Daily Market Report 7/9/21

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

http://MikesDailyMarketReport.com:  Wholesale Inventories rose 1.3% in May.  Meanwhile, Stocks are rebounding today, after a bit of a pullback the last few days.  They're expected to end the week on a high note.  Investors are torn between "good news and Fed tapering sooner" and "bad news and keeping the easy money flowing".  Next week, they'll have a bit more of a distraction, as Corporations release their Q2 Earnings Reports.  Currently MBS is Down 22bps, so Mortgage Rates are off by about an .125% to it's rate.  They and Yields are currently looking for it's next range, so we'll experiences some of these up and down effects for a bit, until it's found; and move onto it's next range (whether it rises or drops again).  Currently, Yields shot up to 1.36%.

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