Daily Market Report 7/27/20

Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com: The Durable Goods Orders increased 7.3% in June, surpassing it's forecast of 6.5%. There will be other reports this week, which includes the first look at Q2 GDP; and the FOMC starts tomorrow, with their Announcement on Wednesday. Stocks are trading in Positive Territory, as many of the Big Tech Companies will release their Earnings Reports this week. We're still looking at tensions with China and increasing coronavirus infections. Some good news has the Republicans in agreement with each other on proposal for next Stimulus package, which will be brought to their counter-parts (Democrats) to negotiate. This could be a long, drawn-out period. MBS is currently Up 9bps, as it is currently off of it's Opening High. Mortgage Rates remain Unchanged from Friday. Yields continue to add pressure to it's floor of support, as it resides just above 0.58%.

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


Comments (2)

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

Happy Monday Mike,  no telling how long interest rates will stay down but can not stay this low for long.


Jul 27, 2020 09:53 AM
Mike Bjork

Happy Monday, Will!  I agree!  It's great for the Home Buying Season.  Hopefully, many Home Buyers will be able to capture these (potentially) once in a lifetime rates!  Hope these rates help you and your clients!

Jul 28, 2020 09:31 AM
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, ABR,CNE,CRS,ePro,PSA,RENE,SRS

Thank you for keeping us posted and up to date. Best of luck!

Jul 27, 2020 10:16 AM
Mike Bjork

My pleasure, Jeremy!  Have a good one!


Jul 28, 2020 09:29 AM