Daily Market Report 11/27/19

By
Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: Weekly Jobless Claims scaled back from the previous reporting to 213k people applying for first time benefits. The GDP's 2nd revision for the Q3 came in a little higher, from 1.9% to 2.1%. We'll see the final revision next month! Durable Goods Orders (including the data without Transportation) rose 0.6% in October, as many expected another decline. The manufacturing in the Chicago region improved a little, even though it's still in contraction territory, as the Chicago PMI came in from 43.2 to 46.3 in November. Personal Income remained Unchanged in October; however, Consumer Spending rose 0.3%, wihich hopefully is a good indicator heading into the Holiday Season! The Personal Consumption Expenditure rose 0.2% in October, while it's YoY remained at 1.3%; however the Core PCE (without Food or Energy, and the Fed's favorite gauge for inflation) rose 0.1%, and it's YoY dropped from 1.7% to 1.6% -The Fed is targeting for a 2.0% rate! Pending Home Sales dropped 1.7% in October, which NAR attributed it to lack of inventory and slightly higher rates in October from previous month. Stocks are in Positive Territory based on today's data. MBS is Down 14bps, so Mortgage Rates have worsened a little bit today. Yields have climbed it's way Up to 1.76%.

 

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

Appreciate the reports and keeping us all informed. Best of luck!

Nov 27, 2019 09:17 AM #1
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Mike,  Great information to pass on to us here in the Rain and sure buyers and sellers can benefit from this blog.

 

Nov 27, 2019 10:53 AM #2
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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!

Without increased inventory pending home sales are going to continue to drop.

Nov 27, 2019 12:40 PM #3
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Rainmaker
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Mike Bjork

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