Daily Market Report 10/21/20

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

http://MikesDailyMarketReport.com: No economic data to point out today. The Stock Market is Up again today on continued optimism, as the White House and House are working on a deal for new stimulus; however, this could get help up by the Senate, whom have been calling for a smaller Stimulus package. The Fed Beige Book, which provides us with a Micro view of the economy around the various regions in the US, will be released later today. Q3 Corporate Earnings Reports continue to be released, whch a headline for Netflix disappointed, as they lost subscribers due to protests over one of their films (deemed highly inappropriate). Like yesterday, we have a few more Fed Members speaking today. MBS started the morning much lower and has since pulled back to being Down 6 bps from yesterday's close. Yesterday, we were in this level, before pulling back. We're in similar lows that we saw a few weeks ago; however, Yields didn't break the Technical level around 0.79%. Yesterday, they broke above it, and sit just under 0.81% now. Mortgage Rates are a little worse today, as a result.

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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:
refinance
mortgages
interest rates
interest rate trends
home loans
home buying

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

Hello Mike,  What happens to the stock market the day after the election?  Was there once a think if the Afc or Nfl won the year of a election.

 

Oct 21, 2020 08:48 AM #1
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Mike Bjork

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