Daily Market Report 12/11/19

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

http://MikesDailyMarketReport.com: CPI rose 0.3% in November and saw it's YoY increase from 1.8% to 2.1%. The Core CPI (excluding food and energy components) rose 0.2%, as it's YoY remained Unchanged at 2.3%. Later this morning, the Fed will wrap up their 2 day meeting and Chairman Powell will give his announcement. The Markets will hold tight to hear from the Fed before making any swings in the Market, as Stocks currently are trading in Mixed Territory (DOW is lone index in Red). Meanwhile, MBS is currently Up 11bps and approaching it's triple layer of resistance. Right now, the Mortgage Rates remain Unchanged, but are potentially on the cusp of Improving, but this will most likely be decided after the Fed makes their announcement. Yields have slid down to 1.81% and sitting on it's 25 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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