Daily Market Report 9/18/20

By
Mortgage and Lending with SunWest Mortgage NMLS #275652/1820

http://MikesDailyMarketReport.com: The Consumer Sentiment improved so far in September, as it jumped to 78.9 from August's 74.1. The Leading Economic Indicator had a positive revision in July, going from 1.4% to 2.0%; however, it dropped to 1.2% in August. Stocks are all in the Red this morning, threatening to ruin this week's gains in the Market. There is a Quadruple Witching in today's trading action, which will create a lot of this volatility in the Stock Market. We had a few Fed Speakers speak today, which are having some impact, especially with the Bond Market, as Fed Member Bullard discussed possibilities of inflation rising (inflation is the enemy to Bonds), which included a bottleneck in the supply chain. MBS started the morning higher, only to give up those gains. We're currently Down about 2bps. All week, we've been going in a sideways pattern; so, there hasn't been much, if any, movement with Mortgage Rates this week. Yields continue their slight incline, as they grapple with it's 25 DMA and a Technical Level (just above it). It's currently sitting around 0.69%.

 

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Also, these videos are base on my views and not represented by any other entity, but my own. I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com

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Topic:
Mortgage / Finance
Location:
California Los Angeles County Redondo Beach
Groups:
South Bay Realtors
Tags:
interest rates
mortgages
home buying
home loans
refinance
interest rate trends

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