Daily Market Report 5/26/20

By
Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: The Case Shiller HPI rose from 4.2% YoY in February to 4.4% in March; however, the FHFA HPI dropped from 6.1% in February to 5.9% in March. Consumer Confidence began to rise in May, as it went from 85.7 to 86.6. Also, a bit of a surprising report, is New Home Sales, which went from 619k annualized units in March; with forecasts calling for 480k units in April, but the actual number of annualized units in April rose to 623k. Stocks are well into Positive Territory this morning, as optimism grows on possible vaccines and data reporting improvement in the economy after states begin to reopen. However, it's not quite affecting the Markets today, but tensions continue to mount between US and China. MBS is Down 8bps and is currently sitting just above it's 50 DMA. Mortgage Rates remain Unchanged. However, there will be a movement coming soon, as both the 25 DMA and 50 DMA begin to squeeze it's movement, which will push MBS in either direction. This will cause MBS to either improve or worsen. If they break below the 50 DMA, then there's a lot of room for Mortgage Rates to rise. Meanwhile, Yields are Up against it's 50 DMA and sitting at 0.70%.

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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
3,443,296
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Mike, Always good to see your dail report and what is happening,  Yes saw stocks are up  little

 

May 26, 2020 09:49 AM #1
Rainmaker
1,748,902
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 26, 2020 09:52 AM #2
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Rainmaker
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Mike Bjork

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