Daily Market Report 7/8/21

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

http://MikesDailyMarketReport.com:  The Initial Jobless Claims revised last week's report from 364k to 371k; and reported this week at 373k.  However, we are still seeing a dropoff in the Continued Claims (by nearly 150k) from last week.  Stocks are Down on the trend of Yields dropping today.  Investors are changing their worries of surging inflation to is this all the growth we'll see (?) attitude.  Yields seem to be falling more on a Technical level, which has many Investors confused.  It touched near a new Technical level (1.25%) and is currently sitting at 1.29%.  Investors are also keeping an eye on the new Delta variant and it's potential impact, as Japan appears to be tightening measures to keep a lid on it's spread.  It appears that the Olympics will continue; however, without fans.  The FOMC Minutes were released yesterday, and nothing new was really found from it.  The talk about tapering is expected around September and potential happening of the tapering may begin around November (at the earliest); however, the data that the Fed is watching is still aways off before they anticipate any action.  MBS is currently Up 17bps (off from it's earlier highs, and earlier lows for that matter).  Lenders are coming out with better pricing today (compared to yesterday's ratesheet).

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Comments (1)

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

Hello Mike and thanks for the great information in your blog today.  Hope you have a  great day!

 

Jul 08, 2021 11:36 AM
Mike Bjork

Thanks, Will!  I hope you enjoy your's, as well!

Jul 09, 2021 11:38 AM