Daily Market Report 10/10/19

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

http://MikesDailyMarketReport.com: Weekly Jobless Claims dropped from last week's 220k number to 210k, which is a good sign for Jobs. Also, on the agenda is Consumer Inflation by the way of Consumer Price Index, which remained Unchanged from the previous month (MoM); and it's YoY remained at 1.7%. When you remove the Food and Energy data, then you have the Core CPI. It rose only 0.1% MoM, but it's YoY remained unchanged at 2.4%. This bode well for investors because they believe it will make it easier for the Fed to continue cutting rates because inflation remains under control. Stocks are Up again this morning, as optimistic sentiment continues with China's visit to the US today to start the Trade Negotiatoins. There are several things by both sides whom are trying to diffuse the standoff and move in a positive direction. There are a few Fed Members whom will be speaking today, so Investors will look for clues to the next FOMC later this month. MBS is Down 19bps, so Mortgage Rates have risen a bit. They're testing it's double floor of support (50- and 25 DMA). While Yields have climbed to 1.64% and pushing Up against it's 50 DMA.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

Check out my Facebook page for Real Estate Agents at FreeHelpForCARealEstateAgents

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
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

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,243,265
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Great information Mike of what is happening one again.  We always need to stay on top of what is happening and what COULD happen!

 

Oct 10, 2019 08:28 AM #1
Rainmaker
1,649,263
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Appreciate you keeping us up to date and in the know. Have a great day!

Oct 10, 2019 09:07 AM #2
Ambassador
3,445,553
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thanks for sharing these important data points. Knowing where we've been helps to predict where we're going.

Oct 10, 2019 05:33 PM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
794,417

Mike Bjork

Ask me a question
*
*
*
*
Spam prevention

Additional Information