Daily Market Report 1/16/20

Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: Weekly Jobless Claims dipped a bit further (Good News!) to 204k. Retail Sales rose 0.3% in December; however, if you exclude Autos, then it rose 0.7%. Manufacturing is showing some improvement in January, as the Philly Fed rose to 17.5 (on the heels of Empire State Index higher levels). The Import Price Index rose 0.3% in December. Business Inventories dropped 0.2% in November. The NAHB Home Builders Index dropped slightly in January, going from 76 to 75. Stocks are trading in Positive Territory this morning after the Phase One Deal was signed yesterday. The Q4 Corporate Earnings continue to come out. MBS is currently Down 3bps, so Mortgage Rates remain Unchanged from yesterday. Yields have touched the important Fibonacci Level (1.779%) again today, but has since bounced a little higher to 1.81%. This Fibonacci line is putting a cap on Mortgage Rates; so, if it can break below this line (and remain below it), then there's a good chance of Mortgage Rates improving further. But this has been a strong support for Yields since early December.

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

Thank you for keeping us posted an up to date. Best of luck!

Jan 16, 2020 12:33 PM #1
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