Daily Market Report 3/25/20

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

http://MikesDailyMarketReport.com: Durable Goods Orders increased 1.2% in February; but if you exclude Transportation, then it contracted by 0.6%. The FHFA Home Price Index, which measures home appreciation on homes with conforming loans rose 0.3% MoM in January, and it's YoY was 5.2%. Stocks are Up on possible news that there was an agreement made on a Stimulus Package that is expected to be announced today. MBS was up 36bps in earlier trading, but then turned negative (down 20bps) and is currently Down 8bps. Lenders whom priced in the Market earlier will change their pricing for the worse; and pricing may be around the same as where we closed yesterday. Pricing is still very difficult to navigate, as we're treading very uncertain times (watch video for updates on the Loan Programs and Market). Lenders are not pricing their Rates according to the Markets, as they're facing Margin Calls, Huge Influx of loans to underwrite, Risk of Default and even Liquidity issues. Yields started higher, but have now moved to Unchanged at 0.81%.

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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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