Daily Market Report 9/19/19

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

http://MikesDailyMarketReport.com: Weekly Jobless Claims beat forecasts and rose only 2k, to 208k. The Philly Fed dropped from 16.8 to 12.0 in Sept., but still beat it's projection at 10.0. This measures the manufacturing in the Philadelphia region. Existing Home Sales rose in August from 5.42 million annualized units to 5.49 million, which forecasts were calling for a drop to 5.39 million. Leading Indicators were flat in August. Stocks are Up this morning after the FOMC announcment, and they liked today's data. MBS is Up 6bps, but it's not enough to change Mortgage Rates, so they remain Unchanged. Yields are sitting just above a double layer of support at the 2.79%.

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