Daily Market Report 12/4/19

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

http://MikesDailyMarketReport.com: The ADP Employment Report disappointed today, as it reported only 67k new jobs for November and a revised lowered number (by 4k) in October's numbers. The Markit Services PMI remained Unchanged at 51.6 in November; while, the ISM Non-Manufacturing Index dropped from 54.7% to 53.9% in November. However, Stocks are Up this morning on a report by Bloomberg that the US and China are closer to a Phase One Deal despite all of the rhetoric. This news is superseding the poor jobs data today. Meanwhile, MBS is Down 8bps, and if you factor yesterday's close (well off from yesterday's highs of +42bps) at +25bps, then Lenders will tend to price Mortgage Rates a little worse today. Yields are clawing their way back and have reached 1.77%.

 

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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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