Daily Market Report 9/17/20

Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: The initial Jobless Claims reported 860k people applying for first time unemployment last week, which is down from 893k in it's previous report. Housing Starts pulled back in August, as it went from 1.49 million annualized units in July to 1.42 million in August. Also, Building Permits dropped from 1.48 million in July to 1.47 million in August. Manfacturing in Philadelphia region was down a little bit, but still in decent territory, in it's September report for Philly Fed Manufacturing, as it came in at 15.0. Stocks are Down this morning, as Investors' mood were less optimistic of a quick recovery. The Fed is providing all the right tools, which is positive, but they also indicated all of the unknowns and indicated this could be longer than what most had hoped for. MBS started the day much higher, but has since rescinded and is only Up 3bps (below it's 25- and 50 DMA); so, Mortgage Rates remain Unchanged from yesterday's pricing. Yields are still testing both their floor and ceiling, but have been sitting in the space between it's 25- and 100 DMA. It's currently at 0.68%.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Joe Jackson 09/17/2020 09:49 AM
Mortgage / Finance
California Los Angeles County Redondo Beach
South Bay Realtors
interest rates
interest rate trends
home loans
home buying

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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!

Sep 17, 2020 09:37 AM #1
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Thank you for sharing this market report! 

Sep 17, 2020 09:47 AM #2
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good afternoon Mike. Thanks for the update. Rates remain artificially low with no signs of going up to more normal levels anytime in the foreseeable future. Enjoy your day 

Sep 17, 2020 11:37 AM #3
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