Daily Market Report 5/20/20

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

http://MikesDailyMarketReport.com: The FOMC Minutes will be released around 11am PST today, but we don't anticipate any news from these notes. Stocks are Up this morning on good earnings reports from retailers (like Target and Lowes). MBS is currently Up 11bps, and yesterday, it closed Up 27bps, so you can expect better pricing with Mortgage Rates today. The Fed is purchasing up to $4.5 Billion of MBS today. There is a Bond Auction today, so it's possible to have an adverse reaction to the Market, if it isn't successful. Yields are currently sitting at 0.71%

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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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