Daily Market Report 5/12/21

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

http://MikesDailyMarketReport.com:  The CPI report made a HUGE mark on the Markets today with it's April report, which shows it's MoM skyrocketing Up 0.8%, while it's YoY lunged upward from 2.6% to 4.2%.  Whe you exclude food and energy, then you have the Core CPI (this report holds more weight due to it being more of the base), which rose 0.9% MoM and it's YoY jumped up from 1.6% to 3.0%.  A healthy economy moves at approximately 2.0% inflation.  The Fed says it's transitory, but many investors are on edge that it may stick.  Time will tell!  Right now, it's a very real concern!  As a result, Stocks are plunging!  A few more Fed Members will be speaking today.  MBS had plummeted too, which it's Down 33bps now; so, Mortgage Rates have spiked a bit higher today, as a result.  Yields shot Up to 1.68% and was testing it's 1.69% technical ceiling earlier.

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