Daily Market Report 7/7/20

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

http://MikesDailyMarketReport.com: Job Openings improved in May, as it rose from 5 million in April to 5.4 million in May. However, that wasn't quite enough to keep stocks in positive territory, as the DOW and S&P have slid into the Red. Currently, they're trading in Mixed territory. They were soured, as Investors listen to Fed Member (from Atlanta) Bostic state that the US economy appear to be "leveling off". The European Commission lowered it's economic forecast again. And the reality of rising infections of covid-19 cases, which is leading some areas back to closures, have begun to sink in that the US economy may not have the V-shaped recovery, as they hoped. There are reports that show we may not return to the pre-pandemic numbers until 2022. On the other hand, this is helping MBS, which is currently Up 20bps. This will lead to better pricing for Mortgage Rates. Also, Yields have slid below it's 50 DMA again and currently sit near 0.67%.

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.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

Check out and "Like" my Facebook page for Real Estate Agents at FreeHelpForCARealEstateAgents

 

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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
1,758,689
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!

Jul 07, 2020 09:49 AM #1
Rainmaker
3,486,068
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Mike and thanks for your report daily to us here in the rain.  Always good to have your imput.

 

Jul 07, 2020 09:53 AM #2
Rainmaker
483,087
Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

Thanks for the update and solid explaination.  

Jul 07, 2020 12:34 PM #3
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Rainmaker
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Mike Bjork

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