Daily Market Report 10/21/19

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

http://MikesDailyMarketReport.com: There is no economic data to report today, which will be a relatively light week for it. We'll receive data on the Existing Home Sales tomorrow. Stocks are in Mixed territory, as the DOW has been bouncing between Positive and Negative Territory this morning. The US and China are working their way thru a Phase 1 portion of a Partial Trade Agreement. UK Politics is forcing the PM to request another 3 months extension from the EU regarding Brexit. We're in the middle of the Q3 Corporate Earnings Reports, which have been fairly decent. MBS is trying to fight it's way back above it's 100 DMA. It's currently down 9bps, so Mortgage Rates remain Unchanged, but very close to worsening. If it cannot rise above the 100 DMA, then it has another 50bps space to drop further, which will translate to approximately .25% interest rate increase. Yields are fighting to break above it's Fibonacci level and is sitting at 1.78%.

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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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Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Earnings are going to dictate which direction the stock market is going to go. The noise has been ignored so far.

Oct 21, 2019 11:00 AM #1
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