Daily Market Report 5/14/21

Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com:  Retail Sales had a very Big Miss today, as it was reported that April was Unchanged for MoM; and when you exclude (big ticket items) Autos, then it dropped 0.8%.  Capacity Utilization rose to 74.9% in April; and Industrial Production also rose by 0.7%.  However, Consumer Sentiment had a very Big Miss too, as it dropped from 88.3 in April to 82.8 in May.  It was expected to rise near 90.  Lastly, the Business Inventories rose 0.3% in March.  Stocks are Up today, even though there were some big misses with Retail and Consumer Sentiment numbers.  They're a bit optimistic with the news by CDC when they stated that those whom have been fully vaccinated should be ok without a mask; hoping this will further boost the economy.  MBS is Up 6bps so far this morning; so, Mortgage Rates are Unchanged from yesterday's close.  Yields have slid down to 1.64%.

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Comments (2)

Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Our governor (NC) just lifted the mandatory mask mandate to go along with the new CDC recommendations. I'm glad that we're finally transitioning to a bit of normalcy after all this time. Have a great weekend Mike!

May 14, 2021 02:05 PM
Mike Bjork

I wish they would do the same here in CA!  However, that is a totally different topic! 🤣

May 22, 2021 01:14 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Mike and thanks for your blog to share here in the Rain.  Like Debe, our governor is lifting the mask mandate.


May 14, 2021 02:17 PM
Mike Bjork

That's awesome, Will!  I personally really don't see how they helped in the first place.  I feel that it was more of a "comfort" for some people, but I'm not an expert!  Just feel that it should be a personal choice for the individual.

May 22, 2021 01:16 AM