Daily Market Report 12/5/19

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Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: The Weekly Jobless Claims came in at 203k (a 7 month low) for last week. Of course, last week was a holiday shortened week for Thanksgiving, so take it with a grain of salt. Factory Orders rose by 0.3% in October (exceeding the 0.2% forecasts). Stocks started the morning in Positive Territory, but shortly after, they turned Negative. There were more positive comments about the US/China Trade Deal, as the Chinese Ministry commented that their representatives are closely working with the US; and President Trump reiterated the optimism during his visit with Chancellor Merkel yesterday. But Investors are tiring of the back-and-forth rhetoric and may be taking a "let's see" approach. Meanwhile, MBS is currently down 11bps, so Mortgage Rates have slightly worsened. However, they may rebound a bit tomorrow, if the Jobs data don't meet the forecast of 180k, which is a bit of a stretch. Of course, if an Agreement has been reached between the US/China, then all bets are off. Yields have risen to 1.80% now.

 

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Tags:
interest rates
mortgages
home buying
home loans
refinance
interest rate trends

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
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The market seems to be less confident about "positive" steps elicited by the President as demonstrated by the muted response.

Dec 05, 2019 12:20 PM #2
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