Daily Market Report 11/13/19

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

http://MikesDailyMarketReport.com: The Consumer Price Index rose 0.4% in October; and it's YoY rose from 1.7% to 1.8%. The Core CPI (excluding food and energy) rose only 0.2% in October; however, it YoY dropped from 2.4% to 2.3%. Stocks are Down this morning after being disappointed in President Trump's speech yesterday, as they didn't feel that they received any of the information that they were seeking. Also, to add fire to the fuel, Fed Chair Powell's statements to Congress was released before his Testimony, which disappointed Investors even more, as he stated that we shouldn't expect any more rate cuts based on the current levels in the economy, unless there were a severe deterioration. MBS is benefiting from this, as they're Up 14bps this morning, so Mortgage Rates will see a slight improvement in their pricing. Yields have slid under it's Fibonacci and resides at 1.88%.

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Markets rebounded in the afternoon as they most often do.

Nov 13, 2019 02:03 PM #1
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