http://MikesDailyMarketReport.com: Last week's Initial Jobless Claims were revised higher, from 412k to 418k; and this week's report came in at 411k. This missed the forecasts of 380k, which economists were projecting. Durable Goods revised their April data to slightly better, from -1.3% to -0.8%; and improved to 2.3%. Some were disappointed with this number, as it missed it's forecasts by 0.5%, but when you see that it's revision was improved by 0.5%, then it's almost a wash. Q1 GDP released it's final revision, which remained unchanged at 6.4%. Next month, then we'll get an initial view of Q2 GDP. Stocks are Up on news of a bipartisan agreement for the new infrastructure bill that will be about a $1 billion, and a little more than a half billion of new spending. S&P and NASDAQ continue into new highs. There are a few Fed Speakers scheduled today; however, there shouldnt be much impact, if they keep to the same message. MBS are currently Up 6bps, so Mortgage Rates appears to keep moving in a sideways pattern and remain Unchanged. Yields dipped a point to 1.48%
Please subscribe to my YouTube Channel at MikesDailyMarketRpt
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 please direct message me.