Daily Market Report 10/8/19

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

http://MikesDailyMarketReport.com: The NFIB Small Business Index, which gauges the confidence with Small Businesses, dropped from 103.1 to 101.8. The Producer Price Index, which measures inflation with the Wholesale Sector, dropped 0.3% MoM, which it's YoY dropped from 1.8% to 1.4%. The Core PPI, which excludes food and energy, also dropped 0.3% MoM in September. It's YoY dropped from 2.3% to 2.0%. Stocks are in Negative Territory, as Investors are concerned over possible heightened tensions before the upcoming meeting between US and China. Yesterday, it was announced that the US will Blacklist 28 companies for Human Rights Violations to Muslim Minorities in China. Also, Bloomberg is reporting that the Trump Administration is proceeding with discussions on restrictions of investment flows into China, especially with Pension Plans. MBS is Up 11bps this morning. However, yesterday (around Mid-day) the Market turned and closed -8bps. Mortgage Rates (today) will be comparable to what we saw on Friday. Yields started the day higher, but has slid down to 1.51%.

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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Always good to get insight from a local expert. Thank you for sharing!

Oct 08, 2019 08:29 AM #1
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