumer Sentiment Index shows that Consumers are feeling better in September, as it rises from 89.8 to 92.0. Also, Business Inventories rose 0.4% in July. Stocks are modestly trading in Positive Territory, as it's trading at it's highs. The sentiment is calm after "good will" gestures between US and China prior to their upcoming October meeting; and an accomodating attitude amongst the Central Banks to stimulate the economy. Meanwhile, money is flowing out of MBS/Bonds and into Stocks/Equities; so, Mortgage Rates continue to rise this week, as MBS is down 36bps this morning. Yields are climbing, and now sits around 1.86%. Both have broken past their next levels of support/resistance.

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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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