Daily Market Report 7/10/20

Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: The Producer Price Index, which measures inflation on the Wholesale level, dropped 0.2% MoM; whereas, the Core PPI (excludes food and energy) dropped 0.3% MoM. The Core PPI's YoY dropped from 0.3% to 0.1%. Stocks are trading in Mixed Territory this morning, as NASDAQ seems to be taking a break after it's Tech Stocks been trending higher for awhile now. The Corona virus related news still tops the headlines. Gilead announced some good news with their research. On another topic in the news, is China announced they will impose their own sanctions on US after the US imposed sanctions on some individuals and businesses for their roles in Uighurs' human rights abuses. This is boding well for MBS, as they're Up 11bps now. Mortgage Lenders will be poised to improve pricing for Mortgage Rates again today. Yields have tested their floor of support this morning and currently just under 0.62%.

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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interest rates
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