Daily Market Report 7/6/20

Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: We have some data from the Services Sector today. We'll start with the Markit Services PMI for the month of June, which rose from 46.7 to 47.9. It's counter-part, the ISM Non-manufacturing Index, which is also the "gold" standard for this data, rose from 45.4% to 57.1% in June. Anything above 50 is considered expansion. This bode well for the Markets today. Stocks are Up on optimism on continued growth of the economy, despite the rising covid infections. MBS is Up only 2bps, so Mortgage Rates hold steady and remain Unchanged in pricing. Yields have crept up, above the 50 DMA and it's next technical ceiling, and currently sits just under .70%.

As I mentioned in the video, these views do not represent anybody else, but my own. I do work as a Loan Officer, so if I may be of assistance with your refinance or purchase, then please feel free to reach out to me at mikebjork@icloud.com.

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Mortgage / Finance
California Los Angeles County Redondo Beach
South Bay Realtors
interest rates
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home loans
interest rate trends

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

Hello Mike and thanks for your imput of what is happening in the market and what the bond market will be doing.


Jul 06, 2020 10:35 AM #1
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