Daily Market Report 7/20/20

Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com: This will be a light week, this week, in terms of economic data being released. We have to data to report today, so the Markets are taking their queues from the news. Stocks are in Mixed Territory, as the DOW is the lone index in the Red. This week, we'll see Earnings Reports from the Technology Sector. Cases of Coronavirus continue to increase, as Gov'ts in both the US and EU reconvene this week to discuss the next phase of Stimulus/Recovery packages for their respective economies. The US Congress is facing mounting pressure as the $600/week Unemployment expires this week. It was reported a few weeks ago that 2/3 of the recipients were making more money on Unemployment than going back to work. Look for a possible long disputed negotiations from both sides before any package is passed. MBS started the morning higher, but is off it's highs, and sitting about 5bps higher than Friday's close. So, Mortgage Rates remain Unchanged. Yields 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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Comments (1)

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

Happy Monday Mike,  Not sure if another $600 to people will work but drive up the debt and make more people stay home.


Jul 20, 2020 10:42 AM
Mike Bjork

I agree, Will!  There was a report a few weeks ago that stated 2/3 of the recipients were making more money on Unemployment than their previous work.  

Jul 21, 2020 07:51 AM