Daily Market Report 9/17/19

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

 http://MikesDailyMarketReport.com: Industrial Production rose 0.6% in August; and Capacity Utilization rose from 77.5% to 77.9%. Last, but not least, the Home Builder's Index rose from 66 to 68 in September. This index measures the confidence level of Home Builders. The Sentiment from the Attacks on Saudi Oil Processing Plants are lingering into today's trading. Stocks started in the Red, but have eased up a bit, and now are Mixed. We saw the biggest spike since September 2008 in Oil prices yesterday, so Investors are watching this carefully. This could lead into talk of Inflation, which is the enemy of MBS/Bonds, as it erodes it's value over time. The FOMC begin their 2 day meeting today, which they're expected a 0.25% Rate Cut. If there's any mention of concern over inflation, then we could see an adverse effect with MBS and Mortgage Rates. MBS are currently Up 2bps. So, no change in Mortgage Rates from yesterday's pricing today. Yields are slid a bit to 1.83%. The Good News is the Stochastic Chart seems to reflect a reversal in the trend of both MBS and Yields, so we may reclaim some of the lost pricing and improvement with Mortgage Rates in the near term.

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 Sorry, I'm not certain what's going on with the video links today.  If it's still not working, then here's the YouTube video link to view it https://www.youtube.com/watch?v=ms882agyL_Y

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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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