Daily Market Report 12/6/19

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

http://MikesDailyMarketReport.com: NonFarm Payrolls surprised everybody with their HUGE number for November, which 266k jobs were created; along with positive revisions to the prior 2 months by 41k. Forecasts called for 180k, which we thought was a stretch, but this Positive News is welcomed! The Unemployment Rate dropped from 3.6% to 3.5%, which is at a 50 year low. Average Hourly Earnings rose by 0.2% in November. Consumer Sentiment rose in December from 96.8 to 99.2. Overall, a great day! Stocks are Up on the data from this morning. Everything is pointing to progress on the Phase One Agreement between US and China. MBS is currently Down 3bps, even though it started the much lower. Same for yesterday, which leads to Mortgage Rates remain Unchanged from yesterday's pricing. Yields continue it's rise, which it's sitting around 1.83% now.

 

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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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