Daily Market Report 5/13/20

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Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: The Producer Price Index, which is inflationary data on the Wholesale Sector, dropped 1.3% in April, as it's YoY dropped from 0.7% in March to -1.2% in April. It's Core PPI (excluding food and energy) dropped 0.3%; and it's YoY went from 1.4% in March to 0.6% in April. Stocks are in Negative Territory this morning on sombering comments by Fed Chair Powell. He had mentioned that the current state is unprecedented and we could see over the duration of recovery that liquidity problems can turn into solvency problems. Also, he suggested that another stimulus package may help the economy and keep us in a prolonged state of depression. The mood was only continued on the heels of Dr Fauci's testimony before the Senate yesterday, as he indicated that re-opening the economy may result in another outbreak. MBS is Up only 2 bps so far this morning, so Mortgage Rates remain unchanged. Yields are trying to stay above it's 25 DMA, and has currently slid just under it at 0.64%. We'll see if it remains below it.

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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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Rainmaker
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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 and up to date. Best of luck!

May 13, 2020 09:46 AM #1
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Rainmaker
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Mike Bjork

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