Daily Market Report 7/17/20

By
Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com: Housing Starts improved to 1.19 million annualized units in June; and Building Permits increased to 1.24 million annualized, as they begin to reach pre-covid levels. However, Consumer Sentiment dropped from 78.1 to 73.2 in July, as Covid cases rise and Government officials add more restrictions and closures. Stocks have been Up and Down already this morning. They started in Positive Territory early on, due to optimism for more Stimulus, as Europe passed their recent package. Then they turned negative on the Consumer Sentiment data. Now, it's mostly Mixed, as the DOW is the lone index in Negative Territory. MBS started the morning in positive territory, but has since, moved into the Red (Down 2bps), as it did late yesterday (being in Positive territory to closing in the Red). Yields are slightly Up, and sit 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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