Daily Market Report 11/14/19

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

http://MikesDailyMarketReport.com: Weekly Jobless Claims rose to a 5 month high last week, as 225k people filed for Unemployment. The Producer Price Index, which measures inflation on the Wholesale sector, rose higher than expected in October by 0.4%, which forecasts called for 0.3%. However, it's YoY dropped from 1.4% to 1.1%. Like it's counter-part, the Core PPI (excluding food and energy), it exceeded it's October forecast of 0.2%, and came in at 0.3%. Also, it's YoY dropped from 2.0% to 1.6%. Stocks are in the Red today, as Investors grow weary of a US/China Trade Agreement. Fed Chair Powell will begin his 2nd day of speaking with Congress today; and other Fed Members will be out today with their Speaking Engagements. MBS is currently Up 19bps, as Mortgage Rates improve; however, it's up against a very tough triple layer of resistance (the 25-, 50- and 100 DMA lie just above it). Yields have slipped down to 1.83%, and is coming close to reaching it's floor of support, which is currently the 100 DMA.

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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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