Daily Market Report 3/11/21

By
Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com:  The initial Jobless Claims came in at 712k, which shows a weekly decline (Good News!); however, last week's report was revised higher by 9k.  The ECB had their Policy Meeting and Announcement today, which they will keep all intact, but did mention that they will look to accelerate their Asset Purchases.  Stocks are Up this morning on optimism for the economy after the jobs data today and the lower inflation data being reported yesterday.  MBS started higher on the heels of the ECB's announcement; however, it subisded a bit, and is currently only Up 9bps.  This isn't enough for Lenders to make any changes in their pricing for Mortgage Rates (Unchanged).  Inversely, Yields started much lower, but have since risen a bit higher to almost 1.52%.

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